Posted by Jimmy Song > 2017-02-27 19:38 | Report Abuse

SHAH ALAM – OCK Group Berhad (“OCK” or “Group”), Malaysia’s leading telecommunication network solutions provider closed out the year with a strong fourth quarter (“Q4’2016”) and full year financial result performance for its financial year ended 31 December 2016 (“FYE2016”), marking a 7 year revenue and profit after tax CAGR of 36.6% & 68.2% respectively. For the quarter under review, the Group achieved a 6.6% increase of revenue compared to the corresponding quarter last year. The increase was partly due to the contribution from the Group’s regional expansion. However, the Group reported lower PBT and PAT which were mainly due to a RM2.9 million pre-acquisition expenses incurred for acquisition of Southeast Asia Telecommunications Holdings Pte. Ltd. (“SEATH”) that was completed on 13 January 2017. The Group also reported an improved PAT margin of 9.8% for Q4’2016 compared to its previous quarter Q3’2016 of 7.7%. OCK’s full year financial performance for FYE2016 achieved new record high with strong growth mainly contributed by the two core businesses in Telecommunication Network Services and Green Energy & Power Solutions reporting total revenue of RM339.6 million and RM37.3 million respectively for FYE2016. The Group also reported a Profit Attributable to the Owners of the Company (“PATAMI”) of RM25.8 million which translates into a PATAMI margin of 6.3%. LATEST REGIONAL DEVELOPMENTS The Group’s regional exposure has been gaining financial traction with a contribution of 20.0% to the Group’s overall revenue for FYE2016, compared to 16.7% in FYE2015. To date, Myanmar’s business has started to contribute to the Group’s revenue. Over the course of 14 months, the Group has expanded their regional portfolio to include Myanmar and Vietnam along with existing SEA presence namely Cambodia, China and Indonesia. GROUP MANAGING DIRECTOR COMMENTARY Mr. Sam Ooi Chin Khoon, Managing Director of OCK Group Berhad said, “OCK delivered another strong record performance to close off the year. We are pleased that OCK has delivered our regional expansion blueprints as planned with successes in Myanmar and Vietnam.” “On 13 January 2017, OCK and CapAsia have completed the acquisition of the entire equity interest in SEATH. Vietnam will start to contribute revenue to the Group in Q1’2017.”