Posted by Jimmy Song > 2013-05-30 09:51 | Report Abuse

A STEADY PERFORMANCE FOR OCK’S Q1 OCK Group reports a revenue of RM 30.6 million . PUCHONG, 28 May 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider today announced their financial results for the first quarter ended 31 March 2013 (“Q1FY13”) with a revenue of RM30.6 million, shy of RM5.5 million compared to its previous quarter (Q4FY12) of RM36.1 million. The comparatively lower revenue in this Q1FY13 was mainly due to completion of a project in previous financial year and also the expected lower activities in Quarter 1 as a result of lower roll-out work by the telco operators for the telecommunications network segment. For Q1FY2013, OCK further reported a profit before tax (“PBT”) of RM3.2 million and profit after tax (“PAT”) of RM2.4 million. There are no comparative figures for the preceding year’s individual corresponding quarter as the Group was listed on 17 July 2012. Reporting on the Group’s segmental income, its core business telecommunications network services recorded a revenue and PBT of RM20.9 million and RM2.6 million, respectively, making up approximately 68.2% of the Group’s total revenue. The Green Energy and Power Solution segment recorded a revenue of RM4.4 million and a PBT of RM0.12 million, with its PBT reporting an increase of 25.8% compared to its previous quarter. OCK’s Mechanical & Electrical engineering services also reported an increase in profit with a revenue of RM2.2 million and PBT of RM0.59 million – this represents an increase of 43.6% and 158.8% respectively as compared to its previous quarter. Commenting on the Group’s operations performance, Mr. Sam Ooi, Group Managing Director said: “During the last quarter of 2012 we have been injecting our efforts into completing various projects such as the construction of the 40 sites of telecommunication network structures. We foresee that our efforts during this period will contribute positively to the Group earnings in the near future. With on-going technological advancements running across the industry and the recent 4G roll-out and expansion, the management is optimistic that the Group will continue to deliver favourable results for 2013.” Ooi further added, “As part of our business expansion plans, we have been aggressively developing our Green Energy capabilities and bidding for projects in the construction of solar farms. We forecast that this segment will provide strong business growth for the Group as the Government is now heavily driving the green energy industry in Malaysia.”