Posted by Jimmy Song > 2013-08-27 18:15 | Report Abuse

OCK GROUP DELIVERS STEADY PROFIT FOR 1HFY13 PUCHONG, 27 August 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its second quarter results for its financial year ending 31 December 2013 (Q2FY13) with a revenue of RM33.3 million and a PAT of RM3.1 million, which showed a growth of 8.72% and 28.05% as compared to last quarter. OCK’s cumulative financial performance for the first half of its financial year ending 31 December 2013 (1HFY2013) has delivered a healthy revenue and PAT of RM63.9 million and RM5.5 million, respectively. In terms of the Group’s segmental performances, Telecommunications Network segment is still the core business of the Group which delivered revenue of RM20.2 million, followed by Green Energy & Power Solutions segment of RM8.862 million. Trading and M&E Services segments recorded revenue of RM3.09 million and RM1.152 million respectively. In particular, Green Energy & Power Solutions segment shows a double digit incremental growth as compared to the previous quarter. Commenting on the results Mr. Sam Ooi, Managing Director of the Group said, “We are contented with the 2Q result as it is within our internal forecast, having said that, our stronger quarters are usually the second half of the year as we experienced previously.” With the recent 10% Placement Exercise, Lembaga Tabung Angkatan Tentera (LTAT) has taken up the entire block of 25,900,000, being 10% of the entire paid up of the Group. The proceed amount to RM12.1 million was to utilize for regional expansion and working capital for the Group. “LTAT’s entrance as a substantial shareholder provides us with a promising and strategic institutional investor for the Group in which we look forward to building a long-term collaboration with.” added by Mr. Sam Ooi. In line with the Group’s effort in building its green energy business segment, OCK was awarded a contract worth approximately RM20 million to supply and construct a 10 megawatt solar project in Sepang, which is the largest solar farm in Malaysia upon completion. This project is targeted to be completed by the year end of 2013. Furthermore, through its acquired wholly-owned subsidiary Milab Marketing Sdn. Bhd, the Group has obtained a development order for a 1 megawatt solar farm in Kelantan. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1388745