【OCK 0172 交流专区】

icy97

Date of change	15 Jun 2016
Name	MR LIEW KOK SEONG
Age	48
Gender	Male
Nationality	Malaysia
Type of change	Resignation
Designation	Chief Financial Officer
Reason	Accepted the position of senior management post at another public company.
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of shareholders	No
Qualifications	i)Bachelor of Accounting (Honours) from University of Malaya ii) Member of Malaysian Institute of Accountants
Working experience and occupation	Mr Liew Kok Seong graduated with a Bachelor of Accounting (Honours) from University of Malaya in 1992 and is a member of Malaysian Institute of Accountants. He started his career in 1992 as Articled Audit Assistance with KPMG, a global firm offering tax, audit and advisory services. Between 1997 and 2001, he joined a construction company for a brief period and subsequently joined an IT company as the Senior Manager of Finance. In 2001, he joined The Store Corporation Berhad as Assistant General Manager of Finance Division. In 2006, he was appointed as the CFO of Green Packet Berhad ("GPB") and in 2012, he was appointed as the CFO of Cuscapi Berhad ("Cuscapi"). During his tenure as the CFO in GPB and Cuscapi, he was primarily responsible for overseeing the financial reporting, business planning, treasury affairs and tax planning as well as played a pivotal role in the areas of corporate finance, and mergers and acquisition. He possessed over 24 years of experience in the areas of corporate finance, management accounting and reporting, business planning, treasury affairs and taxation. Throughout his career, he has served in various listed companies and industries including IT, telecommunication, retail, property and construction and audit.

icy97

Type	Announcement
Subject	OTHERS
Description	INCORPORATION OF A NEW SUBSIDIARY- OCK SEA TOWERS  PTE LTD
Introduction The Board of Directors of OCK Group Berhad (“OCK” or “the Company”) wishes to announce that the Company had on 15 June 2016 completed the incorporation OCK SEA TOWERS PTE LTD (“OST”) as a wholly-owned subsidiary. Information on OST OST was incorporated on 7 June 2016 under Accounting & Corporate Regulatory Authority (ARCA) Singapore  with an issued and paid-up share capital of SGD1-00 comprising one (1) ordinary share of SGD1-00. The intended principal activity of OST is tower facilities, utilities and communication network for mobile and broadband operators. Financial Effects The incorporation of OST is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending 31 December 2016. Directors’ and Major Shareholder’s Interest Mr Ooi Chin Khoon, being the director and substantial shareholder and Mr Low Hock Keong, being the director and shareholder of OCK have declared their interests by virtue of the fact that they are the first directors in OST. Apart from the above, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the Acquisition. This announcement is dated 15 June 2016.

icy97

Type	Announcement
Subject	OTHERS
Description	INCORPORATION OF A NEW SUB-SUBSIDIARY- OCK MYANMAR TOWERS  PTE LTD
Introduction The Board of Directors of OCK Group Berhad (“OCK” or “the Company”) wishes to announce that  OCK SEA TOWERS PTE LTD, a wholly-owned subsidiary company of the company had on 16 June 2016 completed the incorporation OCK MYANMAR TOWERS PTE LTD (“OMT”) as a wholly-owned subsidiary, which in turn a sub-subsidiary of the Company. Information on OMT OMT was incorporated on 15 June 2016 under Accounting & Corporate Regulatory Authority (ARCA) Singapore  with an issued and paid-up share capital of SGD1-00 comprising 1 ordinary share of SGD1-00. The intended principal activity of OMT is tower facilities, utilities and communication network for mobile and broadband operators. Financial Effects The incorporation of OMT is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending 31 December 2016. Directors’ and Major Shareholder’s Interest Mr Ooi Chin Khoon, being the director and substantial shareholder and Mr Low Hock Keong, being the director and shareholder of OCK have declared their interests by virtue of the fact that they are the first directors in OMT. Apart from the above, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the incorporation. This announcement is dated 16 June 2016.

icy97

OCK缅甸越南设子公司

2016年6月21日
（吉隆坡20日讯）电信网络供应商OCK集团（OCK，0172，主板贸易股）分别在缅甸和越南成立非直接子公司。

根据OCK集团文告，公司分别在缅甸成立OCK MyanmarTowers有限公司，以及在越南成立OCK Vietnam Towers有限公司，以参与流动和宽频业者的电信塔设备、公用和电信网络相关活动。

OCK集团董事经理黄贞焜和公司董事刘福强（译音）均担任这两家公司的董事。

集团早前和缅甸合作伙伴King Royal科技与缅甸Telenor签约，在当地兴建920个电信基站，提供强稳的通话与数据覆盖率。【e南洋】

Type	Announcement
Subject	OTHERS
Description	INCORPORATION OF A NEW SUB-SUBSIDIARY- OCK VIETNAM TOWERS  PTE LTD
Introduction The Board of Directors of OCK Group Berhad (“OCK” or “the Company”) wishes to announce that  OCK SEA TOWERS PTE LTD, a wholly-owned subsidiary company of the company had on 16 June 2016 completed the incorporation OCK VIETNAM TOWERS PTE LTD (“OVT”) as a wholly-owned subsidiary, which in turn a sub-subsidiary of the Company. Information on OVT OVT was incorporated on 15 June 2016 under Accounting & Corporate Regulatory Authority (ARCA) Singapore  with an issued and paid-up share capital of SGD1-00 comprising 1 ordinary share of SGD1-00. The intended principal activity of OVT is tower facilities, utilities and communication network for mobile and broadband operators. Financial Effects The incorporation of OVT is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending 31 December 2016. Directors’ and Major Shareholder’s Interest Mr Ooi Chin Khoon, being the director and substantial shareholder and Mr Low Hock Keong, being the director and shareholder of OCK have declared their interests by virtue of the fact that they are the first directors in OVT. Apart from the above, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the incorporation. This announcement is dated 16 June 2016.

icy97

缅甸建电信基站
OCK集团获1.63亿贷款

2016年6月30日
（仰光29日讯）电信网络供应商OCK集团（OCK，0172，主板贸易股）缅甸子公司，获得4000万美元（约1.63亿令吉）的银团贷款，用于融资位于缅甸的电信基站兴建项目。

去年12月，OCK集团与缅甸Telenor签署总值7020万美元（约2.85亿令吉）合约，以“兴建和租赁”的模式在当地兴建920个电信基站。

除了贷款融资，其余的300万美元（约1218万令吉）通过发行附加股筹得。

此贷款也是缅甸于去年开放外资银行进入后的第一项银团贷款融资活动。

银团成员包括马银行（MAYBANK，1155, 主板金融股）、华侨银行、大华银行，以及盘谷银行各别在仰光的分行。

OCK集团董事经理黄贞焜表示：“我们感激银行对本集团在缅甸扩展的支持，也期待与缅甸Telenor长期合作，开发缅甸电信网络的潜能。”【e南洋】

icy97

Date of change	01 Jul 2016
Name	MISS HILLARY CHUA PEI SUM
Age	40
Gender	Female
Nationality	Malaysia
Type of change	Appointment
Designation	Chief Financial Officer
Qualifications	MIA MEMBER AND QUALIFIED CPA
Working experience and occupation	She has 17 years of business and financial management experience in various organizations in Malaysia, Singapore and Australia  Altel, Axiata, Maxis, Citibank, American Express and PricewaterhouseCoopers ("PwC"). She started her career in PwC in the area of auditing and business assurance in 1999. She later moved on to American Express International, specializing in controls and procedures, business planning and financial analytics. Her last position with Amex was the Business Planning Manager in Australia overseeing the Australias Card business. She stayed with AMEX for 5 years. Upon returning to Malaysia, she later took up a position in Citibank Malaysia as the Head of Strategic Planning and Analysis in the credit cards business. Seeking to diversify her experience in Telecommunication, she later joined Maxis in 2008 as the Manager of Management Accounts in Mobile Finance. Recognising her extensive experience in analytics, financial and accounting management, she was offered a position of Assistant Vice President in Axiata within the Strategic Planning Division. Having worked in established telecommunications companies, in 2012, she joined Altel Communications (one of the start-up Mobile Network Operators that was awarded the 4G LTE license) to establish the Finance operations in a start-up environment and grew the business to mid-size revenue-generating company. She was later entrusted to take-up the newly created Group CFO role in Altel Holdings to oversee the financial management and operations of 3 subsidiaries (Altel Communication, MYTV Broadcasting and Net2One).  This was in-line with the expansion of the Groups into new foray of Mobile broadband, Digital TV Broadcasting and Fixed line telecommunication businesses. She stayed with the Group for 4 years prior to joining OCK. She brings the knowledge and experience in MNCs, Established Corporations and Local start-up experience to complement OCKs future growth initiatives.

icy97

料获更多电信塔合约
OCK扩充海内外业务

2016年7月9日
（吉隆坡8日讯）国内最大的电信支持服务供应商OCK集团（OCK，0172，主板贸易股），近期不断探索扩充海内外业务，分析员相信能获取更多电信塔建筑合约。

OCK集团独资子公司OCK Yangon私人有限公司，近期与缅甸多家外国银行签署合约，借贷4002万美元（约1亿6135万令吉），发展缅甸920座电信塔建筑工程。

据悉，缅甸基建工程蓬勃发展，电信营运商被指需在2017年，提供至少75至85%的区域覆盖率。

Telenor集团更放眼在5年内，达至90%的人口覆盖率，并在缅甸建造9000座电信塔。

对此，Inter-Pacific研究分析员认为，OCK Yangon能通过Telenor集团的扩展计划，获取更多电信塔建筑合约。

租给电信公司

目前，该分析员预测Telenor集团有意通过建筑或联营关系，增加2000座电信塔。

截至目前，OCK集团已完成50座电信塔建筑工作，并计划每月完成150座电信塔建筑，总共920座电信塔有望在年底竣工。

另外，OCK集团完成电信塔建筑后，将会以租凭方式出租给其他电信营运公司，以提高公司营业额。

因此，研究员给予公司维持“买入”评级，同时将目标价格从原有的81仙，上调至93仙。



【e南洋】

icy97

Type	Announcement
Subject	OTHERS
Description	SUBSCRIPTION OF FIVE (5) SHARES IN OCK VIETNAM TOWERS PTE LTD BY OCK SEA TOWERS PTE LTD, A WHOLLY OWNED SUBSIDAIRY OF THE COMPANY
(1) Introduction The Board of Directors of OCK Group Berhad (“OCK”) is pleased to announce that its wholly owned sub-subsidiary, OCK SEA Towers Pte. Ltd. (“OST”) and CapAsia Telecommunications Ltd had on 15 July 2016 subscribed for five (5) Ordinary shares and four (4) Ordinary Shares of USD1-00 each in OCK Vietnam Towers Pte. Ltd. (“OVT”) [“the Subscriptions”] respectively. Upon the completion of the Subscriptions, OVT shall cease to be a wholly-owned subsidiary of OST and remains as a 60% owned subsidiary of OST, which in turn a sub-subsidiary of OCK. (2) Information on OVT OVT was incorporated on 15 June 2016 under Accounting & Corporate Regulatory Authority (ARCA) Singapore with an issued and paid-up share capital of SGD1-00 comprising 1 ordinary share of SGD1-00 and USD9.00 comprising 9 Ordinary Shares of USD1.00 each. The intended principal activity of OVT is tower facilities, utilities and communication network for mobile and broadband operators. (3) Financial Effects The Subscriptions is not expected to have any material effect on the earnings or net assets of OCK for the financial year ending 31 December 2016. (4) Directors’ and Major Shareholder’s Interest Mr Ooi Chin Khoon, being the director and substantial shareholder and Mr Low Hock Keong, being the director and shareholder of OCK have declared their interests by virtue of the fact that they are the first directors in OVT. Apart from the above, none of the directors or substantial shareholders of OCK and/or persons connected with them has any interest, direct or indirect, in the incorporation. This announcement is dated 15 July 2016.

icy97

Type	Announcement
Subject	OTHERS
Description	OCK GROUP BERHAD (OCK or the Company)ARTICLE ENTITLED:  OCK to build telco towers for Vietnamese
The Company would like to clarify on the article entitled “OCK to build telco towers for Vietnamese” that appeared in Focus Malaysia on 30 July 2016, in particular the sentence “TELECOMMUNCATIONS (telco) network provider OCK Group Bhd could be investing some RM200 mil to build telco towers for lease to an operator in Vietnam. The deal is believed to be in the final stages of negotiation. The towers are expected to cost about RM200,000 each, a source says”. The Company has not communicated with Focus Malaysia on this matter, and is not able to substantiate claims by Focus Malaysia. The Company places its listing requirements obligation seriously, and will disclose any material activities on a timely basis under the Listing Requirements. This announcement is dated 1 August 2016.

icy97

否认越南建电信塔
OCK洽购网络公司

2016年8月4日
（吉隆坡3日讯）OCK集团否认在越南洽谈建造电信塔，不过正在洽谈收购一家涉及电信塔设施、公共设施以及移动与宽频通讯网络的公司。

OCK集团昨日发文告，针对《Focus Malaysia》的报道作出澄清时表示，一旦收购计划敲定后，就会作出宣布。

该报道指出，OCK集团将投资2亿令吉建造电信塔，完成后将租给越南业者。洽谈已晋尾声。

不过，该公司对此作出否认，指目前没有与任何越南公司洽商建造电信塔，不过，正洽谈收购一家公司。

OCK集团在年中成立OCK Vietnam Towers有限公司，以参与当地电信塔设备、公用和电信网络相关业务。【e南阳】

Type	Announcement
Subject	OTHERS
Description	OCK GROUP BERHAD (OCK or the Company)ARTICLE ENTITLED:  OCK to build telco towers for Vietnamese
Further to the Company’s announcement made on 1 August 2016 in relation to the abovementioned Article as appeared in Focus Malaysia on 30 July 2016, the Company wishes to deny the statement which disclosed that the Company is investing some RM200 mil to build telecommunication towers for lease to an operator in Vietnam and the deal is believed to be in the final stages of negotiation.  The Company is not in negotiation stage of any contract to build telecommunication towers in Vietnam but the Company is in the midst of negotiation of acquiring a Company which is a tower facilities, utilities and communication network for mobile and broadband operators. Further details of the acquisition will be announced once the negotiation is finalised, and an agreement has been entered into. This announcement is dated 2 August 2016.

icy97

海外营收明年冲25%
OCK 2亿购越南电信塔公司

2016年8月5日
（吉隆坡4日讯）OCK集团（OCK，0172，主板贸易股）今日签署有条件股权买卖协议（SPA），以5000万美元（约2亿250万令吉）收购越南最大电信塔建造公司，借此把明年的海外营业额比重提高至25%。

OCK集团间接持股60%的OCK Vietnam Towers私人有限公司，收购越南设施有限公司（VNI）旗下子公司——东南亚电信控股私人有限公司（SEATH）。

OCK集团董事经理黄贞焜在签署仪式后的媒体发布会说，SEATH持有发展、安装、营运及出租基地收发机站（BTS），在越南拥有1938座电信塔，是当地最大业者。

他披露，SEATH去年的税后净利高达180万美元（约729万令吉），因此，他冀望收购计划能把海外营业额比重提高至25%以上。

同时，OCK SEA Towers私人有限公司也与OCK集团股权合伙人CapAsia电信有限公司（CTL），签署股东协议（SHA），一同监管OCK Vietnam Towers业务及列出双方作为股东的权益。

手握350新订单

黄贞焜表示，OCK集团有意增设国内电信塔数量。

他披露，公司已握有300至350个新订单，预计今年会增设100至130个电信塔。

截至去年，OCK集团电信塔出租维持在1.23倍健康水平，今年增长达1.27倍。黄贞焜展望，未来3至4年，可达1.5至1.6倍出租目标。

一同出席股权买卖协议签署者，包括OCK集团总执行长叶伟奇、OCK集团财务总监蔡馷杉、越南设施有限公司董事经理荀可方，及Capital Advisors Partners 亚洲私人有限公司副总执行长罗伯马丁。【e南洋】

Type	Announcement
Subject	OTHERS
Description	OCK GROUP BERHAD SHAREHOLDERS AGREEMENT BETWEEN OCK SEA TOWERS PTE. LTD.  AND CAPASIA  TELECOMMUNICATIONS LTD.
The Board of Directors of OCK GROUP BERHAD (“OCK” or the "Company”) wishes to announce that OCK SEA TOWERS PTE. LTD. (“OST”), a wholly-owned subsidiary of OCK, had on 4 August 2016 entered into a Shareholders’ Agreement with CAPASIA TELECOMMUNICATIONS LTD. (“CTL”) to regulate the affairs of OCK VIETNAM TOWERS PTE. LTD. ("OVT") Please refer to the attachment for details of the announcement. This announcement is dated 4  August 2016.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5168029

Attachments OCK GROUP BERHAD-Announcement-SHA OVT (final).pdf

icy97

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	OCK GROUP BERHAD ("OCK" OR THE "COMPANY")PROPOSED ACQUISITION BY OCK VIETNAM TOWERS PTE LTD, AN INDIRECT 60.0%-OWNED SUBSIDIARY COMPANY OF OCK, OF 42,042,702 ORDINARY SHARES IN SOUTHEAST ASIA TELECOMMUNICATIONS HOLDINGS PTE LTD ("SEATH"), REPRESENTING THE ENTIRE EQUITY INTEREST IN SEATH FROM VIETNAM INFRASTRUCTURE LIMITED FOR THE INDICATIVE PURCHASE CONSIDERATION OF USD50,000,000 (EQUIVALENT TO APPROXIMATELY RM203,850,000) TO BE SATISFIED ENTIRELY VIA CASH ("PROPOSED ACQUISITION")
On behalf of the Board of Directors of OCK, RHB Investment Bank Berhad wishes to announce that OCK Vietnam Towers Pte Ltd ("OCK Vietnam" or "Purchaser"), an indirect 60.0%-owned subsidiary company of OCK, had on 4 August 2016, entered into a conditional share sale and purchase agreement ("SPA") with Vietnam Infrastructure Limited ("VNI" or the "Vendor") for the proposed acquisition by OCK Vietnam of 42,042,702 ordinary shares in SEATH, representing the entire equity interest in SEATH at the indicative purchase consideration of USD50,000,000 (equivalent to approximately RM203,850,000) which will be fully satisfied via cash ("Proposed Acquisition"). Further details on the Proposed Acquisition are set out in the attachment enclosed. This announcement is dated 4 August 2016.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5168033

Attachments OCK Announcement.pdf

哭哭鸟

Is OCK a gem?

WHAT MOST ANALYSTS SAID?
I can't remember exactly how many analysts wrote about OCK, I think 5 or 6.  RHB, Inter-Pac, Kenanga, Malacca Securities, TA (during listing), UOB Kay Hian and CLSA (not rated)
Most of the analysts used DCF methodology for the calculation of the fair value of OCK (before the Vietnam deal), after considering the Myanmar deal, the estimated TP is about RM1.00.
         
UOB KAY HIAN
What caught my eye in July 2016, UOB estimated fair value of RM1.30 per share in a blue-sky scenerio where OCK expands its sites in Myanmar to 3,000 by 2020 and 4,000 by 2024 with a tenancy ratio of 1.15 times.  I believe, most analysts who are conservative uses tenancy ratio of 1.0 time.
         
CLSA
Lately, in OCK's website, CLSA believe, with the latest government restriction of building towers within the 200m radius and the time lime set by Myanmar for 90% coverage by 2020, CLSA said the management expects tenancy ratio can go as high as 1.8 times.
         
OCK
Yesterday, OCK make another acquisition (60% of SEALTH)  of 1,938 towers in Vietnam with lease attached of between 5-10 years to expiry.  The existing tenancy ratio is about 1.15 times in Vietnam.  OCK believe that they can improve the tenancy ratio to about 1.4 and 1.5 times in the next few years.
         
SO, WHAT IS THE BIG DEAL?
If we look at UOB Kay Hian blue-sky scenerio (TP of RM1.30) with 1.15 times tenancy ratio, it is likely achievable based on CLSA (Myanmar's expected tenancy ratio of 1.8x) and OCK (Vietnam expected tenancy ratio of 1.4-1.5x) in the next few years.
If we revisit UOB Kay Hian's blue-sky scenerio with higher tenancy ratio, say about 1.6 times vs the existing 1.15 times, I wonder what will the analyst get?
Wouldn't UOB's blue-sky scenerio become nomal sky scenerio?
         
RISKS
Of course, it become a standard disclosure for all analysts today to include the risk involved, such as execution risk (which is real), funding risk (also real) and over run of costing (also critical).
As far as Myanmar, based on few analysts visit to Myanmar, OCK has rolled out 50 towers by end of June.  Latest figure by end of July, should be about 150 or more.  Funding of USD40.2m was obtained in July.  Costing is under control, as per management.  Hence, if we follow closely, all the risk above is mitigated.  
CLSA said, it should be rerated if all the risks mentioned is mitigated.
         
VETERAN SAID
Buy on rumours and sell on news. Well, the Vietnam deal is announced. Time to sell? Price did not move much after the announcement.  Although I am not familiar with technical analysis, I did notice OCK is unable to break the 84.5 sen jinx.  I think it happened 4-5 times since the last couple of months.  Not sure what that means.
         
LONG TERM OUTLOOK?
It may be more accurate to value OCK using the DCF methodology since the tower assets has locked in the contracts, and tenancy rate.  The good part is that, POTENTIAL upside is there on the tenancy ratio in Myanmar.  Give this stock 3-4 years, I believe it can exceed the blue-sky scenerio by UOB Kay Hian's analyst target price of RM1.30.
So far, the execution of Myanmar deal is been smooth, lets hope there is no hiccup on Vietnam's deal (EV/EBITDA of 8x). I personally prefer the warrant, it is an OPTION, or RIGHTS to be a shareholder in 4.5 years time.  At the moment the warrant price (25.5sen) is about a third of the mother.

icy97

OCK进军越南带来协同效应

财经  2016年08月08日
（吉隆坡8日讯）OCK集团（OCK，0172，主板贸服股）与CAPASIA电讯公司联手收购东南亚电讯控股公司（SEATH），进军越南市场，分析员相信这项收购將可带来协同效应。

OCK集团在上周四（4日）与CAPASIA电讯公司，联手以5000万美元向越南基建股份公司，全面收购SEATH，进军越南电讯塔市场。

同时，將通过成立公司--OCK越南电讯塔公司（OVT）来持有SEATH，而OCK集团则持有其中60%股权。这项交易预期將在年底完成。

肯纳格研究分析员表示，在財务结构方面，OCK集团及CAPASIA电讯各需承担1200万美元和800万美元，剩余的3000万美元则通过融资机构筹集。

该分析员指出，根据SEATH的2015財政年未经审计账户计算，5000万美元收购代价，等同於企业价值对扣除利息、税项、折旧及摊销前盈利（EV/EBITDA）的7.98倍，及价格对资產账面价值（P/BV）则是1.79倍。

SEATH是越南最大的独立电讯塔营运商，在全国拥有1938座电讯塔，其电讯塔从移动网络营运商收取长期租赁租金，租期约5年至10年。

另外，目前SEATH的租用比率为1.25倍，预测在2017年至少提升至1.27倍，而在过去3个財政年的营业额为4600万令吉至4900万令吉，净利则为720万至760万令吉。

分析员表示，此次收购提供OCK集团进军越南电讯领域的机会，不仅提供公司稳定电讯塔租金收入，也料会获得潜在协同效应，因为OCK集团有跨界营销现有產品及服务的扩展生意机会。

最重要的是，管理层指出，越南独立电讯塔市场料会有潜在的整合，这將为公司提供进一步成长的机会。

新股发售价81仙

另外，OCK集团在今年6月宣布私下配售1亿零560万股，或佔缴足资本约10%的新股，週一宣布发售价为每股81仙。

分析员认为，管理层將用部份筹集的资金於越南生意上。

这项私下配售活动將导致公司股票数额扩大至11亿3550万股。

將私下配售活动的开销计算在內，分析员將2016財政年的税后盈利预测调低1.6%，不过，加入越南的贡献，2017財政年税后盈利预测则上调7.5%，至3170万令吉，管理层预测SEATH每年的营业额为1000万至1200万美元，EBITDA赚幅约为50%。

分析员持续看好OCK集团，主要有4个原因，分別是：1、健康的资金流；2、扩大业务至缅甸及东南亚市场；3、有能力从基础设施共享趋势收益；4、EBITDA赚幅有扩大趋势。

分析员维持OCK集团「跑贏大市」投资评级，但將目標价从95仙，下调至93仙。【东方网财经】


电信塔收入稳健
OCK财测上修7.5%
2016年8月16日
http://www.enanyang.my/news/20160816/电信塔收入稳健br-ock财测上修7-5/

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Type	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-05082016-00002
Subject	SHAREHOLDERS AGREEMENT BETWEEN OCK SEA TOWERS PTE. LTD. ("OST") AND CAPASIA TELECOMMUNICATIONS LTD.
Description	OCK GROUP BERHAD SHAREHOLDERS AGREEMENT ("SHA") BETWEEN OCK SEA TOWERS PTE. LTD. AND CAPASIA TELECOMMUNICATIONS LTD.
Query Letter Contents	We refer to your Company’s announcement dated 4 August 2016, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- 1.         The time and place where the Shareholders’ Agreement may be inspected. 2.         The terms of any arrangement for payment of Initial Investment Amount of up to USD15 million by OST.
Further to the announcement made on 4 August 2015 in respect of the above matter, the Board of Directors of OCK Group Berhad (“OCK” or “the Company”) wishes to furnish the following additional information: 1) Copies of the SHA will be made available for inspection at the Registered Office of OCK at Level 2, Tower 1, Avenue 5, Bangsar South City, 59200 Kuala Lumpur during normal business hours from Monday to Friday (except public holidays) for a period of three (3) months from the date of announcement. 2) With regards to the terms of payment of Initial Investment Amount of up to USD15 million by OST, USD12 million will only be made latest by 7 December 2016, and the difference between USD15 million and USD12 million is to cater for any adjustment at completion of the acquisition by OCK Vietnam Towers Pte Ltd of 100% equity interest in Southeast Asia Telecommunications Holdings Pte Ltd. This announcement is dated 8 August 2016.

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Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	OCK GROUP BERHAD ("OCK" OR THE "COMPANY")PROPOSED PRIVATE PLACEMENT OF UP TO 105,632,181 ORDINARY SHARES OF RM0.10 EACH IN OCK REPRESENTING APPROXIMATELY TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF OCK ("PROPOSED PRIVATE PLACEMENT")
(Unless otherwise stated, the definitions used in this announcement shall carry the same meaning as defined in the announcements made on 6, 8, 14 and 20 June 2016) On behalf of the Company, Kenanga IB is pleased to announce that the Company has fixed the issue price for the placement for 79,224,100 Placement Shares, being the first and only tranche of the Proposed Private Placement, at RM0.81 per Placement Share. The issue price of the Placement Shares of RM0.81 represents a discount of approximately 2.75% to the five (5)-day volume weighted average market price of OCK Shares up to and including 5 August 2016 (being the last market day prior to the Price-Fixing Date), of RM0.8329 per OCK Share. This announcement is dated 8 August 2016.

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OCK GROUP BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	Private Placement
Details of corporate proposal	OCK GROUP BERHAD ("OCK" OR THE "COMPANY") PRIVATE PLACEMENT OF UP TO 105,632,181 ORDINARY SHARES OF RM0.10 EACH IN OCK REPRESENTING APPROXIMATELY TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF OCK
No. of shares issued under this corporate proposal	79,224,100
Issue price per share ($$)	Malaysian Ringgit (MYR)   0.8100
Par Value ($$)	Malaysian Ringgit (MYR)   0.100
Latest issued and paid up share capital after the above corporate proposal in the following
Units	871,465,462
Currency	Malaysian Ringgit (MYR) 87,146,546.200
Listing Date	17 Aug 2016

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SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2016	30 Jun 2015	30 Jun 2016	30 Jun 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	114,011	70,273	192,454	126,435
2	Profit/(loss) before tax	9,420	6,691	15,160	11,867
3	Profit/(loss) for the period	6,608	5,020	11,144	9,053
4	Profit/(loss) attributable to ordinary equity holders of the parent	5,457	5,133	9,167	8,197
5	Basic earnings/(loss) per share (Subunit)	0.69	0.97	1.16	1.55
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4400		0.4300

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OCK电讯塔业务擬分拆上市

财经  2016年09月29日
（吉隆坡29日讯）OCK集团（OCK，0172，主板贸服股）表示，有意在未来將旗下电讯塔公司--OCK SEA TOWERS私人有限公司独立上市，以壮大自身电讯塔业务在东盟的地位。

OCK集团创办人兼董事经理黄贞焜表示，我们计划將旗下所有电讯塔资產整合在一起，加上发展电讯塔业务所涉及的资金数额庞大，因此，未来有必要从母公司分拆上市。

「对于电讯塔业务而言，东盟预料是下一个成长快速的市场，预期產值高达300亿美元（或相等于1200亿令吉），因此发展电讯塔业务的关键便是资本结构。」

他补充说，为了巩固和扩大公司在东盟电讯塔的领先地位，OCK集团于今年6月15日于新加坡成立OCK SEA TOWER私人有限公司，为未来在东盟区域上市集资做好准备。

OCK SEA TOWER私人有限公司的主要业务，是为移动和宽频营运商提供电讯塔设施、公用事业和通信网络。该独资子公司目前有2家子公司，分別为OCK MYANMAR TOWERS私人有限公司和OCK VIETNAM TOWERS私人有限公司。

黄贞焜是出席由MIDF投行主办的午餐匯报会时发表谈话。

3大发展方案

一同出席的OCK集团首席执行员叶伟奇表示，该公司电讯塔资產的3大发展方案，分別为，开发全新项目、购买现成的电讯塔以及出售或租赁电讯塔给电讯营运商。截至目前为止，OCK集团共管理2万6000座电讯塔。

他表示，公司在今年底潜在增加额外的3000座电讯塔，管理电讯塔的数量或將扩大至3万座。

这分別是在缅甸新建的920座电讯塔、大马新建近200座电讯塔，和来自將收购的越南东南亚电讯控股公司（SEATH）所有的电讯塔。收购SEATH的议案仍有待国家银行（BNM）和股东的批准，最快料在今年底完成。

与此同时，黄贞焜正面看待今年的业绩表现，並看好明年来自的海外业务的贡献將有所提高。

「一旦在今年完成缅甸电讯塔建设工作以及收购越南SEATH公司，海外业务的贡献將从2015財政年佔营业额的18%，在2017財政年提高至25-30%之间。」预期缅甸完成920座电讯塔，並租借给挪威电讯公司后，每年的持续性收入为6000万令吉；越南SEATH是当地最大独立电讯塔营运商，这家公司將可为OCK带来每年1200万美元的营收贡献。

另外，黄贞焜透露，目前正在竞標政府的太阳能发电厂项目，参与的价值约为9000万令吉或相等于10至15兆瓦（MW）。

他预计，以上竞標结果会在年底揭晓，最快于明年初投入工程。

他透露，目前该公司2兆瓦太阳能发电厂採购与建造承包项目（Engineering，Procurement & Construction，简称EPC），將在今年底完成。

对於2017年財政预算案的期许，叶伟奇列举3项愿望清单，即，第一、政府颁发更多太阳能发电厂计划；第二、期许政府降低公司所得税；第三、为公司发展和扩大区域市场提供发展奖掖。【东方网财经】

哭哭鸟

OCK Group (OCK MK)

BUY
(Maintained)
Share Price RM0.80
Target Price RM1.00
Upside +25%
(Previous TP RM0.95)

http://www.filedropper.com/ockreportfromuobnov2016