<!–GA_googleFillSlot(“Business_Story_toptext”);–>

KUALA LUMPUR: OCK Group Sdn Bhd has received approval from the Securities Commission to list on the ACE Market of Bursa Malaysia.

In a statement yesterday, OCK said it aimed to be one of the largest telecommunications network services (TNS) providers in the market in terms of revenue with a total enlarged share capital of RM25.9mil or 259 million shares.

The company plans to list a total of 75 million new shares on Bursa. Upon listing, it is expected to emerge as a TNS provider with the largest market capitalisation on Bursa.

OCK group managing director Sam Ooi said the listing was part of the group’s expansion plan and would provide “a strong kick-off for its strategic direction going forward.”

“The outlook for telecommunications network services in Malaysia remains in the positive light and the estimated market size of RM5.8bil last year is projected to grow to RM6.7bil in 2016.

“In 2011, we obtained our network service provider (NFP) licence from the Malaysian Communications and Multimedia Commission which permits the group to build, own and rent out telecommunication towers,” he said.

Ooi said the NFP licence would enable it to expand its service opportunities further which would contribute positively to its future long-term recurring income.

OCK provides services to more than 90% of Malaysia’s telecommunication providers. — Bernama

Article source: http://biz.thestar.com.my/news/story.asp?file=/2012/6/14/business/11476357&sec=business