Telecoms company OCK forms another company in Myanmar
PETALING JAYA: Telecommunications network provider OCK Group Bhd, which announced its entry into Myanmar as well as Vietnam in June, has set up Well Synergy Resources Private Ltd under unit OCK International Sdn Bhd in Myanmar.
The company’s announcement comes on the heels of flexible packaging manufacturer Daibochi Plastic and Packaging Industry Bhd’s announcement of an RM29mil investment for a controlling stake in a joint-venture company in the country.
It had set up another subsidiary called OCK Myanmar Towers Pte Ltd in June.
“Well Synergy is established as the subsidiary of OCK International with a registered capital of US$300,000 divided into 3,000 shares of US$100 each in which 2,999 shares are held by OCK International Sdn Bhd and one share held by Low Hock Keong,” the announcement to Bursa Malaysia said.
OCK said Well Synergy has as its principal activity engineering services, rental business, market research and management services.
The company earlier in the year had signed a deal with Telenor Myanmar to build 920 telco towers in Myanmar that it will own and lease out. These towers would be completed in the first quarter of next year and start contributing to the company’s revenue from then.
OCK had earlier also said that the conducive business environment stems from telcos investing in upgrading their equipment and infrastructure to accommodate the rising usage of data with 3G/4G.
This makes it well-placed to benefit from the increase of data demand and corresponding projects due to this network expansion undertaken by the telcos.