Business News

OCK Group launches RM150m Sukuk programme

Monday, 23 September 2013

KUALA LUMPUR: OCK Group Bhd has launched a RM150mil Sukuk programme with a tenure of up to 20 years.

Its managing director Sam Ooi said on Monday the proceeds from the Sukuk programme would be utilised for its telecommunication network services segment.

OCK also plans to build and acquire more telecommunication towers, which it will later lease to telecommunication operators. 

"The number of towers we will acquire or build will depend on the demand from operators," he said at a press conference after the launch.

According to Ooi, a three-legged tower costs between RM250,000 and RM 300,000 while the cost to build a rooftop site is RM60,000.

He said the demand for rooftop sites is 70% compared to 30% towers.

He said the company was in talks with interested parties to subscribe to its Sukuk programme but "nothing has been firmed up yet".

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