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KUALA LUMPUR: OCK Group Bhd expects to raise gross proceeds of up to RM145.24mil through a proposed renounceable 1-for-2 rights issue of up to 290.49 million new shares with free detachable warrants.
OCK Group tripped into correction mode since peaking out temporarily at an all-time high of RM1.07 on July 24 last year. Based on the daily chart, this stock will remain in consolidation phase as long as the near one-year-old bearish descending line, resting at the 91-sen level, is intact. The immediate support is anticipated at the 81-sen mark, followed closely by the 77-sen line.
MALAYSIA’S capital markets are undergoing a change.
PETALING JAYA: Telecommunications network services provider OCK Group Bhd is in the final stages of getting a contract from Telenor’s Myanmar unit to build and lease over 900 towers in the country. Sources told StarBiz that the contract would last for 12 years and all the towers under this phase were expected to be completed next year.
KUALA LUMPUR: OCK Group Bhd will invest US$75mil (RM323.6mil) to build 920 telecommunications towers in Myanmar next year for Norwegian telecommunications group Telenor and aims to construct up to 3,000 towers in five years there.