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PETALING JAYA: OCK Group Bhd, one of the country’s leading telecommunications network services providers, has incorporated a subsidiary with Myanmar Integrated Networks (MIN) named MIN-OCK Infrastructure Pte Ltd.
RHB Research has advised investors to buy on current weakness, supported by a two-year compounded annual growth rate of 52%. It views the recent appointment of Dr Yap Wai Khee as OCK’s new chief executive positively given his vast experience in overseeing telco assets in emerging markets under the Axiata Group and strengthening management execution.
Stocks on Bursa Malaysia are off to a rocky start in 2015. It’s a continuation of what has been happening late last year when the decline in crude oil prices and the prospects of a better economy and higher interest rates in the US meant that there was an exodus of foreign money from the local stock market.
ALLIANCE DBS Research has maintained its “hold” call on Muhibbah Engineering, saying it was cautious of the company’s thinning orderbook balance. The research house said more job wins were needed to provide a comfortable degree of earnings visibility.
RHB Research has initiated coverage on OCK with a “buy” rating and fair value of RM1.65, which takes into account the dilution from the placement exercise and new shares to be paid as consideration for the acquisition of PT Mulia Telecommunication.