by NURUL SUHAIDI / Pic courtesy of OCK
OCK Group Bhd, has entered into a shareholder agreement with the Ministry of Finance (MoF) in Laos to expand its presence in the country.
Under the agreement, OCK will set up a joint venture company under the name OCK Laos TowerCo Co Ltd. OCK will hold a majority stake of 70% while the remaining 30% will be held by Laos MoF.
OCK Laos TowerCo will subsequently apply for a tower licence in Laos.
This strategic venture will pave the ways for OCK to tap into the telecommunications industry in the country and further expand its global footprint.
OCK group MD Sam Ooi said the deal will bring quality connectivity to the people of Laos.
“This partnership allows us to bring forth our quality services to other parts of the South-East Asian region and further boost our brand recognition as well as reputation at a regional level,” Ooi added.
OCK is currently looking into expanding its telecommunication services to better suit the rapidly evolving industry and constant demand for better connectivity.
“Given our timely entrance, we believe that we will be able to tap into the new 5G industry in Laos,” Ooi added.
OCK was represented by Ooi and group CEO David Low, while the Ministry of Technology and Communication was represented by Telecommunication Regulation Authority DG Soudchay Lorlonesy.
On behalf of the MoF the agreement was signed by Dr Sonephet Inthavong from the Department of State-Owned Enterprises Reform and Insurance.
Also present were several OCK representatives, MoF Deputy Minister Bounpone Vannachith and Technology and Communication Minister Professor Dr Borviengkham Vongdala.