Major Estimate Revision • Jun 03
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from RM765.3m to RM704.9m. EPS estimate also fell from RM0.039 per share to RM0.035 per share. Net income forecast to grow 45% next year vs 7.7% growth forecast for Telecom industry in Malaysia. Consensus price target up from RM0.60 to RM0.62. Share price rose 2.7% to RM0.39 over the past week. New Risk • Jun 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (RM392.1m market cap, or US$98.7m). New Risk • May 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM387.0m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (RM387.0m market cap, or US$97.9m). Declared Dividend • Mar 02
Final dividend of RM0.005 announced Shareholders will receive a dividend of RM0.005. Ex-date: 12th March 2026 Payment date: 25th March 2026 Dividend yield will be 2.2%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (124% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 74% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Feb 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM389.3m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Dividend is not well covered by cash flows (124% cash payout ratio). Market cap is less than US$100m (RM389.3m market cap, or US$99.7m). New Risk • Dec 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM407.7m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Dividend is not well covered by cash flows (125% cash payout ratio). Market cap is less than US$100m (RM407.7m market cap, or US$99.8m). Announcement • Oct 30
OCK Group Berhad, Annual General Meeting, Dec 02, 2025 OCK Group Berhad, Annual General Meeting, Dec 02, 2025, at 10:00 Singapore Standard Time. Location: zamrud room, the saujana hotel kuala lumpur, saujana resort, jalan lapangan terbang saas, selangor, 40150 shah alam Malaysia Price Target Changed • Sep 12
Price target increased by 7.3% to RM0.59 Up from RM0.55, the current price target is an average from 3 analysts. New target price is 40% above last closing price of RM0.42. Stock is down 13% over the past year. The company is forecast to post earnings per share of RM0.035 for next year compared to RM0.027 last year. Reported Earnings • Aug 31
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: RM0.027 (down from RM0.034 in FY 2024). Revenue: RM647.0m (down 6.2% from FY 2024). Net income: RM28.3m (down 20% from FY 2024). Profit margin: 4.4% (down from 5.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.1%. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year and the company’s share price has also increased by 1% per year. New Risk • Aug 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Executive Director Inn Ooi was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Jun 05
Price target decreased by 10% to RM0.55 Down from RM0.61, the current price target is an average from 3 analysts. New target price is 33% above last closing price of RM0.41. Stock is down 32% over the past year. The company is forecast to post earnings per share of RM0.033 for next year compared to RM0.031 last year. Price Target Changed • May 30
Price target decreased by 8.2% to RM0.59 Down from RM0.65, the current price target is an average from 3 analysts. New target price is 48% above last closing price of RM0.40. Stock is down 32% over the past year. The company is forecast to post earnings per share of RM2.90 for next year compared to RM0.031 last year. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.031 (vs RM0.035 in FY 2023) Full year 2024 results: EPS: RM0.031 (down from RM0.035 in FY 2023). Revenue: RM650.4m (down 10.0% from FY 2023). Net income: RM33.0m (down 9.6% from FY 2023). Profit margin: 5.1% (in line with FY 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Feb 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM438.1m (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (RM438.1m market cap, or US$97.9m). Major Estimate Revision • Dec 05
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM735.1m to RM665.3m. EPS estimate also fell from RM0.038 per share to RM0.03 per share. Net income forecast to grow 26% next year vs 10% growth forecast for Telecom industry in Malaysia. Consensus price target down from RM0.72 to RM0.65. Share price rose 4.4% to RM0.47 over the past week. Reported Earnings • Nov 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: RM160.2m (down 18% from 3Q 2023). Net income: RM7.12m (down 31% from 3Q 2023). Profit margin: 4.4% (down from 5.3% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Nov 29
OCK Group Berhad Reports Unaudited Consolidated Impairment Charges for the Third Quarter Ended September 30, 2024 OCK Group Berhad reported impairment charges for the third quarter ended September 30, 2024. For the quarter, the company reported property, plant and equipment written off of MYR 121,000 against MYR 218,000 a year ago. Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM799.7m to RM770.7m. EPS estimate also fell from RM0.049 per share to RM0.044 per share. Net income forecast to grow 31% next year vs 7.3% growth forecast for Telecom industry in Malaysia. Consensus price target down from RM0.82 to RM0.74. Share price fell 7.8% to RM0.54 over the past week. Price Target Changed • Aug 30
Price target decreased by 8.3% to RM0.74 Down from RM0.80, the current price target is an average from 3 analysts. New target price is 38% above last closing price of RM0.54. Stock is up 23% over the past year. The company is forecast to post earnings per share of RM0.044 for next year compared to RM0.035 last year. Reported Earnings • Aug 30
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: RM158.4m (down 11% from 2Q 2023). Net income: RM7.62m (down 26% from 2Q 2023). Profit margin: 4.8% (down from 5.8% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 30
First quarter 2024 earnings released First quarter 2024 results: Revenue: RM166.0m (down 7.6% from 1Q 2023). Net income: RM10.2m (up 18% from 1Q 2023). Profit margin: 6.2% (up from 4.8% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Announcement • May 01
OCK Group Berhad, Annual General Meeting, Jun 05, 2024 OCK Group Berhad, Annual General Meeting, Jun 05, 2024, at 10:00 Singapore Standard Time. Location: the Zamrud Room, The Saujana Hotel Saujana Resort, Jalan Lapangan Terbang SAAS 40150 Shah Alam, Selangor Malaysia Upcoming Dividend • Mar 05
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 03 April 2024. Trailing yield: 1.8%. Lower than top quartile of Malaysian dividend payers (4.9%). Lower than average of industry peers (4.2%). Price Target Changed • Feb 29
Price target increased by 8.5% to RM0.72 Up from RM0.67, the current price target is an average from 3 analysts. New target price is 26% above last closing price of RM0.57. Stock is up 40% over the past year. The company is forecast to post earnings per share of RM0.047 for next year compared to RM0.037 last year. Announcement • Feb 28
OCK Group Berhad Announces Dividend Policy The Board of Directors of OCK Group Berhad announced that the Company will adopt a Dividend Policy designed to enable shareholders to participate in OCK's profits, while also maintaining an adequate level of reserves to support future growth. Barring any unforeseen circumstances, OCK targets a payout ratio of at least 20% of its consolidated normalized annual net profit after taxation and minority interest (“PATAMI”) for each financial year, to be paid quarterly, after excluding non-operating income that is capital in nature. This Dividend Policy takes effect immediately. The declaration of interim dividends and the recommendation of final dividends are subject to the discretion of the Board and any final dividend for the year is subject to shareholders’ approval. Any dividend payment will depend on various factors, including, inter-alia, OCK’s earnings, operating conditions, capital requirements, future expansion plans, general economic condition, growth /expansion strategy and working capital requirements, the Company’s distributable reserves, any contractual obligations and other factors considered relevant by the Board. The dividend policy reflects the Board’s intention to continue to reward the shareholders and does not constitute a legally binding statement in respect of the Company’s future dividends which are subject to modification (including reduction or non-declaration thereof) at the Board’s discretion. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.037 (vs RM0.031 in FY 2022) Full year 2023 results: EPS: RM0.037 (up from RM0.031 in FY 2022). Revenue: RM724.6m (up 17% from FY 2022). Net income: RM39.4m (up 20% from FY 2022). Profit margin: 5.4% (up from 5.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 30
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: RM196.3m (up 21% from 3Q 2022). Net income: RM10.3m (up 25% from 3Q 2022). Profit margin: 5.3% (up from 5.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Telecom industry in Asia. Price Target Changed • Sep 05
Price target increased by 12% to RM0.60 Up from RM0.54, the current price target is an average from 4 analysts. New target price is 39% above last closing price of RM0.43. Stock is up 1.2% over the past year. The company is forecast to post earnings per share of RM0.034 for next year compared to RM0.031 last year. Reported Earnings • Aug 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: RM177.5m (up 25% from 2Q 2022). Net income: RM10.3m (up 28% from 2Q 2022). Profit margin: 5.8% (up from 5.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Telecom industry in Asia. Announcement • Jul 04
OCK Group Berhad Announces the Appointment of MR OOI INN HUEI as Executive Director OCK Group Berhad announced the appointment of MR OOI INN HUEI as Executive Director. Date of change: 01 July 2023. Age 27. Gender: Male. Nationality: Malaysia. Qualifications: Degree: Bachelor of Commerce in Property Management, Melbourne University, Australia. Others: Foundation Studies, Trinity College, Australia. Working experience and occupation: Mr. Ooi Inn Huei ("Mr. Ooi") is an organised and effective project manager with 3 years of experience in managing various telecommunication engineering projects. He is adept at collaborating with diverse cross-functional teams to technical design solutions, driving continuous improvement and leading end-to-end change management. Mr. Ooi has been working as a Project Manager at OCK Setia Engineering Sdn Bhd, one of the Company's subsidiaries, since January 2021. He is responsible for leading the implementation of outside fiber engineering, which encompasses sourcing, permitting, costing, and construction of the project. His major accomplishments include successfully setting up an in-house team and managing them to assist in the project roll-up. Additionally, he performs comprehensive analysis of the costing to assess the profitability of projects. From June 2018 to December 2020, Mr. Ooi worked as an Associate at Imejjiwa Communication Sdn Bhd. In this role, he was responsible for assisting the managers in their daily tasks, which included preparing presentation slides and engaging in public relations with various clients. One of his major accomplishments during this time was assisting in the successful initial public offering (IPO) for MR. D.I.Y Group Berhad. Announcement • Jun 01
OCK Group Berhad Announces Resignation of Chong Wai Yew as Executive Director OCK Group Berhad announced the resignation of MR. CHONG WAI YEW, age 53 as Executive Director. Date of change is on May 31, 2023. Reason: Due to personal commitment. Reported Earnings • Jun 01
First quarter 2023 earnings released First quarter 2023 results: Revenue: RM179.7m (up 41% from 1Q 2022). Net income: RM8.64m (up 17% from 1Q 2022). Profit margin: 4.8% (down from 5.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Telecom industry in Asia. Buying Opportunity • May 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be RM0.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 5.9%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Price Target Changed • Mar 02
Price target decreased by 8.5% to RM0.56 Down from RM0.61, the current price target is an average from 5 analysts. New target price is 36% above last closing price of RM0.41. Stock is up 2.5% over the past year. The company is forecast to post earnings per share of RM0.035 for next year compared to RM0.032 last year. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: RM0.032 (vs RM0.024 in FY 2021) Full year 2022 results: EPS: RM0.032 (up from RM0.024 in FY 2021). Revenue: RM617.8m (up 27% from FY 2021). Net income: RM33.7m (up 33% from FY 2021). Profit margin: 5.5% (up from 5.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year. Price Target Changed • Dec 29
Price target increased to RM0.65 Up from RM0.59, the current price target is an average from 4 analysts. New target price is 59% above last closing price of RM0.41. Stock is down 9.9% over the past year. The company is forecast to post earnings per share of RM0.03 for next year compared to RM0.024 last year. Reported Earnings • Dec 03
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: RM162.1m (up 37% from 3Q 2021). Net income: RM8.24m (up 65% from 3Q 2021). Profit margin: 5.1% (up from 4.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Telecom industry in Asia. Price Target Changed • Nov 16
Price target increased to RM0.59 Up from RM0.49, the current price target is an average from 5 analysts. New target price is 41% above last closing price of RM0.42. Stock is down 9.7% over the past year. The company is forecast to post earnings per share of RM0.029 for next year compared to RM0.024 last year. Reported Earnings • Aug 30
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: RM142.2m (up 22% from 2Q 2021). Net income: RM8.03m (up 16% from 2Q 2021). Profit margin: 5.6% (down from 6.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.9%, compared to a 4.0% growth forecast for the Telecom industry in Malaysia. Price Target Changed • Jul 13
Price target decreased to RM0.49 Down from RM0.53, the current price target is an average from 2 analysts. New target price is 32% above last closing price of RM0.37. Stock is down 20% over the past year. The company is forecast to post earnings per share of RM0.028 for next year compared to RM0.024 last year. Announcement • Jun 28
Ock Group Berhad Announces the Redesignation of Dato' Syed Norulzaman Bin Syed Kamarulzaman from Independent Director to Non Independent and Non Executive Director OCK Group Berhad announced the redesignation of Dato' Syed Norulzaman Bin Syed Kamarulzaman from Independent Director to Non Independent and Non Executive Director. Age 73, Date of change is June 27, 2022. Reported Earnings • May 31
First quarter 2022 earnings: Revenues in line with analyst expectations First quarter 2022 results: Revenue: RM127.4m (up 12% from 1Q 2021). Net income: RM7.40m (up 3.2% from 1Q 2021). Profit margin: 5.8% (down from 6.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 10%, compared to a 4.2% growth forecast for the industry in Malaysia. Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be RM0.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 6.4%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Announcement • May 02
OCK Group Berhad, Annual General Meeting, Jun 27, 2022 OCK Group Berhad, Annual General Meeting, Jun 27, 2022, at 15:00 China Standard Time. Location: Meeting Room, No. 18, Jalan Jurunilai U1/20, Seksyen U1 Hicom Glenmarie Industrial Park, 40150 Shah Alam Selangor Malaysia Agenda: To consider receiving the audited financial statements for the year ended December 31, 2021 together with the reports of the directors and auditors thereon; to approve the payment of Directors' fees and benefits amounting to RM220,000 for the financial year ended December 31, 2021; to approve the payment of directors' fees and benefits of up to RM300,000 for the period from January 1, 2022 until the conclusion of the next annual general meeting; to re-elect the following directors who retire by rotation: - a) Mr. Low Hock Keong, b) Encik Mahathir Bin Mahzan and c) Rear Admiral (R) Dato' Mohd Som Bin Ibrahim; to re-appoint Messrs. Baker Tilly Monteiro Heng PLT as the auditors of the company for the ensuing year and to authorise the directors to fix their remuneration; and to consider other matters. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Alternate Non Independent Non Executive Director Khairul Bin Ismail was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 27
Price target decreased to RM0.52 Down from RM0.56, the current price target is an average from 2 analysts. New target price is 27% above last closing price of RM0.41. Stock is down 16% over the past year. The company is forecast to post earnings per share of RM0.028 for next year compared to RM0.025 last year. Reported Earnings • Feb 25
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.025 (down from RM0.027 in FY 2020). Revenue: RM484.2m (up 2.3% from FY 2020). Net income: RM25.9m (flat on FY 2020). Profit margin: 5.4% (down from 5.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 12%, compared to a 4.0% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year. Announcement • Feb 25
Ock Group Berhad Announces Interim Single Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2021, Payable on 25 March 2022 OCK Group Berhad announced interim single tier tax exempt dividend of MYR 0.005 per ordinary share for the financial year ended 31 December 2021. Ex-Date is 10 March 2022. Entitlement date is 11 March 2022. Payment Date is 25 March 2022. Major Estimate Revision • Dec 01
Consensus revenue estimates fall to RM480.4m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from RM534.4m to RM480.4m. EPS estimate fell from RM0.029 to RM0.021 per share. Net income forecast to grow 29% next year vs 9.7% growth forecast for Telecom industry in Malaysia. Consensus price target down from RM0.56 to RM0.53. Share price fell 5.4% to RM0.44 over the past week. Reported Earnings • Nov 25
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: RM118.7m (up 1.3% from 3Q 2020). Net income: RM5.00m (down 23% from 3Q 2020). Profit margin: 4.2% (down from 5.6% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.8%, compared to a 4.4% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 3% per year. Reported Earnings • Aug 29
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM116.5m (up 7.8% from 2Q 2020). Net income: RM6.93m (up 8.3% from 2Q 2020). Profit margin: 6.0% (up from 5.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • May 29
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM113.4m (up 3.8% from 1Q 2020). Net income: RM7.17m (up 9.0% from 1Q 2020). Profit margin: 6.3% (up from 6.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Executive Departure • May 20
Independent & Non-Executive Director has left the company On the 11th of May, Syed Bin Syed Razlan Jamalullail's tenure as Independent & Non-Executive Director ended after 5.5 years in the role. We don't have any record of a personal shareholding under Syed's name. Syed is the only executive to leave the company over the last 12 months. Price Target Changed • Mar 04
Price target lowered to RM0.57 Down from RM0.61, the current price target is an average from 2 analysts. The new target price is 9.1% above the current share price of RM0.52. As of last close, the stock is down 2.8% over the past year. Reported Earnings • Feb 27
Full year 2020 earnings released The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM473.1m (flat on FY 2019). Net income: RM25.6m (down 9.4% from FY 2019). Profit margin: 5.4% (down from 6.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings miss expectations Revenue missed analyst estimates by 0.4%. Earnings per share (EPS) also missed analyst estimates by 4.5%. Over the next year, revenue is forecast to grow 14%, compared to a 7.8% growth forecast for the Telecom industry in Malaysia. Is New 90 Day High Low • Feb 22
New 90-day high: RM0.53 The company is up 25% from its price of RM0.42 on 24 November 2020. The Malaysian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM16.33 per share. Price Target Changed • Dec 23
Price target lowered to RM0.60 Down from RM0.66, the current price target is an average from 4 analysts. The new target price is 37% above the current share price of RM0.44. As of last close, the stock is down 25% over the past year. Is New 90 Day High Low • Dec 04
New 90-day high: RM0.52 The company is up 7.0% from its price of RM0.48 on 04 September 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.015 per share. Is New 90 Day High Low • Oct 26
New 90-day low: RM0.42 The company is down 16% from its price of RM0.50 on 28 July 2020. The Malaysian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.13 per share. Is New 90 Day High Low • Oct 07
New 90-day low: RM0.43 The company is down 18% from its price of RM0.53 on 09 July 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.13 per share.