KUALA LUMPUR (April 2): Telecommunications network solutions provider OCK Group Bhd (KL:OCK), whose share price dropped to its lowest in more than one year last Friday (March 28), said the recent earthquake in Myanmar has only caused limited damage to its tower network, with only four sites affected and no disruption to service.

OCK clarified in a statement on Wednesday that 90% of OCK’s tower sites are located in rural and suburban areas, away from the earthquake that struck northern Myanmar, near Mandalay.

“This geographical positioning has greatly minimised the potential for disruptions to our network and operations,” OCK said, adding that all of its employees are safe.

“As of today, we have inspected 95% of our sites, and the results are largely favourable. Only four towers have been identified as requiring dismantling due to damage sustained from the earthquake,” it noted.

OCK said none of the ground-based towers assessed so far have shown any significant damage that would impact their functionality or the network’s performance. 

“While further inspections will continue over the next few days to ensure that all sites are thoroughly evaluated, we do not anticipate any major long-term impact on OCK’s Myanmar’s operations or business performance,” it said.

OCK said it remains confident in its ability to maintain its service in Myanmar, supported by its regional presence and diverse tower portfolio.

As of 2023, OCK owns more than 5,500 telecommunication sites across the Asean region, with 3,650 sites in Vietnam, 1,200 sites in Myanmar, and 650 sites in Malaysia, according to the company’s annual report.

At noon break on Wednesday, shares of OCK were traded half a sen or 1.35% higher at 37.5 sen, valuing the company at RM395.8 million. The stock is down 22.68% this year.