KUALA LUMPUR (Nov 13): Telecommunications network provider OCK Group Bhd (KL:OCK) announced on Thursday it is acquiring Edotco Group’s telecom tower operations in Laos and will start building 30 new tower sites there.

The purchase price was not disclosed, and OCK has not yet filed the transaction details with Bursa Malaysia. Axiata Group Bhd (KL:AXIATA), which owns 63% of Edotco, also made no announcement.

OCK group managing director Datuk Wira Sam Ooi Chin Khoon in a brief press statement said the Laos acquisition marks a key step in its regional expansion. The company aims to grow its tower portfolio, meet rising network demand, and boost recurring income through tower leasing and managed services.

Edotco Laos was established in 2019, providing build-to-suit and co-location services to telecommunications providers to meet growing infrastructure needs, according to its official website. 

Edotco’s sale of its Laos operations leaves it operating in Malaysia, Bangladesh, Pakistan, the Philippines, Cambodia, Sri Lanka, and Indonesia. Before the sale, it had about 33,904 towers and over 57,000 tenancies. Axiata is the majority owner, Khazanah Nasional Bhd holds 31.71%, and Retirement Fund Inc (KWAP) owns 5.29%.

Shares of OCK closed half a sen or 1.12% lower at 44 sen on Thursday, giving the company a market capitalisation of RM469.1 million. Year to date, the counter has fallen 8%. Meanwhile, Axiata shares slipped three sen or 1.09% to RM2.72, valuing the group at RM24.99 billion. Year to date, Axiata’s share price has risen 13%.