OCK Group Berhad (OCK) has entered into a tower leasing agreement with Best Telecom Co. Ltd. (Best Telecom). This strategic move marks the Group’s official entry into Lao People’s Democratic Republic (Laos).
Best Telecom, which was recently awarded the 5G spectrum in Laos, is actively planning to launch its 5G network across various provinces and cities in Laos by the end of the year.
This is in line with its aspirations to propel Laos to the forefront of the 5G revolution catering to the surging demand for next-generation connectivity.
To kick start the deployment, OCK was awarded with several cluster of sites located within the metropolitan area of Vientiane and a few major cities where the Group will build and lease telecommunication towers to Best Telecom over the period of 15 years, providing a long-term recurring income stream to the Group.
OCK group managing director Datuk Wira Sam Ooi Chin Khoon said, “This marks our maiden foray into Laos, this agreement further solidifies OCK’s position as a regional telecommunication tower company in the Southeast Asia region. Given OCK’s expertise as a regional tower company coupled with Best Telecom’s local presence and 5G ambitions, OCK is ready to unlock significant opportunities within the Laos market.
“The Group will continue to expand its regional presence, riding on the rising wave of 5G technology along with the ever-growing demand for data connectivity and capitalising on exciting market trends.”
“Additionally, with our prior experience as a tower company in Vietnam, we believe that the telecommunication culture is rather similar to Laos. This familiarity plays a crucial role in aiding us to replicate the success in Laos as the deployment of 5G takes off, he added.
