KUALA LUMPUR (Nov 28): OCK Group Bhd has inked a memorandum of understanding (MoU) today with China Information Technology Designing & Consulting Institute Co Ltd (CITC) — a subsidiary of China United Network Communications Group Co Ltd (China Unicom) — to explore a collaboration in telecommunications and technology services.

In a Bursa Malaysia filing by OCK, it said the MoU outlined the framework of the business collaboration between OCK and CITC in telecommunication and technology services.

"The telecommunication services include but not limited to, mobile infrastructure and network services including 5G and fibre optic infrastructure and bandwidth leasing. The technology services in turn, include but also not limited to, 5G and beyond applications services, Internet of Things and artificial intelligence," it said.

The group said CITC is obliged to perform technical and market analysis, recommend right proposals and provide end-to-end information network solutions for the construction of telecommunication networks, amongst others.

OCK will in turn provide, amongst others, site access, and engage with the related authorities for all the relevant approvals and licensing.

OCK's managing director Sam Ooi Chin Khoon said the MoU taps on both parties' respective strengths and complements each other's advantages.

"This is truly a 'win-win' for both sides. This signing allows OCK to bring in smart city platforms and applications into Malaysia.

"In fact, China Unicom has already successfully implemented these platforms and applications in a few cities in China," he added.

At 3.23pm, shares of OCK rose 2.54% or 1.5 sen to 60.5 sen with a market capitalisation of RM570.35 million.