Tuesday, March 24, 2009

BUKTI KORUPSI MUKHRIZ - MAHATHIR

Opcom Holdings Berhad
http://www.opcom.com.my

Mukhriz sebagai chairman atau managing director syarikat Opcom.Lt.Jen (B)dato’ Seri Zaini b. Hj Mohd Said pula sebagai independent non-executive director

Produk syarikat ini ialah kabel fiber optik(Aerial Cable,All Dielectric Self Supporting (ADSS) Cable, Duct Cable,Direct Burial Cable,Anti-Rodent Cable.

The Group’s major customers are as follows:
Telekom Malaysia Berhad
Tenaga Nasional Berhad
Celcom (M) Berhad
Maxis Broadband Sdn Bhd
Fiberail Sdn Bhd
TM International (Bangladesh) Limited (AKTEL)
Multinet Pakistan (Private) Limited (MULTINET)
Eastern Telecommunications Philippine Incorporation (ETPI

FINANCIAL HIGHLIGHTS

In the financial year ended 31 March 2008, Opcom attained a strong growth in earnings. A higher net profit of RM4.56 million was recorded, on the back of revenue amounting to RM55.07 million. This profit figure was a significant increase of 113.1% in spite of
a 17.2% decline in revenue.

Opcom’s improved performance was a direct result of the implementation of strategic procurement plans leading to improvement in the sourcing of raw materials and services, stringent cost controls, increased efficiency as well as proactive management of foreign
exchange exposure. Consequently, Opcom’s gross profit reached RM19.16 million, a significant rise of 35.3% when compared to the preceding financial year’s figure of RM14.16 million.
The Group recorded earnings per share of 3.53 sen for the financial year ended 31 March 2008.

DIVIDENDS

In respect of the financial year ended 31 March 2008, the amount of dividends paid by the Group were as follows:-

(i) an interim ordinary dividend of 0.75 sen per ordinary share tax exempt totaling RM967,500 in respect of the year ended 31
March 2007 on 8 May 2007; and
(ii) an interim ordinary dividend of 1.35 sen per ordinary share less tax at 26% totaling RM1,288,710 in respect of the year ended 31 March 2008 on 31 January 2008.

OUTLOOK

The market for fiber optic cables is expected to remain vibrant over the next 12 months
with demands being driven by Malaysia’s national broadband programme. Phase 1 of
this project, known as High Speed Broadband (HSBB) and to be undertaken by Telekom
Malaysia Berhad (Telekom), would involve investments of RM11.3 billion to be made over
the next 10 years, with the Government co-investing RM2.4 billion over a period of 3
years. Trials using fiber optics are currently being undertaken in the Klang Valley.
According to the Malaysian Communications and Multimedia Commission (MCMC),
broadband subscriptions have increased from 0.7 million users in 2006 to 1.0 million
users in 2007. In view of this continuing trend, the HSBB initiative is expected to further
increase broadband penetration from 15.5% per 100 households at the end of 2007
to 50% by year 2010. Consequently, a higher demand for fiber optic cables capable of
higher bandwidth for HSBB would be observed.

Of interest is the Memorandum of Understanding recently signed between Telekom
and Iskandar Regional Development Authority (IRDA) to provide broadband telecommunications infrastructure that will cater to approximately 718,000 commercial
and residential premises within Iskandar Malaysia; including Nusajaya, Central Business District, Western Gate Development, East Gate Development and the Senai-Skudai corridor(s). Telekom is investing RM1.9 billion to provide broadband telecommunications infrastructure in Iskandar Malaysia. This investment would cover a 10-year period with the implementation of HSBB scheduled for the end of 2008.

Opcom believes that the fiber optic cable sector will maintain its upbeat trend given the proposed network infrastructure investments in areas such as Metro Ethernet, Next Generation Networks and High Speed Broadband Networks that are being carried out by Telekom and other licensed telecommunications companies. The Group estimates that there would be a minimum increase of 30% in the demand of fiber optic cables for the year 2008 as compared to 2007 as a result of the cable portion of these New Generation Internet Protocol-based networks being deployed for the nation’s transport and access networks. In view of this, Opcom is targeting to supply up to 50% of the cable requirements for the Malaysian market.

PROSPECTS

The Board is positive that the Group’s performance for the financial year ending 31 March 2009 will continue to further improveas Opcom is expected to benefit from the capital investments made by telecommunication companies to cater to the growing number of applications requiring large bandwidth. Notably, both the HSBB and IRDA initiatives would translate into a higher
demand for fiber optic cables. July and October 2007 saw Opcom receiving a variation order valued at RM54.6 million from Telekom. Together with new contracts secured over this financial year, including a RM2.1 million award from Celcom in January 2008 and a RM1.5 million contract from Fiberail Sdn Bhd in April 2008, these are positive indications of a healthy demand for fiber optic cables in the local market.

Since mid-2007, Opcom has also been working very closely with our technical partner, Ericsson Network Technologies AB of Sweden (Ericsson), in the latter’s bids for contracts in Asian countries. Due to our proximity to other Asian countries, Ericsson is leveraging on our manufacturing facilities to supply fiber optic cables and related accessories to these regional markets.

Ericsson is one of the shortlisted consortiums for Singapore’s Next Generation National Broadband Network project that is estimated to involve investments of between RM3.0 billion and RM5.0 billion. The result of the bid is expected to be known in the period between July and September 2008. At the same time, Opcom is also looking at diversifying its current markets for fiber optic cables, including pursuing markets in the region such as Bangladesh, the Philippines, Pakistan, Indonesia and Sri Lanka. We are actively building relationships in these target markets by collaborating with local companies as well as working with local Ericsson companies within these respective markets.

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