Ever since the re-emergence of Green Packet as one of the largest shareholders for G3 Global, the share price had started to see selling pressure as investors seems to not favour the stake increase by Green Packet.
And as to why they do not like Green Packet, the floor is open for all to comment as we all can re-search what the company had delivered to its shareholders prior to this.
What investors need to think is – would the emergence of Green Packet as shareholder impact the future outlook of G3 Global?
The short answer is NO.
You see – despite quite a ride for G3 Global to reduce their losses, they still managed to minimize their loss in Q1FY22 after a massive kitchen sinking exercise done in Q4FY21. This indicates a trend of recovery for the company as they still have KLIA IoT projects on hand with test kits contract with the current government.
While test kits business’ profit may be one-off for G3 Global, the implementation of smart IoT system for KLIA might just be the tip of their road to recovery moving forward. Bear in mind that KLIA will not toy around and issue contract to companies they do not trust, as it is the face of our country.
And the critical part, a total of 865.69 million placement shares had been taken up between 21st to 24th this month at the costs of 0.042 – where they are definitely not making a profit by selling into the market currently – so my question is, who are the people who take up the shares?
Could it be KLIA?
Could it be their new partner – SenseTime?
Only time will tell. But with an extremely low share price of 0.040 now, we think value had emerged from G3.
What say you?