Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad, the Company wishes to announce that its wholly-owned subsidiary, Next Telecommunications Sdn Bhd has incorporated a subsidiary, Vivohub Mobile Pte Ltd (“Vivohub”) in Singapore on 21 July 2017 governed by Singapore Companies Act (Chapter 50). The Certificate of Incorporation of Vivohub dated 21 July 2017 was received on 24 July 2017.
The initial issued shares of Vivohub would be SGD100,000/- divided into 100,000 new ordinary shares and its principal activities are as follows:
Mobile cellular and other wireless telecommunications network operation; and Retail sale of handphones and other telecommunications apparatus. Next Telecommunications Sdn Bhd shall subscribe for 60% equity interest in Vivohub while the balance 40% to an individual and an entity.
Green Packet an emerging fintech play Mobile payment solutions identified as growth engine Communication and technology services company Green Packet Bhd is eyeing an expansion into a new growth area - the mobile payment solutions segment, an area poised for disruptions through technology. Over the past few years, Malaysians are increasingly embracing e-payments, notably following the greater adoption of smartphones and the introduction of more mobile-based payment platforms. According to the 2016 Visa Consumer Payment Attitudes survey, 74% of Malaysians prefer to make electronic payments instead of cash, an increase of 8% compared with 2015. In fact, Visa indicated in a separate study that seven in ten Malaysians are willing to use mobile wallets. Green Packet, which returned to the black in 2016 after financially bleeding since 2008, has jumped onto the promising mobile payments bandwagon by acquiring payment solutions providers since late last year. To date, it has invested up to RM13mil in its pursuit to penetrate into this segment Moving forward, in the next three years, Green Packet aims to record 10% of top line contribution from this business. The company made its maiden foray into the mobile payment solutions segment earlier this year, after it completed the acquisition of an 80% stake in e-payment firm WebOnline Dot Com Sdn Bhd for RM9mil, via its wholly-owned subsidiary Packet Interactive Sdn Bhd. WebOnline operates a payment gateway and e-wallet service under the brand Webcash. Subsequently, Green Packet piloted its very own Kiple application that functions as an e-wallet for offline payments powered by Webonline. Two week ago, Green Packet added another firm to its portfolio, following the takeover of mobile application developer Mobiduu Solutions Sdn Bhd for RM4mil. The latest acquisition enables Green Packet to provide an end to end solution for its services, as Mobiduu has developed a proven and ready m-commerce and loyalty platform. The company’s new investment strategy seems to bode well for the investors, as Green Packet’s share price has risen significantly by 28.57% to 36 sen year-to-date. In a reply to StarBizWeek, Green Packet chief executive officer Kay Tan says it is high time for the group to tap into the booming demand for e-payment services. “We started looking at the mobile payment solutions space since the fourth quarter of 2016. With Webcash, Kiple and Mobiduu, we are integrating the various solutions into one integrated technology platform to offer a complete solution with the mobile first front-end, e-wallet and a payment gateway back-end.
“This gives the end user a complete experience and our potential business partners an integrated and simple go to market proposition,” says Tan. The Main Market-listed communications and technology services company has a market capitalisation of approximately RM274.1mil, with a price-earnings ratio of 5.32 times. Currently, the single largest shareholder in Green Packet remains the company’s founder Puan Chan Cheong, better known as CC Puan, who has a 30% stake. Green Packet streamlined its loss-making business strategy back in 2014, after it partially disposed its stake in the cash-burning wireless mobile operator Packet One Networks (M) Sdn Bhd (now known as webe) to Telekom Malaysia Bhd. At about the same time, Green Packet refocused its efforts on beefing up its operations. Following the internal reorganisation, the company’s core competencies centre around four key pillars namely solutions, communications, Internet of Things (IoT) and e-services platform.
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http://www.bursamalaysia.com/market/listed-companies/company-announcements/5494837
Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirement of Bursa Malaysia Securities Berhad, the Company wishes to announce that its wholly-owned subsidiary, Next Telecommunications Sdn Bhd has incorporated a subsidiary, Vivohub Mobile Pte Ltd (“Vivohub”) in Singapore on 21 July 2017 governed by Singapore Companies Act (Chapter 50). The Certificate of Incorporation of Vivohub dated 21 July 2017 was received on 24 July 2017.
The initial issued shares of Vivohub would be SGD100,000/- divided into 100,000 new ordinary shares and its principal activities are as follows:
Mobile cellular and other wireless telecommunications network operation; and
Retail sale of handphones and other telecommunications apparatus.
Next Telecommunications Sdn Bhd shall subscribe for 60% equity interest in Vivohub while the balance 40% to an individual and an entity.