KUALA LUMPUR (April 5): Green Packet Bhd saw 3.88% of its shares traded off-market today, via two separate transactions at 19.5 sen a piece totalling RM5.69 million.
The shares were purchased at a 39% discount to its closing price of 32 sen.
According to Bloomberg data, the first block consisted of 26.5 million shares or 3.53% of Green Packet’s share base, while the second block of shares comprised 516,550 shares.
The parties involved in the transactions were unknown at the time of writing.
The company had reported a net loss of RM2.62 million for the fourth quarter ended Dec 31, 2017 (4QFY17), from a net profit of RM451,000 a year earlier, amid lower revenue, higher finance cost, as well as associate losses.
Quarterly revenue fell to RM97.79 million, from RM109.66 million.
Its unaudited net loss for the year stood at RM16.62 million, versus a net profit of RM70.69 million a year earlier, while revenue fell to RM356.97 million from RM366.25 million.
My dear friends, what happened to the MYTV contract? Why the share price continues to drop ? I think most of our friends here agree and positive that the acquisition of the contract will increase the revenue and profit of the company? Look at the price of the share , it is really heart sickening... Before that we also talked about G3, saying that the company has a substantial amount of G3 share which were acquired at a very low price.. it will contribute and bring huge profit to the company when the company dispose G3 shares..... What had happened? Can somebody share your views on this....
THE national infrastructure for digital terrestrial television (DTT) broadcast should achieve at least 95% population coverage by the end of the year, says MYTV Broadcasting Sdn Bhd executive chairman Syed Md Najib Syed Md Noor.
Newly appointed Syed Md Najib tells The Edge in a brief phone conversation that 36 of the 60 transmission towers needed nationwide are already in place.
“When we started relooking at some of the sites, a small number was found to be not suitable and we had to find alternatives,” he says, explaining the delay.
“If you look at the analogue broadcast at the moment, the coverage is approximately 95%, so we are only 3% away from that.”
The infrastructure readiness is vital to complete Malaysia’s transition to fully digital television broadcasting.
The previous deadline to hit 98% readiness was June 30, 2018 — the analogue switch-off (ASO) date after which all analogue broadcasting in Malaysia would cease.
However, in March, the government said the June 30 date would be deferred without specifying a new date, only noting that the rollout must be in tandem with that of Malaysia’s close neighbours.
When asked about his mandate, Syed Md Najib says his role to ensure MYTV’s direction aligns with that of Altel Sdn Bhd, a telecommunications firm owned by Tan Sri Syed Mokhtar Albukhary.
Syed Mokhtar also controls Puncak Semangat, the holding company of MYTV, which is spearheading the DTT rollout.
Syed Md Najib says the convergence of both broadcast and broadband is inevitable. He denies that his appointment is meant to supersede the mandate of current MYTV CEO, Michael Chan.
He declined to comment on whether MYTV is arranging financing.
Another question hanging over MYTV is why the distribution of free set-top boxes (STBs) to 4.2 million households eligible for the government’s 1Malaysia People’s Aid (BR1M) has been halted indefinitely.
Approximately 500,000 free STBs have been distributed to eligible households, with another 3.7 million or so units remaining.
When asked, Syed Md Najib says the deferment of the ASO presented an opportunity to review the specifications of the STBs.
He adds that due to rapid technological advances, newer STBs are now available with more features such as internet connectivity and the capacity to deliver internet-based content to viewers.
He adds that the company is confident the remaining 3.7 million units can be distributed to eligible households by year-end.
“We are working with MCMC on finalising the desirable specifications,” he says. “We are waiting for the final go-ahead on that.”
He adds that to facilitate the distribution speed, there is a possibility that the STBs may be sourced from multiple vendors.
On Jan 23, Green Packet Bhd announced it had inked a contract with MYTV to supply up to 3.6 million decoders over a two-year period from the date of signing.
In its annual report released last week, Green Packet said the contract is worth RM272 million and that the 3.6 million decoders will be distributed to selected Malaysian households under a government subsidy programme.
If you have another better opportunity than gpacket then you should sell as holding on gpacket will generate opportunity cost. However, you are not in need of money , you can hold because if the roll out is likely be then end of this year. By the way, your neighbouring country will terminate analog signal on 31st Dec 2018. Price press down because many want to earn before they willing to cooperate with gpacket and I guess this stock probably can’t go beyond $1.
The price is manipulated. Until the deal is fixed , the share price may go down because everyone want to get a cheap gpacket so can earn a lot when it shoots up. The big players are in control of the price. Retail investors who are not well informed will buy high and sell low. That’s how the big players get richer. The one who holds the longest wins. There is a limit the big players will push down the price to.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tomwah
1,599 posts
Posted by tomwah > 2018-03-16 13:05 | Report Abuse
omg keep dropping from.61 to .425