KUALA LUMPUR (June 4): Green Packet Bhd targets to return to profit this year, driven by growth in its core business of solutions and communications.
Last week, the digital telecommunications technology group posted a lower net loss of RM3.13 million for its first quarter ended March 31, 2018, which is 42% lower than the net loss of RM5.38 million it recorded a year ago, despite loss after tax widening to RM7.8 million on higher business development and finance costs.
"After returning to black this year, the group is hopeful to see double-digit growth for its financial results in 2019," its chief executive officer Tan Kay Yen told reporters after attending the group's annual general meeting today.
Tan said the group's double-digit growth expectation for its 2019 financial results apply to both revenue and net profit, and will be driven by new business growth and existing business.
"We expect to see single-digit growth for our existing business, while [our] new business should post double-digit growth," Tan added. Among the new businesses the company is in are fintech and Internet of Things.
As at 3.19pm, Green Packet's share price rose 1.5 sen or 4.92% to 32 sen, giving it a market capitalisation of RM240.32 million.
On behalf of the Board of Directors of GPB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake a renounceable rights issue of up to 150,202,583 Rights Shares on the basis of 1 Rights Share for every 5 existing GPB Shares held, together with up to 450,607,749 Warrants on the basis of 3 Warrants for every 1 Rights Share subscribed for, based on an entitlement date to be determined later ("Entitlement Date") ("Proposed Rights Issue with Warrants").
Details of the Proposed Rights Issue with Warrants are set out in the attachment enclosed.
capital reduction just an accounting entry in their books to clean up all the accumulated losses in their books......in a way is good to cleanse up the books.
not those capital reduction by way of reducing the value of the shares and consolidating it.... so no effects on the share pricing.
GPacket already cleanse up their books now..........a new start.
So now back to biz and new start for the share price.
as for MYTV some already installed for those BR1M recipient and the rest now pending renegotiation with the Govt........sooner or later they need to go on since it is promised by the last Govt to the rakyat. As long benefits the lower income BR1M recipient, the Harapan Govt will honor and just the pricing will be review.
Any company asking for right issues is not Good. Normally right at 35 sen, before ex date it will close slightly higher than 35 sen. After ex date, all the way down below 35 sen.
Green Packet enters partnership for direct carrier billing
Green Packet Bhd’s joint venture company (JV), Funsea Interactive Entertainment (M) Sdn Bhd has entered into a partnership with Apigate to enable Direct Carrier Billing (DCB) for Celcom’s customers.
DCB allows end users to make payments for their purchases by charging payments to their mobile operator’s post-paid and pre-paid bill.
It is traditionally used by mobile content creators and developers to facilitate payment for their in-app purchase and subscription services by end users.
With the partnership, Funsea Interactive will be able to facilitate payment for their OTT content related games, music and video-based apps to more than 9.6 million Celcom subscribers in Malaysia through the DCB payment facility offered by Apigate.
According to a report by Technavio, the global DCB market is expected to register a CAGR of nearly 9% between 2018 and 2022.
Incorporated in 2017, Apigate, a subsidiary of Axiata Digital, has built a network of global and regional partners that allows Funsea Interactive to leverage on the 3.1 billion customer footprint and more than 110 MNOs across Asia, the Middle East, Africa, and Latin America.
“It is a great honour for us to be able to partner with Apigate as this is another significant milestone in the implementation of our strategy for the development of a seamless payment system whereby users can make convenient and safe payments for their favourite games, music and video apps by billing to their post-paid or pre-paid accounts.
“As Funsea Interactive is committed to constantly enhance consumers’ experience, direct carrier billing is a step ahead in providing an avenue for a frictionless platform-customer relationship,” said Green Packet group CEO and Executive Director Tan Kay Yen in a statement.
Company Every quarters lossing money. Who wants to online purchase and charge to phone bills ? Carry a few hundred million accumulated losses to write off soon.
GP chief executive officer Tan Kay Yen said the group is hopeful to see double-digit growth for its financial results in 2019 for both revenue and net profit, and will be driven by new business growth and existing business. Isn’t it what we’re told few months ago? What had happened now?
The group been in the red so far and another quarter of red is expected. What matter most is the RI with free warrant is the deal we are more interested.
I think Another quarter of red will drive the price down further after the realisation of the RI with free warrant. I have no interest on RI if the company is still losing money. Just my opinion..
As with all other counters, whenever there is a Rights Issue the said counter will experience a sudden drop in share price... ! I think GPacket’s price will drop anytime soon to that of .33 to .39 ....
C C Puan and Tan Kar Yen have been making optimistic statement day after day , year after year since 2009 but the company has been losing and losing money; hahaha, what a contradictory...at one point even on the brink on being labelled as PN17 counter...!
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....
Patrick13
1,971 posts
Posted by Patrick13 > 2018-05-27 09:45 | Report Abuse
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http://www.orientaldaily.com.my/s/244271