By Sharen Kaur
sharen@nstp.com.my
Published in NST on October 17, 2012
P1 is a converged telecommunications, broadband and 4G service provider.
P1 was one of four companies awarded 2.3 GHz spectrum licences by the government to deploy 4G WiMAX services throughout Malaysia in 2007.
As at end March this year, the company had some 400,000 subscribers, giving it 34 per cent of the country's broadband market share.
An influential shareholder of the company speaking strictly on condition of anonymity told Business Times that the company has received a lot of offers to buy the P1 business.
"Selling it would be a strategic move," said the shareholder.
Green Packet last posted a net profit in 2007, when it registered a RM27.16 million gain. For the six months ended June 30 2012, it suffered a net loss of RM168.22 million.
Despite being a loss-making entity, investor appetite for Green Packet shares soared yesterday.
Some 32 million shares exchanged hands, as the shares rose 11.5 sen to close the trading day at 55.5 sen a share.
Interestingly, on Tuesday last week, Green Packet shares slumped to its lowest close of 40.5 sen a share in 52 weeks.
sharen@nstp.com.my
Published in NST on October 17, 2012
KUALA LUMPUR: Green Packet Bhd, the first company to launch commercial WiMAX services in Malaysia, rose to its highest level in five months, on speculation that the company might hive off certain assets of its unit Packet One Networks (P1).
P1 is a converged telecommunications, broadband and 4G service provider.
P1 was one of four companies awarded 2.3 GHz spectrum licences by the government to deploy 4G WiMAX services throughout Malaysia in 2007.
As at end March this year, the company had some 400,000 subscribers, giving it 34 per cent of the country's broadband market share.
An influential shareholder of the company speaking strictly on condition of anonymity told Business Times that the company has received a lot of offers to buy the P1 business.
Green Packet last posted a net profit in 2007, when it registered a RM27.16 million gain. For the six months ended June 30 2012, it suffered a net loss of RM168.22 million.
Despite being a loss-making entity, investor appetite for Green Packet shares soared yesterday.
Some 32 million shares exchanged hands, as the shares rose 11.5 sen to close the trading day at 55.5 sen a share.
Interestingly, on Tuesday last week, Green Packet shares slumped to its lowest close of 40.5 sen a share in 52 weeks.
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