Green Packet

Re: Green Packet

Postby winston » Tue Jul 28, 2020 7:46 am

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Green Packet: Divesting Remaining Stake In Mobile Business

New Businesses: E-KYC, Fintech, Proptech, Cloud Computing, Digital Bank License


Source: Deal Street Asia

https://www.dealstreetasia.com/stories/ ... le-199019/
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Re: Green Packet

Postby winston » Thu Aug 13, 2020 7:54 am

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Green Packet Bhd has proposed a private placement to raise between RM62.51 million and RM98.94 million to fund its cloud business.

Green Packet said the indicative issue price for the shares is 52 sen apiece, representing a discount of 9.12% to its five-day volume weighted average price of 57 sen.

It said it will use RM2.54 million as working capital for the cloud business.

A balance of anywhere between RM59.78 million and RM96.21 million will be used to acquire IT infrastructure like servers and network equipment in the next two years.

Source: The Edge
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Re: Green Packet

Postby winston » Thu Aug 13, 2020 2:28 pm

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Green Packet to raise up to RM99m via private placement to fund cloud business

by Adam Aziz

KUALA LUMPUR (Aug 12): Green Packet Bhd plans to raise between RM62.51 million and RM98.94 million through a private placement to fund its cloud business.

In a statement today, Green Packet said under the minimum scenario it would be issuing 120.21 million new shares, representing just under 11% of its current share capital.

This is after taking into account the 100.13 million shares issued under the earlier placement in July, representing 9.09% of its current share capital of 1.1 billion shares.

The maximum scenario, meanwhile, takes into account the July placement and also assumes that Green Packet’s 350.32 million outstanding warrants expiring 2023 are fully converted. Under this scenario, Green Packet’s latest placement will total 190.27 million shares.

Green Packet said the indicative issue price for the shares is 52 sen apiece, representing a discount of 9.12% to its five-day volume weighted average price of 57 sen.

“At this price, the proposed private placement is expected to raise gross proceeds of RM62.51 million under the minimum scenario and up to RM98.94 million under the maximum scenario.

Green Packet said it will use RM2.54 million as working capital for the cloud business.

A balance of anywhere between RM59.78 million and RM96.21 million will be used to acquire IT infrastructure like servers and network equipment in the next two years.

The indicative issue price is on par with the issue price by Green Packet in its July placement, which raised RM52.07 million for its digital services segment.

“The cloud computing business segment is expected to be introduced in 2021,” said Green Packet, which expects a payback period and to generate sufficient cash flows for operations after the first five years.

As at March 31 — prior to the July placement — Green Packet had cash of RM50.8 million.

Shares of Green Packet, which also owns e-wallet unit kiplePay, slipped half a sen or 0.85% to close at 58 sen, today, valuing the group at RM638.01 million.

Source: The Edge

https://www.theedgemarkets.com/article/ ... d-business
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Re: Green Packet

Postby winston » Tue Aug 18, 2020 8:34 pm

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Green Packet to invest initial RM100m under Tencent Cloud partnership to set up data centre in Malaysia

by Ahmad Naqib Idris

KUALA LUMPUR (Aug 18): Green Packet Bhd will be investing an initial RM100 million under its collaboration with Tencent Cloud to set up a joint Internet data centre in Malaysia.

Green Packet group managing director CC Puan said the initial investment will comprise the setting up of infrastructure, including a total of 600 servers, as well as the provision of software solutions.

The exclusive collaboration between the two parties will be for a period of eight years, plus an additional two years, starting today.

We strongly believe that over the next four to five years, we will be investing in more than 3,000 to 4,000 servers,

Puan added that total investment in this collaboration could add up to RM300 million to RM500 million over the next three years.

It will take about six months before the cloud computing infrastructure is fully commissioned, he said, expecting the operations to go live in the first quarter of 2021 (1Q21).


Source: The Edge

https://www.theedgemarkets.com/article/ ... e-malaysia
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Re: Green Packet

Postby winston » Sun Aug 23, 2020 8:56 pm

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Tencent’s entry lights up cloud computing segment

By TOH KAR INN

Green Packet Bhd’s signing this week with global Internet giant Tencent Cloud to be the latter’s partner for cloud computing in Malaysia is likely to have fired up the race of a business that has made billions in revenue for global players like Amazon, Microsoft and Google.

It has a cloud market share of 6% in Asia Pacific, while Alibaba Cloud has a market share of 16%. Both firms trail behind global giants Amazon Web Services, Microsoft, Google although the market in Asia remains largely untapped.

“At present, the adoption of cloud services in Malaysia is at its infancy stage, valued at an estimated US$2bil in revenue.

“Over the next five years, the cloud market in Malaysia is expected to grow at a compounded annual growth rate (CAGR) of 13% to 15%, ” he says.

But outside Singapore, the market penetration is still very small.

In Malaysia, Alibaba Cloud was the first cloud services provider to set up a data centre here in 2017.

It was previously reported that Alibaba Cloud’s data centre in Malaysia will be another link to the chain that is weaved between the group’s operations in Hong Kong and Singapore, which will produce cross-border services for Malaysian enterprises.

It is understood that AWS is present in Malaysia via private networks, where AWS’ cloud software is utilised but hosted on its clients’ premises or third-party servers.

In the case of Green Packet and Tencent Cloud, the partnership will have their own cloud servers that are expected to go live in the first quarter of 2021, and this should give them economies of scale.

The largest data centre owner in Malaysia is Telekom Malaysia via TM One, which has 12 data centres with a total data centre space of more than 180,000 sq ft, followed by players like Bridge Data Centres, NTT Malaysia, Strateq, AIMS (Time dotcom) and Keppel Corp.

TM One has a potential capacity of up to 40MW for two of its largest data centres, while Bridge Data Centres (backed by Bain Capital) has a total data centre space of 358,000 sq ft with a capacity of up to 20MW.

Source: The Star

https://www.thestar.com.my/business/bus ... ng-segment
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Re: Green Packet

Postby winston » Wed Aug 26, 2020 8:55 pm

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Green Packet net loss narrows on investment fair value gain

by Wong Ee Lin

KUALA LUMPUR (Aug 26): International technology, media, and telecommunications player Green Packet Bhd saw its net loss narrow to RM11.98 million in the second quarter ended June 30, 2020 (2QFY20), from RM34.07 million in the previous quarter.

This was despite the group's continuous heavy investment in the business development in Digital Services and the group’s engineering center of excellence in Chengdu, China.

Green Packet attributed the smaller net loss to fair value gain from a quoted investment of RM9 million, versus a fair value loss of RM17.25 million in 1QFY20, according to a filing with Bursa Malaysia today.

Quarterly revenue was also 1.41% lower quarter-on-quarter at RM144.99 million from RM147.05 million in 1QFY20.

On a year-to-year basis, its net loss rose from RM9.31 million, while revenue was 16.62% higher from RM124.33 million.

The higher revenue growth was driven by higher contributions from all segments.

The software and devices segment had the highest growth rate with an increase of 171% to RM15 million due to higher shipments to the ASEAN region, Europe, Middle East and Latin America.

The Digital Services segment’s revenue grew 68% to RM2.5 million thanks to its Perak Prihatin project, Kedah Ibu Darul Aman project, online ecommerce transactions and new SME merchants, while the Communication Services segment saw 9% more in revenue to RM127.5 million due to higher sales from the telecommunication carriers in the ASEAN region, Hong Kong and China.

For the cumulative six months ended June 30, 2020, Green Packet reported a wider net loss at RM46.06 million from RM23.2 million last year, despite the 31.39% increase in revenue to RM292.04 million from RM222.26 million.

Additionally, Green Packet has also launched KipleX, a co-creation innovation lab and early stage venture capital with fund allocation of RM50 million for early start-ups, which CC Puan says it will create close ecosystems of technology providers, customers and partners to support new innovation.

Another notable win for the group in 2QFY20 was the divestment of WeBe which subsequently cleared RM272 million debts that will allow the group to fund new growth initiatives which includes building a cloud computing business with Tencent Cloud, said Green Packet.

Source: The Edge

https://www.theedgemarkets.com/article/ ... value-gain
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Re: Green Packet

Postby winston » Tue Sep 15, 2020 5:13 am

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Green Packet teams up with Hannover Re for commercial fleet usage-based insurance telematics programme

by Arjuna Chandran Shankar

KUALA LUMPUR (Sept 14): Green Packet Bhd has teamed up with German reinsurer Hannover RE for a commercial fleet usage-based insurance telematics programme in Malaysia.

In a statement, Green Packet said it had inked an agreement with Hannover Re SE Malaysia branch, which is the world’s third largest reinsurer’s regional underwriting centre for the telematics programme.

Under the agreement, Green Packet will provide Hannover Re with commercial fleet telemetry technology that collects data and delivers driver behaviour-based scores for analysis. The data and scores would then be used as a basis for participant improvement and enable credits towards insurance premiums based on Hannover Re’s underwriting model.

The data collected will be sent to Hannover Re to assess the risk profile of commercial drivers in order to reward safer drivers. The collaboration aims to provide data-driven insights that will improve underwriting and consumer convenience.

As such, Hannover Re and Green Packet will work on a platform which will use information from telematics data to recommend customised insurance programmes for commercial fleets — strengthening Green Packet’s Smart Mobility initiative for road user safety.

Green Packet explained that telematics data is gathered from plug-in devices within commercial vehicles to record driving behaviour information, with the Connected Advanced Driver Assistance System (ADAS) aiming to reduce road accidents by monitoring vehicles and their surroundings.

Critical data such as speed, braking behaviour, distance travelled and information on the surrounding areas is used to automatically alert drivers when dangerous conditions are detected.

The programme is expected to be launched by the second quarter of next year.

“Businesses prefer customised and personalised solutions. We believe that they will welcome the solution as it will not only help them lower insurance costs but will give them end-to-end visibility of their drivers’ driving behaviours, thus improving driving behaviour of their fleet drivers,” said Green Packet managing director CC Puan.

Meanwhile, Hannover Re SE Malaysia branch CEO Daniel Gunawan said: “With technology advancements in mobile sensing, Internet of Things (IoT) and Artificial Intelligence (AI), it is now possible to develop new risk mitigation methods which will benefit the wider community in addition to providing a more impartial pricing metric for drivers.”

Source: The Edge

https://www.theedgemarkets.com/article/ ... -programme
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Re: Green Packet

Postby winston » Tue Sep 22, 2020 7:03 am

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Green Packet Bhd and MMAG Holdings Bhd inked a master agreement whereby Green Packet's Kiplepay e-wallet will be used as the basis for e-wallet and digital payment solution for foreign workers employed by MMAG.

The master agreement will initially last two years and be renewed for successive periods of one year each.

Source: The Edge
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Re: Green Packet

Postby winston » Wed Oct 07, 2020 10:20 am

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Signs of green shoots

GP inked a 10-year agreement with Tencent to exclusively offer its cloud services in Malaysia. GP forecasts 30-40% EBITDA contribution in FY22.

kiplePay has established itself as the leading e-wallet in the public higher education sector; working on further opportunities with Bank Islam & PTPTN.

Loss-making VivoHub closed; GP expects RM20m p.a. savings from full EMTN settlement (Sep 2020).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... A2927C823F
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Re: Green Packet

Postby winston » Wed Oct 07, 2020 8:35 pm

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Green Packet sees buying interest after Tencent cloud services deal

by Tan Siew Mung

KUALA LUMPUR (Oct 7): Green Packet Bhd has emerged as the most actively traded stock on Wednesday after the management said it is optimistic on earnings turnaround after sealing a 10-year agreement with Tencent Cloud to exclusively offer its cloud services in Malaysia.

The technology and telecommunications firm, which saw 188.85 million shares change hands in the morning trade, fell 2 sen or 2.88% to 51 sen. The counter rose as much as 5 sen or 9.62% to an intra-morning high of 57 sen.

CGS-CIMB said in a note Wednesday that the firm is capitalising on Malaysia’s cloud market, which is set to deliver 13% revenue compound annual growth rate in 2020 to 2024, after signing a 10-year exclusive agreement with Tencent Cloud (TC) in August to set up servers in Malaysia and offer TC’s services (part of its international node coverage).

According to the note, Green Packet will initially invest about RM100 million for 600 servers that will go live by the first quarter of 2021 and believes this will grow to 3,000 to 4,000 servers over the next four to five years with total investment of RM300 million to 500 million.

Green Packet projected the business to contribute 30% to 40% of earnings before interest, taxes, depreciation and amortization in financial year 2022 (FY22), with a net present value of US$82 million (RM339 million) over 10 years.

The note also highlighted that Green Packet is optimistic of its earnings turnaround by FY21.

Green Packet posted core net losses of RM65 million and RM37 million in FY19 and 1H20 respectively due to continued investments to expand its digital service business.

According to the note, the group’s business expansion was funded by its private placements and warrants.

While Green Packet’s Tranche 1 private placement raised RM52 million in July 2020, the note said the firm plans to raise another RM63 million to RM99 million via a Tranche 2 private placement of 120 million to 190 million shares at an indicative issue price of 52 sen per share — similar to Tranche 1 — to fund working capital and cloud infrastructure investment.

Its outstanding warrants may further raise RM180 million upon conversion into ordinary shares, it added.

Meanwhile, although the group’s digital services posted net losses of RM29 million and RM13 million in FY19 and 1H20 respectively on business development costs, its kiplePay, which is pursuing fintech opportunities in the education sector, saw its gross transaction value grow 113% year-on-year.

The group has also completed its plans to end the loss-making VivoHub and exchangeable medium term notes (EMTNs).

Source: The Edge

https://www.theedgemarkets.com/node/535143
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