<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily</em>, on December 8, 2015.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><strong>Green Packet Bhd (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>GREEN Packet (Fundamental: 0.35/3, Valuation: 0/3), a wireless networking and telecommunication solutions provider, was actively traded yesterday with 47.5 million shares exchanging hands. The stock closed unchanged at 29 sen.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This came after the second largest shareholder OSK Ventures International disposed its entire 15.9% stake in the company at 30 sen per share via an off-market trade last Friday. The disposal is expected to result in a loss of RM1.1 million for the venture capital firm.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>For the quarter ended September 2015, it reported a net loss of RM28.5 million, mainly due to RM26.6 million share of loss from its associate Packet One Networks (Malaysia) Sdn Bhd (P1).</p></div>

<div class=newsTextDataWrapInner><p>To recap, last year, Green Packet divested its controlling stake in P1 to Telekom Malaysia for RM350 million. With the dilution of the wireless broadband business, it will focus on other business segments such as LTE-ready solutions and communication services.</p></div>

<div class=newsTextDataWrapInner><p><img alt="greenpacket_swm_fd_081215" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/greenpacket_swm_fd_081215.png" /></p></div>


This article first appeared in The Edge Financial Daily, on December 8, 2015.

 

Green Packet Bhd (-ve)

GREEN Packet (Fundamental: 0.35/3, Valuation: 0/3), a wireless networking and telecommunication solutions provider, was actively trad...

Stock With Momentum: Green Packet

South Korea’s corruption watchdog filed for an extension of a warrant to arrest President Yoon Suk Yeol after their first attempt last week ended in failure following an hours-long stand-off with his security team.

South Korean investigators seek extension of warrant for Yoon

The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, three sources with knowledge of the matter said.

US plans more sanctions on tankers carrying Russian oil — Reuters

GoTo Group said Patrick Walujo will run the company for about five more years, giving the chief executive officer more time to turn around Indonesia’s unprofitable ride-hailing and food-delivery champion.

GoTo gives CEO five years more to get car-hailing firm to profit

Saudi Arabia, one of the largest bond issuers in emerging markets last year, signalled that it is set to maintain a similar pace of borrowing in 2025 to help fund huge oil-diversification projects.

Saudi Arabia planning further borrowing spree to pay for huge projects — Bloomberg

GE Vernova Inc, one of the world’s biggest gas turbine makers, says Taiwan is its fastest-growing Asian market, as the island’s plan to phase out nuclear energy forces it to rely more on the fossil fuel to power its world-leading chip-making industry.

Taiwan’s nuclear exit paves way for more gas, says GE Vernova

XOX Networks Bhd (KL:XOXNET), an event management and distribution company, has proposed a share capital reduction to wipe out up to RM55 million of its accumulated losses.

XOX Networks proposes share capital reduction to eliminate losses

Leading Software-as-a-Service (SaaS) provider Rexit Bhd (KL:REXIT) assured stakeholders on Monday that there have been no data leaks, and the company’s data security remains “fully intact” following the completion of an independent cybersecurity audit.

Rexit says no data breaches found in cybersecurity audit 

Despite being 1Malaysia Development Bhd's (1MDB) then chairman of the board of advisors (BOA), its sole shareholder and the then prime minister, Datuk Seri Najib Razak said that he never hired or fired anyone at the company.

1MDB-Tanore: Najib says merely 'formalised' board appointments, management had autonomy

A little-known Japanese maker of oven ranges and water heaters has offered to acquire Fujitsu General Ltd for as much as ¥257 billion (US$1.6 billion or RM7.3 billion), becoming the latest suitor for Fujitsu Ltd’s air-conditioner unit.

Little-known Japanese oven maker to buy out Fujitsu's air-conditioner unit for US$1.6b

CBH Engineering Holdings Bhd (KL:CBHB) saw its initial public offering (IPO) of 94.05 million shares — available to the public at 28 sen apiece — oversubscribed by 34.21 times.

CBH Engineering’s IPO shares for public oversubscribed by 34 times

<p>A three-member Court of Appeal bench on Monday ruled to allow former prime minister Datuk Seri Najib Razak’s appeal, to have the merits of his challenge over the existence of an addendum, purportedly issued by the 16th Yang di-Pertuan Agong for him to serve the remainder of his jail sentence under house arrest, to be heard at the High Court.</p>


Najib's addendum appeal allowed via majority decision, case reverted to High Court

<p>Cafe chain operator Oriental Kopi Holdings Bhd set its initial public offering (IPO) price at 44 sen apiece in a share sale that would raise RM183.96 million ahead of its listing on the ACE Market.</p>


ACE Market-bound Oriental Kopi to raise RM184 mil, sets IPO price at 44 sen

<p>Pahang exco member Datuk Nizar Najib has produced a letter from the Royal Pahang Household, purportedly verifying the existence of the Jan 29, 2024, addendum that allows former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence under house arrest.</p>


Nizar Najib produces letter purportedly from Pahang comptroller, allegedly verifying addendum

<p>A crowd rallied outside the Palace of Justice on Monday to support former prime minister Datuk Seri Najib Razak in his renewed bid to serve out his prison term under house arrest.</p>


Supporters turn up to Najib solidarity rally

<p>KUALA LUMPUR (Jan 6): Shares of glove manufacturers rallied on Monday in active trade amid reports of new virus infections in China, though authorities have downplayed the infections as&nbsp;seasonal winter peak.</p>


Glove stocks rally amid reports of new virus infections in China, MIDF shrugs off potential demand spike

<p>KUALA LUMPUR (Jan 6): Shares of NationGate Holdings Bhd (KL:NATGATE) hit a fresh high on Monday, after gaining 23 sen or 9.1% at RM2.75, becoming the fifth biggest gainer on Bursa Malaysia.</p>


NationGate hits new record high on first mover advantage, deliveries of AI GPU servers

<p>KUALA LUMPUR (Jan 6): Binastra Corporation Bhd (KL:BNASTRA) may be the preferred contractor for property projects worth RM10 billion in gross development value over the next three years, Mercury Securities said.</p>


Binastra may be preferred contractor for property projects worth RM10b, Mercury starts coverage on 'buy'

<p>Senior federal counsel Shamsul Bolhassan, representing the government and other respondents in Datuk Seri Najib Razak’s appeal over a purported addendum, told the Court of Appeal on Monday that the addendum was never discussed or brought up during the Federal Territory Pardons Board’s 61st meeting on Jan 29 last year.</p>


AGC claims no due diligence on Najib’s part to produce additional evidence on purported addendum, maintains February release as main order

<p>Oriental Kopi Holdings Bhd, a cafe chain operator en route to the ACE Market, said it would cap menu price increases at 5%-10% to manage the impact from rising costs.</p>


Oriental Kopi to raise menu prices amid rising raw material costs

<p>PUTRAJAYA (Jan 6): Former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Dr Mohd Irwan Serigar Abdullah, who is former treasury secretary general, will bring in two former 1MDB board members as third parties in a US$6.59 billion suit filed by the strategic development company against him and former 1MDB president Arul Kanda Kandasamy. This follows the Federal Court’s ruling to dismiss their application for leave to reverse an earlier Court of Appeal’s (COA) decision that had allowed Irwan to bring in the two former board members as third parties.</p>


Two ex-directors to be included as third parties in US$6.59b 1MDB suit after apex court denies them leave to appeal

<p>Demand for Malaysia’s palm oil could rise if Indonesia goes through with its plan to raise export levy to support the higher biodiesel mandate, TA Securities said on Monday.</p>

<p>Raising the export levy to 10% would add US$26.49 per tonne, making Indonesian crude palm oil (CPO) even more expensive than Malaysia’s product, the research house said. The price of Indonesia’s palm oil is already at a premium of US$146.30 per tonne above that of Malaysia, it noted.</p>


Demand for Malaysian palm oil could rise if Indonesia raises exports levy — TA Securities

<p>Umno president Datuk Seri Dr Ahmad&nbsp;Zahid&nbsp;Hamidi has appealed to the Yang di-Pertuan Agong to grant a full pardon to the jailed former prime minister Datuk Seri Najib Razak.</p>


Zahid pleads with King for full pardon of Najib following court's decision allowing addendum appeal

<p>(Jan 6): The Australian dollar slid the most in six years in 2024 but its decline looks far from over — there’s every prospect it will fall below 60 US cents (RM2.70)&nbsp;in coming months.</p>


Bears see Aussie dollar drop to 60 cents as Trump readies China tariffs

<p>PIE Industrial Bhd (KL:PIE) is seen as a major beneficiary of global supply chain shifts and technological trends, according to Maybank Investment Bank.</p>

<p>The house noted that as an EMS provider, PIE is poised to benefit from new sources of earnings growth.</p>


Maybank initiates a 'buy' on PIE on trade diversion, data centre boom

<p>CBH Engineering Holdings Bhd (KL:CBHB) saw its initial public offering (IPO) of 94.05 million shares — available to the public at 28 sen apiece — oversubscribed by 34.21 times.</p>


<p>Justin Trudeau is expected to announce his resignation as leader of Canada’s Liberal Party this week, the<em> Globe and Mail </em>reported, a move that would trigger a race to replace him as prime minister.</p>


Canada’s Trudeau is likely to resign this week — report

<p>KUALA LUMPUR (Jan 6): U Mobile has signed an agreement with the Federal Land Development Authority (Felda), in which&nbsp;the telco will play a critical role in supporting the group in its digital transformation drive.&nbsp;</p>


U Mobile, Felda ink agreement to support digital transformation

<p>theedgemalaysia.com highlighted 14 stocks with momentum at Bursa Malaysia’s afternoon close on Monday. 13 stocks showed negative momentum, while only one stock showed positive momentum.</p>


Stocks with momentum on Jan 6, 2025: Kumpulan Fima, Eurospan, Velocity Capital, Inta Bina, Radiant Globaltech, Ramssol, Evergreen Max Cash, Minox, Carlsberg, Lien Hoe, Southern Steel, Aeon Co, Xin Synergy and Wong Engineering

<p>(Jan 6): The task of providing elderly care for the growing number of Chinese baby boomers may be a headache for Beijing, but a Singaporean hospital operator sees it as an evergreen opportunity.</p>


Singapore hospital operator Perennial targets wealthy boomers in China

<p>Local institutions supported Bursa Malaysia for the 11th consecutive week, with net purchases of RM304.0 million in domestic equities, according to MIDF Amanah Investment Bank Bhd. &nbsp;</p>
