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INTEL'S INVESTMENT INTO GREEN PACKET REINFORCES GROUP'S WIMAX BUSINESS |
2008-5-21
Green Packet Media Center |
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Higher investment closer to WiMAX service launch impacts PAT for 1Q08
KUALA LUMPUR, 21 May 2008 -
Green Packet Berhad (Green Packet) today reported revenue of RM22.34 million for Quarter I, 2008. The Group's profit after tax (PAT) declined to a loss after tax and minority interests (LATMI) of RM2.73 million.
The LATMI resulted mainly from the substantial and expected higher operating cost incurred for the group's converged telecommunications business unit with intensive level of activities as its subsidiary company and WiMAX operator arm Packet One Networks (Malaysia) Sdn Bhd (P1) builds up its network.
Group Managing Director and CEO of Green Packet Berhad said, “Our substantially higher investment in the broadband business this quarter is expected to ensure the successful commercial roll-out of our WiMAX services very soon.“
The Group reported in December last year that it will continue to invest through to 2009 to solidify its converged telecommunications business pillar. Capital investment is expected to be the highest during this current phase with the setting up of network infrastructures and intense customer acquisition activities.
The LATMI is also partly attributable to higher share of associated companies' losses, and lower revenue from the solution division as sales to China has yet to recover due to the pending award of 3G license.
Earlier this week, Intel announced that it has invested RM50 million into Green Packet and will work together with P1 to deploy Malaysia's first nation-wide 802.16e WiMAX network.
According to Mr Puan, Intel's investment into Green Packet and more importantly, their strategic collaboration on wider business engagements will further reinforce the Group's business proposition; strengthening by many folds its WiMAX business pillar and significantly contributing to the success of P1's WiMAX commercial roll-out.
Mr Puan added, “We are set to capitalize on our first-mover advantage to execute an extremely rapid and effective roll-out of WiMAX throughout Malaysia,
We are confident that P1 and our WiMAX business will contribute significantly to the Group's future earnings starting from the latter part of the 2009 financial year.”
About Green Packet Berhad (Green Packet)
Green Packet is a leading developer of Next Generation Mobile Broadband Networking Solutions. The company's mission is to provide a seamless and unified platform for the delivery of user centric multimedia communications and services regardless of the nature and availability of backbone infrastructures.
As a mobile broadband networking solutions developer, Green Packet brings forth best-of-class technologies, devices and services to simplify and enhance connectivity and communications.
To fulfill a wide array of targeted needs of its varied market and user segments, Green Packet employs two key business pillars:
Pillar 1: Products & Solutions
Targeted to mobile enterprises, mobile workgroups, telecommunications and Internet Service Provider, Green Packet is a one-stop shop providing end-to-end products and solutions to fulfill all Information Technology and Communications needs. Tailored to the requirements of each market segment, its offerings include the Self Organising Network (SON) products and solutions, online camera surveillance systems, project management engineering services and consultant services.
Pillar 2: Converged Telecommunications Service Provider
Aimed at enterprises, small and medium enterprises (SMEs), residential and end-consumers, Green Packet through its subsidiary and WiMAX arm, Packet One Networks (Malaysia) Sdn Bhd (P1) delivers advanced wireless connectivity serving up an impressive range of converged broadband services in the form of connectivity, communications, contents and services.
For more information, please log on to: www.greenpacket.com | www.p1.com.my
Media Contact:
Shirley Ah Yong
Corporate Communications Manager
Green Packet Berhad
Tel: +603 8996 6022 (ext: 323)
Mobile: +6012 2332 405
Email: shirley.ahyong@greenpacket.com
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Copyright © 2001-2008 Green Packet All Rights Reserved. |
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