Kuala Lumpur, Thursday, 11th Febuary 2010: Bursa Malaysia Main Board listed Green Packet Berhad, (“Green Packet”/“the Group”), today announced its FY 2009 financial results, which it says is a reflection of its proven business strategy in growing the WiMAX opportunities in Malaysia and abroad.
Green Packet ended the year with a number of major wins including the signing of deals for its carrier solutions and WiMAX devices with operators worldwide, a solid increase in subscribers for its P1 W 1MAX business and planned expansion into new markets, namely East Malaysia and Singapore for its WiMAX operations.
The Group’s year-to-year revenue, as at 31 December, had increased nearly threefold from RM87 million in 2008 to RM235 million (unaudited) in 2009 . The Group recorded a net loss of RM176 million for the year mainly due to its investment in P1’s subscriber acquisition activities and strengthening their P1 network infrastructure in order to ensure an improved customer experience. There was also a substantial provision for impairment of certain past investments in Q4 2009 which amounted to RM26 million.
CC Puan, Group Managing Director and CEO of Green Packet said, “Our Products & Solutions business pillar has shown strong profitable growth in 2009 and has won contracts for its carrier solutions and WiMAX devices worldwide. I am proud to say that we are currently the world’s No.3 WiMAX modem vendor with 15% global market share, and the top Connectivity Management Solution provider in Asia Pacific. We have an excellent pipeline of product trials underway in 40 countries of which we expect a robust conversion to move up the (global position) ranks.”
Puan continued to comment that during the last quarter, Green Packet had a shift of strategy for its WiMAX operating business, P1, to focus on investing in the expansion of its network’s infrastructure to optimize customer satisfaction. “It is paramount for any service provider business to invest in customer retention as we regard our customers a key asset of our business,” he said. In spite of this, P1 managed a 17% quarter-on-quarter net subscriber addition increase in Q4 2009 to close the year with a solid base of 140,000 subscribers.
Through an investment in both the depth and breadth of its network infrastructure, Green Packet aims to improve the connection quality and the mobility proposition of the P1 W 1MAX network. This is the foundation for a significant ramping up of its customer acquisition programmes.
Puan commented, “The Green Packet and the P1 business model is now well proven as illustrated in our growing customer base in Malaysia and abroad. We know how to build infrastructure, attract customers and generate solid ARPU. Moving to EBITDA-positive for P1 is now all about scaling this proven model. Our international solutions business is of course already profitable and benefitting from our business-scaling strategy.”
The management is confident of returning the Group to EBITDA-positive during second-half 2010 through converting additional customers of its international devices and connection management solutions , and more than doubling P1 W1MAX’ current network infrastructure and subscriber base in 2010.
About Green Packet Berhad
Listed on the Main Board of the Malaysian Bourse, Green Packet Berhad (“The Group”) aims to be the visionary global leader providing best connectivity to enrich lives. Bringing forth best-of-class technologies, devices and services to simplify and enhance connectivity and communications, The Group fulfils a wide array of targeted needs by employing its two key business pillars of Solutions and Converged Communications Services; the latter via 4G WiMAX operator and service provider arm, Packet One Networks (Malaysia) Sdn Bhd; 4G WiMAX global services, Packet One International Pte Ltd, and provider of discounted, MVNO and wholesale voice services via its Alternative Voice Services subsidiary companies. For more information, visit: www.greenpacket.com
For any media enquiries, please contact:
Share
|
