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[February 25, 2013]
Green Packet to boost P1 services [New Straits Time (Malaysia)]
(New Straits Time (Malaysia) Via Acquire Media NewsEdge) PETALING JAYA: Green Packet Bhd will spend up to RM250 million over the next two years to help upgrade its Packet One 4G product, P1 WiMAX.
The capital expenditure (capex) is also in preparation for the nationwide rollout of the LTE (long-term evolution) programme by the second half of this year.
Green Packet is the owner and operator of the 4G services provider Packet One Networks (M) Sdn Bhd (P1).
The company also almost halved its pre-tax loss in fourth quarter ended December 2012 to RM30 million from RM59.6 million in the same quarter a year ago.
It has been making consecutive losses in the past four quarters, mainly dragged by depreciation of assets such as telecommunications towers and ageing computers.
Green Packet chief executive officer and managing director Puan Chan Cheong said the capex is in line with its consistent capex of the same amount for the past four years or RM1 billion.
"Out of the RM250 million, RM50 million will be for providing or upgrading the infrastrucuture of the LTE platform," Puan said at its financial briefing here yesterday.
He expects 2013 to be a challenging year due to intense competition from other telecommunications providers.
"The company aims to achieve double-digit growth in revenue due to our improved efficiency," said Puan.
He said P1 has reached a record high in total subscribers surpassing 517,000.
Green Packet, which owns 1,900 base stations, made revenue of RM588.6 million in 2012 from RM538.5 million.
It is the world's third largest exporter of information technology devices after Motorolla and Samsung.
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