Green Packet provides capital for WiMAX consultancy globally

KUALA LUMPUR: Green Packet Bhd has subscribed for an additional 699,991 shares in its 90%-owned subsidiary Packet One International Pte Ltd (P1i) for S$699,991 (RM1.68 million) cash.

Green Packet said yesterday P1i had also issued 200,000 shares and 99,999 shares fully paid to Telnet Technologies Sdn Bhd and Tang Pen San, respectively.

It said after the proposed subscription and additional issuance, its stake in P1i would be reduced to 70%, while the remaining 30% would be held by Telnet and Tang.

Tang, a Malaysian (Singapore permanent resident) with over 20 years of experience in the technology business, is P1i’s managing director.

Telnet was incorporated in Brunei with its principal activity in electrical, mechanical and telecommunication contracting. Its directors and substantial shareholders are Darren Ong Chee Seng and Ahmad Isa. Prior to completion, P1i’s paid-up capital was S$10 comprising 10 shares fully paid.

P1i is an investment holding company for Green Packet group’s Global WiMAX (Worldwide Interoperability for Microwave Access) Services, a specialised WiMAX consulting service on end-to-end business, operational strategy development, network infrastructure, roadmap planning and marketing.

WiMAX is a telecommunications technology that provides wireless transmission of data using a variety of transmission modes.

Green Packet said the proposed subscription was to provide working capital to P1i to undertake its Global WiMAX Services and was in line with the group’s objective of expanding its WiMAX consultancy and project management business overseas so as to enhance future earnings.

-By The Edge Financial Daily (http://www.theedgemalaysia.com)
Link: http://www.theedgemalaysia.com/business-news/15537-green-packet-provides-capital-for-wimax-consultancy-globally.html

DiGi inks MVNO agreement with Baraka Telecom

Malaysian cellco DiGi Telecommunications has inked a mobile virtual network operator (MVNO) agreement with Baraka Telecom, the Business Times reports. Under the deal DiGi will allow Baraka to provide voice and data services over its GSM network nationwide, and it is understood that the contract also includes an option allowing Baraka to expand the scope of agreement in the future; it is expected that the inclusion of 3G services could be allowed.

The initial deal will last for three years from Baraka’s commercial launch, and could be renewed for a further two years subject to the two companies agreeing on certain terms and conditions.

Baraka is a private limited company incorporated in Malaysia on 3 April 2008 with an authorised and paid-up share capital of MY10 million; it is majority owned by foreign individuals from the Middle East.

-By Telegeography CommsUpdate (http://www.telegeography.com)

Maxis to be injected into Astro

Maxis to be injected into Astro? Speculation has been rife that Maxis Communications Bhd would be relisted either on the local bourse or overseas.

The injection of Maxis Communications Bhd into Astro All Asia Networks plc could create a merged entity that will pit it against Singapore StarHub and SingTel, which have both embraced the quadruple play strategy of cellular, broadband, fixed line and pay-tv businesses, OSK Research said.

For the full story, read The Edge Financial Daily tomorrow.

-By Adoi Breaking News (http://www.adoimagazine.com)