On Dec 1, Green Packet Bhd sold its final block of 189.11 million shares or an 8.74% stake in loss-making G3 Global Bhd on the open market, for RM11.35 million.
Green Packet first emerged as a substantial shareholder of G3 in August 2016 but had been trimming its shareholding in the latter after a divestment plan was announced in July this year to dispose of up to 612.57 million shares, or a 24.81% stake, to Green Packet’s managing director and CEO Puan Chan Cheong at an indicative disposal sum of between RM61.26 million and RM91.89 million in cash, or 10 to 15 sen per share. However, the disposal to Puan did not materialise.
In the July announcement, Green Packet had warned that G3’s share price may further trend downward due to market uncertainty and volatility. G3’s share price has tumbled 27% since early December to close at 9.5 sen last Wednesday.
On Dec 8, G3 proposed a diversification into the healthcare-related business, which includes the distribution of Covid-19 test kits. It is also looking to raise RM43.29 million from a proposed private placement of up to 432.85 million new shares to independent third-party investors.
Exactly same story just like Puc & Jadi. Big shark will start goreng this counter once the pp done. Digital banking license likely be one of the theme play for 1st Quarter of 2022.
Pertama today almost hits its half year high of 63.5 sen. And the rest of the digital banking contenders such as Puc, Mpay, Bstead also show an uptrend movement recently. ;)
goldenshares, it is still surviving until today. Its getting more attractive in fact. I do think that the NTA will be reduced further. It should be worth 12 to 15 cents for now. Waiting for 0.06 opportunity to buy again.
Omg, this stock used to be RM1 and now is less than 10cent, i feel the owner should delist and do something at privatisation level. In fact the highest they went was till RM5 and that's history.
I hate this kind of businessman mindset where they get listed and play around like small kid. They are not affirm enough from the beginning of IPO listing.
This kind of company not worth being in the bursa.
forget about fundamentals for green packet. however, it was a good speculative stock in 2020. now that it has changed its management to one that is even more speculative based on the track record :) there is definitely risk based on the happenings recently. traders should manage the risk accordingly :) cheers
tp1.00? lets not trap more people. traders in this speculative stock must remember to set stop loss and do not fall in love with this speculative stock. set your target exit price, stop loss and execute it well. do not be greedy :)
KUALA LUMPUR (Feb 10): Green Packet Bhd’s newly emerged largest shareholder Leong Seng Wui has joined the company’s board as an executive director effective Thursday (Feb 10), according to its filing with Bursa Malaysia.
Leong’s appointment came after the group’s co-founder, Puan Chan Cheong sold his stake in Green Packet and resigned from the board on Jan 31.
Puan returned to helm Green Packet more than two years back in July 2019. He was made the group managing director.
Meanwhile, according to the filing, 42-year-old Leong is the former Executive Director of XOX Networks Bhd (formerly known as Macpie Bhd).
Leong emerged as the largest shareholder of the group after Puan sold his entire 8.91% stake in Green Packet to Leong via a Direct Business Transaction deal worth RM6.22 million, its Bursa Malaysia filing showed on Jan 31.
Based on the back of envelope calculation, Puan sold his entire stake to Leong at 0.05 sen per share — much lower than its current market value.
Notably, Green Packet shares have been on a downward trend for the past 12 months — reaching a high of 44 sen in February last year and a low of seven sen in December 2021.
Green Packet ended unchanged at 8.5 sen on Thursday, giving it a market capitalization of RM119 million. It saw a total of 2.25 million shares changing hands.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
taihai
477 posts
Posted by taihai > 2021-12-24 21:24 | Report Abuse
all penny stock will become rubbish . 2022 100 to 1 or 200 to 1? business 0 n capital up more than 10 time ? how ?? SCC approve