Almost a year ago, Green Packet announced the following quarterly earnings report.
Quarterly rpt on consolidated results for the financial period ended 31/12/2007
Today's Green Packet. Quarterly rpt on consolidated results for the financial period ended 31/12/2008
Nice?
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3 comments:
The title of your post is deceptive... the point of interest is not in the earnings for Green Packet.
It's those freakishly scary borrowing numbers. SCARY!!!
LOL!
Sorry I forgot all about Green Packet's earnings!!!!
!!!!
So how did it do?
oO
And they will borrow even more with projected spend a whopping RM1B instead of RM400m less than 1 year ago...check this out:
The Star Online > Business
Wednesday August 20, 2008
Green Packet to spend RM1b on WiMAX
It expects positive earnings on the service in two years
Kuala Lumpur: Green Packet Bhd will spend up to RM1bil for the development of WiMAX infrastructure over the next four to five years.
Group managing director and chief executive officer Puan Chan Cheong said the group had spent RM300mil for the deployment of WiMAX technology.
“We understand that this is a huge investment but it is a long-term investment to ensure sustainable growth for the company,” he said after the launch of P1 WiMAX service yesterday by Energy, Water and Communications Minister Datuk Shahziman Abu Mansor.
The company, through subsidiary Packet One Networks (M) Sdn Bhd (P1), is the first to commercially deploy WiMAX technology in the country as well as in the Asia-Pacific region.
From left: Green Packet Bhd group MD Puan Chan Cheong, Minister of Energy, Water and Communications Datuk Shaziman Abu Mansor and P1 CEO Michael Lai launching the P1 Wimax in Kuala Lumpur on Tuesday.
The first phase of the WiMAX service would cover 25% of the population, the second a further 15% and the third phase, another 25% of the population.
Puan said the group needed to continue to spend on infrastructure as it was committed to covering 65% of the population.
To a question, he said the group did not expect to break even immediately and how fast it would recoup its investment would also depend on the average revenue per user.
“We expect P1 to reach positive earnings before interest, tax, depreciation and amortisation (Ebitda) by 2010,” he added. Puan declined to comment when asked on its second quarter results which was expected to be announced tomorrow.
“We are sacrificing short-term losses for long-term profitability,” he said when asked if its second quarter results would reflect its performance in the first quarter when it incurred its maiden quarterly loss.
P1 chief executive officer Michael Lai said the group was targeting 100,000 subscribers in the first year of operation.
“We have about 100 trial users at present and 6,000 have expressed interest to subscribe to our packages,” he said.
On the area of coverage outside the Klang Valley, Lai said it would depend on how fast the group could build its network, but he expressed confidence that its services would be available in Johor Baru by year-end.
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