KUALA LUMPUR (Jan 18): After opening at a price of 59 sen today, Green Packet Bhd’s shares were down about 6.03% earlier this morning, from yesterday’s closing price of 58 sen, on possible profit-taking activity in line with overall weaker sentiment at the broader market.

At 11.32am, the FBM KLCI fell 4.14 points to 1,824.49. Green Packet fell 2.5 sen or 4.31% to 55.5 sen, with 25.79 million shares traded. This brings its market capitalisation to RM435.59 million.

SJ Securities Sdn Bhd senior remisier Goh Kay Chong pointed out that it is possibly due to profit-taking.

He explained over the phone that the Green Packet shares have been on a selldown since Jan 3, after the gradual climb. 

It is interesting to note that the stock has been steadily climbing since July 14, 2015 from 19 sen. Over the past year, the counter rose about 114.81% from 27 sen.

The Edge Financial Daily today reported Green Packet is expected to announceit has bagged a deal worth RM300 million from television broadcasting company MYTV Broadcasting Sdn Bhd as early as today, people familiar with the matter, who believe the contract will help Green Packet become profitable again, said.

According to sources, the contract will entail Green Packet supplying set-top boxes to MYTV — the company selected back in 2014 to spearhead the national digital terrestrial television (DTT) roll-out.

It is understood the contract was awarded directly to Green Packet, which has been contracted to develop the decoders and supply 4.2 million units to MYTV.

“It (Green Packet) is expected to make a public announcement soon, either tomorrow (today) or [on] Friday (tomorrow), on the matter,” another source said.

For the cumulative nine months ended Sept 30, 2017, Green Packet posted a net loss of RM18.38 million, compared to a net profit of RM66.44 million a year ago, on lower software and devices sales, while revenue came in flat at RM259.18 million from RM256.6 million.