Friday 29 Mar 2024
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KUALA LUMPUR (April 14): Internet service provider Green Packet Bhd is unaware of any corporate development, which might have led to the sharp rise in its share trading volume yesterday.

Green Packet said this today in a reply to Bursa Malaysia's unusual market activity (UMA) query. Green Packet shares fell 0.5 sen or 2% to 26.5 sen at 12:30pm for a market capitalisation of RM181.7 million.

The stock saw 6.37 million shares traded.

Yesterday (April 13), Bursa Malaysia issued the UMA query on the "high trading volume" of Green Packet shares, which saw 87.89 million units changing hands. Green Packet shares closed 1.5 sen higher at 27 sen.

A day earlier (Tuesday, April 12), the share trade volume was 663,600.

Yesterday, investors might have taken the cue from news that Green Packet's unit, Packet One Networks (M) Sdn Bhd (P1), was rebranding itself to "Webe".

P1 said the rebranding was in line with its new branding strategy. P1 is jointly owned by Telekom Malaysia Bhd, Green Packet and South Korea-based SK Telecom.

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