Thursday 28 Mar 2024
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KUALA LUMPUR (May 24): Green Packet Bhd's trading volume spiked to a record high at over 466 million shares on Tuesday (May 24) from 21.92 million a day earlier to become the most active counter on Bursa Malaysia while the share price of the digital solutions provider closed lower as investors anticipated its first quarter financial report, which was issued after the company's annual general meeting (AGM).

At 5pm on Tuesday, Green Packet’s trading volume had spiked to 466.29 million shares, while its share price closed down at eight sen after falling as much as two sen or 21% to 7.5 sen.

At eight sen, the company's market capitalisation stood at about RM128 million based on its estimated 1.6 billion outstanding shares.

The previous record-high trading volume was registered on Oct 7, 2020, when 248.46 million Green Packet shares changed hands. The counter closed at 50 sen then.

Green Packet reported on Tuesday that its first quarter net loss stood at RM19.98 million compared to a net profit of RM18.81 million a year earlier as revenue fell.

In a statement to Bursa, Green Packet said revenue was lower at RM102.34 million in the first quarter ended March 31, 2022 (1QFY22) from RM142.71 million a year prior.

"[In quarterly terms] total revenue and LAT (loss after tax) of the group for the current 1QFY22 were RM102.34 million and RM19.98 million respectively as compared to the revenue and LAT of the group for the preceding 4QFY21 of RM160.61 million and RM104.02 million respectively.

"The LAT in current quarter was mainly due to fair value loss on other quoted investment," said Green Packet, which had earlier on Tuesday held its AGM here.

In a separate Bursa filing, Green Packet said: "The board of directors of Green Packet wishes to inform that the ordinary resolutions tabled at the AGM were duly passed by the shareholders."

Green Packet's notable recent filings included one on May 5 when the company said 200 million new shares would be listed on Bursa a day later pursuant to its private placement of 716.41 million new shares under a new share placement that would constitute up to 40% of outstanding shares.

"The 200 million Green Packet shares were allotted and issued pursuant to the private placement that was announced on Dec 17, 2021," the company noted.

Following the listing of the 200 million new shares, Green Packet said its latest number of issued shares stood at 1.6 billion.

Edited ByChong Jin Hun
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