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This article first appeared in The Edge Financial Daily on July 4, 2019

Green Packet Bhd (-ve)

TRADING of shares in Green Packet Bhd (fundamental: 0.35/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this month. The stock closed up half a sen or 1.32% at 38.5 sen, after 20.88 million shares were done, versus its 200-day average trading volume of 2.38 million shares. The group is a 4G network operator and services provider.

On Monday, Green Packet said its founder Puan Chan Cheong had been redesignated as group managing director and chief executive officer (CEO) from non-executive director in a management reshuffle aimed at growing the telecommunications company’s digital ventures. Tan Kay Yen was also redesignated from CEO as executive director. Puan, widely known as CC Puan, founded Green Packet in 2000. According to the company, he led it to become an international player providing connectivity devices and solutions to telecommunications companies globally.

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