Green Packet Berhad. Future Blue Chip ?

Yesterday I went to KLCC (Kuala Lumpur Convention Center) for year end PC Fair. My main point there is to have a look on how P1 W1max doing. P1 W1MAX was a subsidiary of Green Packet Berhad. I was amazed with their promotion and their ability to promote their products. I still can remember when Green Packet Berhad first listed and went up as high as RM 7.50 (after bonus issue).

During that time most of the people were talking about this share, the future of this share and where is this company is heading to. During their 3 days promotion in the PC Fair, they had a tremendous sign up among all the visitors who had visited them.

This is going to be one of the sleeping giant that is going to wake up. If I not wrong, P1 W1MAX one day will take over Streamyx market as well. It just like how DIGI slowly take over the MAXIS customer.... from zero to hero.

I have sign up to subscribe with the P1 W1MAX (2 years) although my house has already been install with Streamyx. During the sign up, I have been entitled to participate in a money chamber competition, to grab as many money as you can. Manage to collect and grab RM 243.00 in total. Not bad ...... RM 100 (1 piece), RM 10 (2 pieces), RM 5 (9 pieces) and RM 1 (78 pieces). Everything happen in just 30 seconds only. There is a reason why I want to subscribe with P1 W1Max - read further..

Green Packet one of the most darling share when the share went up to a level that most of us couldn't believe it and now today the share prices merely trade at RM 0.70 per share.

What has really happen to this share ? Since the company has been awarded to operates WiMAX in Malaysia, thing don't look really good at all after that.

In March last year Green Packet Bhd, YTL e-Solutions Bhd, Asiaspace Sdn Bhd and REDtone International Bhd have been awarded the 2.3GHz broadband wireless access spectrum (WiMAX, which stands for World Interoperability for Microwave Access, is a wireless digital communications system that is intended for wireless broadband access.). The first three are licensed to offer WiMAX service in Peninsular Malaysia, while REDtone’s area of operation is Sabah and Sarawak.

Until now it seems that only Green Packet really make the move. With its P1 W1MAX branding and sales efforts, Green Packet has by far the most visible service roll-out among the four. It is a company with a serious game plan. It began preparing for a big push into the wireless broadband business well in advance. This included raising funds when the stock was doing well and hiring former TM Net Sdn Bhd CEO Michael Lai to head the WiMAX business.

It got Intel Corp to come on board as an investor and is looking at other foreign partners. It has also recently proposed another private placement.

Yet, even with such planning and drive, Green Packet is finding it tough going because of the slow take-up rate and delays in putting up base stations. The company has revised its year-end subscriber target from 40,000 to 10,000.

No matter how tough it will be for Green Packet Berhad, time will tell that the P1 W1MAX system been offer by Green Packet is great. The system is fast and friendly user. Not only that, I can bring it all over to any places that got wireless broadband access coverage (P1 W1MAX) and it is not necessary to plug it at home only. You might bring it to the hotel, restaurant, work place or any other places that been cover by the wireless broadband access (P1 W1MAX). How nice.... The only bad thing is we need to find a plug point in order to run the modem ...

Watch it closely.... one day I won't be surprised if P1 W1MAX - Green Packet can become one of the darling share once again. It might be the next mirror of DIGI. Who knows ?