So, no latest BIG news yet..
But, one particular company, namely GreenPacket is gonna kick everyone’s
ass so big this time. It is not like I’ve just known them, but i’ve known them
for quite some time already..

In the recent news (well not so recent).

The Star reported that YTL-e and GreenPacket emerge as frontrunners.

The Minister of Energy, Water and Communication Datuk Seri Lim Keng Yaik
was suppose to announce the winners by the end of last month, February
but there was no news about it. Guess there is a delay again…

YTL and Greenpacket are two big giants who are bidding for WiMax through
their stake in other companies..

YTL-e announced in late December it would subscribe to new shares in Bizsurf (M) Sdn Bhd, giving it a 50% stake in the company.

Bizsurf is one of 17 licensed service providers that have applied for and are being considered for the 2.3GHz spectrum for WiMAX deployment.

YTL-e would pay RM1.3mil cash for the 50% interest in Bizsurf. This is a small sum for YTL-e, which reported in its last financial results that it held RM167.8mil cash.

Green Packet’s bid for WiMAX is through MIB Comm Sdn Bhd, which is 55% owned by Packet One International Sdn Bhd, a subsidiary of Green Packet.

Packet One bought the MIB Comm stake in December for RM6mil cash, on condition that an additional RM3mil would be paid to the vendors if the company secured the 2.3GHz spectrum.

My bet for the biggest winner would be GreenPacket.. Why?
Seriously, I’ve seen their product, touch and felt their product.
It has all the thing you wanted for a wireless broadband.

Some features of GreenPacket which would make you get yourself one:
Mobility, Affordability, Wide Coverage and Lightweight.

The company strength is also good enough to be strong in the market

Green Packet is currently installing its SONmetro infrastructure in the Klang Valley that can deploy broadband services using fourth-generation (4G) technology and long-range WiFi coverage. The group’s infrastructure would be enhanced if it secures a WiMAX licence.

The company is also cash-rich, reporting it had RM125mil in cash at end-September last year. That would have been boosted by a private placement in November of new Green Packet shares issued at RM4.50 each, which raised RM182mil cash.

It would thus have over RM300mil in cash.

GreenPacket is slated to come in soon in mid-April.
So watch this blog for updates on GreenPacket…