DJ MARKET TALK: Green Packet +2.1% On On Report Seeks Wimax Stake
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0510 GMT [Dow Jones] Telecommunications and broadband services provider Green Packet (0082.KU) +2.1% at 71.5 sen on New Straits Times report company in talks to buy a stake in a foreign Wimax licensee by the end of this year. "The stock is up despite the weaker market with high volume...it may rise to test 200-day moving average of 75 sen in near-term given the strong potential in the wireless business," says dealer with local brokerage; notes company reported 1H loss of MYR50.1 million vs loss MYR7.6 million a year earlier because of start-up costs relating to Wimax services launch. Most analysts are projecting Green Packet to turn around next year. (ECH)
Dow Jones Newswires
September 09, 2009 01:10 ET (05:10 GMT)
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