0020 GMT [Dow Jones] Telecommunications and broadband services provider Green Packet (0082.KU) may rise to test 200-day moving average of 75 sen vs yesterday's close at 70 sen (down 2.0%) on New Straits Times report company in talks to buy a stake in a foreign Wimax licensee by the end of this year. "We definitely want to secure one more Wimax license by the end of this year," Green Packet's CEO Puan Chan Cheong was quoted as saying; adds, funding won't be an issue as company raised some MYR100 million in recent cash call exercise. "Given the strong potential in the wireless business, Green Packet's move to expand overseas should bode well for the bottomline in the long-term," says dealer with local brokerage.
Dow Jones Newswires
September 08, 2009 20:20 ET (00:20 GMT)
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