Green Packet unit gets conditional nod for money lending licence


KUALA LUMPUR: Green Packet Bhd, through unit Packet Interactive Sdn Bhd (PISB), has received a conditional letter of approval from the Wellbeing, Housing and Local Government Ministry for a money lending licence.

The communication services and products provider told Bursa Malaysia that the approval was subject to the PISB directors and business premises complying to and satisfying the prescribed requirements stated in the letter.

The conditional approval would not have any material effect on the earnings per share and net asset per share of the company and its subsidiaries for the financial year ending 31 December 2017. It will also not have any effects of the issued shares, gearing and substantial shareholders’ shareholdings of the Company.

Green Packet, which is expanding its e-services platform offering with the use of financial technology, made its maiden foray into the mobile payment solutions segment in January when Packet Interactive  completed the acquisition of 80% equity interest in Webonline Dot Com Sdn Bhd, a Bank Negara Malaysia e-wallet license holder.

Subsequently, Green Packet piloted its very own Kiple application that functions as an e-wallet for offline payments powered by Webonline.

 

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

China's services activity picks up as conditions improve, Caixin PMI shows
Ringgit opens higher as US$ weakens post-NFP data
Bursa Malaysia drifts sideways as investors await start of US election
Trading ideas: SD Guthrie, Dayang, Datasonic, Elridge, Genetec, MN, Bina Puri, Bintai Kinden, MCE, BHIC, Carimin, Tuju Setia, Khee San
Wall St slips as uncertainty surrounds U.S. election
Oil jumps nearly 3% after Opec+ delays output hike, US election in focus
Datasonic acquires 51% stake in ICT firm
High real estate credit growth raises concern
Elridge Energy inks 15-year biomass fuel deal
Bumi Armada’s North Sea contract win to lift earnings

Others Also Read