Latest news with #GreenPacket
The Star
6 days ago
- Business
- The Star
Five-year shield for CRC players
THE government has extended anti-dumping duties on cold rolled coils (CRCs) of iron or non-alloy steel from China and Japan for five more years in a move to protect its domestic steel industry from unfair foreign competition. The extension, from June 23, 2025, to June 22, 2030, is seen as a welcomed move as it will continue to be a buffer for local manufacturers whose margins have been squeezed by a flood of cheaper imports in recent years. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only Trading ideas: Edelteq, WCT, Green Packet, MAG, Capital A, Mudajaya, Mesiniage, MN, Kretam, Kim Hin, TeamStar, ISF
Malaysian Reserve
12-06-2025
- Business
- Malaysian Reserve
Green Packet to reallocate private placement funds after Sri Lanka JV termination
GREEN Packet Bhd is revising its use of private placement proceeds after calling off a planned joint venture in Sri Lanka, citing prolonged regulatory delays and lack of engagement from the local government. The RM10 million project, intended to build a nationwide tourism digital platform with Sri Lanka-based TTISB, was officially scrapped on May 23, 2025. With RM7.15 million unutilised, the company will redirect funds towards expanding its money-lending business, enhancing digital infrastructure, upgrading its smart residential and parking platform, and supporting working capital. Green Packet also plans to invest RM1.2 million into a new loan management system via its lending arm Packet Interactive Sdn Bhd, expected to go live by Q2 2026. So far, Green Packet has raised RM9.46 million from the placement, with a further RM5.32 million to come. It is also seeking shareholder approval to extend the usage timeframe for working capital from 12 to 24 months. –TMR
