P1 has over 401k Subscribers, Coverage Stands at 53%

Last month at the Green Packet Berhad first quarter financial results for 2012 media briefing, the group revealed that its 57%-owned Packet One Networks(P1) rolled out some 102 WiMAX sites in the quarter. The company plans to add some additional 200 sites by the end of this year.

As of 31st March 2012, P1 has successfully increased its subscriber base to 401,000 with its network now covering 53% of Malaysia’s population with 1,629 WiMAX sites. It also said that commercial roll out of the P1 4G service in Kota Kinabalu will take place sometime after July this year.

Moving forward, P1 said that it will focus on the business segment and voice. So far it has already secured some 30,000 voice subscribers. As for Green Packet, the group said that it will unveil its dual-mode 4G WiMAX/LTE desktop modem at CommunicAsia(19-22 June) in Singapore this month.

Green Packet’s revenue as of quarter one this year increased by 5% Year-on-Year to RM128 million. The Greenpacket Solutions pillar contributed RM22 million and the P1 pillar posted RM85 million. The company also reported a Group EBITDA of RM3.9 million, a 153% jump of Year-on-Year. It said that P1 contributed approximately 85% (RM3.3 million) to the Group’s total EBITDA.

“The Group’s latest results and in particularly the positive financial performance of its P1 pillar, is an important milestone for us. While in the competitive environment of the telecommunication industry, it usually takes 5 years for a company to achieve such positive results, it only took us less than 4 years. This shows that we are on the right track,” said Mr. Puan Chan Cheong, Group Chief Executive Officer and Group Managing Director of Green Packet.