http://opinions.sinchew-i.com/node/24111?tid=17
小學六年級的作文課，出了一道題目：“我的志願”。
小華提起筆，洋洋灑灑寫了兩張稿紙，第一句話就是：“我的志願是當馬來西亞的首相。”
3天後，小華接到批改後的作文，分數全班最低，只有30分；老師還寫下評語：“志願不實際，你是華人，怎麼可能當首相？扣分！”
小華年紀雖小，卻有醒覺意識；他找老師理論去。
老師回答：“伊斯蘭黨長老聶阿茲都說了嘛，要當首相可以，但必須是穆斯林。你又不是穆斯林，怎能當首相？”
小華反駁：“我老爸說，憲法沒有規定穆斯林才能當首相，只要是大馬公民，就符合基本資格。”
老師無話可說，把他帶到訓導室，請訓導主任處理。
訓導主任拿出《馬來西亞前鋒報》星期刊的專訪，說道：“你看，退休大法官說，首相是由下議院議員選出，而議員多數是馬來人穆斯林，所以非馬來人要做首相是不可能的事。”
小華不服氣：“即使是馬來穆斯林議員，也未必看膚色和宗教來選首相。只要一個人的能力強，人品好，即使不是馬來穆斯林，也可能會被推選為首相。”
訓導主任啞口無言，說道：“你那麼愛說，就去和副校長說吧。”
副校長見了小華，嚴肅說道：“小華，我知道你的志願很偉大，但這是不可能達到的，為了避免你希望愈大，失望更大，我鄭重告訴你，不能以首相為志願。”
小華回應：“副校長，你又憑甚麼這麼說？”
副校長拿出前日報章，說道：“Nah nah，東姑阿茲說，根據馬來西亞的傳統和國情，非馬來人和非穆斯林是不適宜出任首相的。”
小華還是不屈服，回答：“傳統和國情也不是不能改變的，以前的美國人說，有色人種不適合擔任美國總統；但是，奧巴馬不也做了總統？”
副校長說不出話，把小華帶到校長室。
校長見到小華，臉露笑容，和藹可親的說：“小華，你想做首相是嗎？”
小華：“是的，你說甚麼都沒有用，我打定主意，就是要做首相。”
校長：“沒問題，你當然可以。
只是，馬華總會長蔡細歷說，要先potong，你要嗎？”
小華雙手遮住下檔，驚道：“我不要做首相了！”
Tuesday, 29 May 2012
Sunday, 27 May 2012
單身儲蓄不要少於1/3收入 - 康健雜誌
http://www.commonhealth.com.tw/article/article.action?id=5016423&page=1
單身儲蓄不要少於1/3收入
2006-09 康健雜誌 作者：蕭碧華
生活中，總有許多令人意想不到的事情，當遇到的事情是突如其來的意外時，你會怎麼處理？其實有許多事情是可以未雨綢繆的，當意外來臨時，生活才會有保障。
一個人最好書展，精選書單全面７９折！
單身貴族的儲蓄不要少於收入的三分之一
時下很多單身貴族都喜歡吃美食、上高級餐廳，穿的衣服及用的東西也很講究品味，與小家庭比起來，單身貴族因為較無家累，反而容易陷入無節制的開銷情境中。
這樣的情形不只發生在收入較好的單身貴族中，剛出社會的年輕人因為開始有能力賺錢，可以自由支付收入，也很容易成為「月光族」，月底前就已花光光。甚至以為只要年齡愈長，薪水就會跟著升高，於是無限制地買名牌、分期付款、預借現金……。
有位讀者來信提到，他在發生車禍、工作被迫停止，又必須付醫療費時，才警覺年輕≠無敵鐵金剛，幸好之前曾經存了一點錢，度過了這次的難關，但是錢也用得差不多了，他說，這種身價歸零的感覺實在不太好。
或許年輕人覺得「及時享受才是王道」，我還是建議用「螞蟻族」的心態，來面對工作及金錢，而不要像「蟋蟀族」，天天花在當下。
如果沒有其他的負擔，單身貴族反而是最有辦法儲蓄的人，也不必省到太省，每個月薪水發下來的時候，先將三分之一撥到另一個絕對不動用的帳戶中，以月薪2萬4千元的人來看，即使無利息，每月存8000元，30年將近300萬，也是一筆可觀的數字。
假如你是吃家裏、住家裏的單身貴族，每月若能存到薪水的一半，以月存1萬2千元來說，30年就有近450萬，想像不到吧！
許多單身女性在年過35歲之後，感覺自己應該不會結婚，也燃起「為自己存錢」的動力，當存了一筆錢之後，就會開始萌生「到底要不要買房子」的念頭，我的建議是，先想一想退休後，要住在哪裏？
我認識一位過去留學美國的女性，她原本想買房子，但又有很強烈的慾望想到美國退休，我就建議她不必買房子，反倒是多存錢；另外，也有人很嚮往鄉下生活，那麼也可以不考慮買屋。
但如果你認為自己是個都會人，不活在大都市會很難過，又有固定的收入，那麼就可以開始尋找適合的房子，如此一來將會比較有「定下來」的感覺。
隨時會失業的危機意識，不可沒有
一對名校畢業的中年夫妻，育有兩個讀高中的小孩，任職於外商高階主管的先生，和任職於大企業的秘書太太，兩人月薪加起來超過15萬，可說是個令人羨慕的家庭，沒想到屋漏偏逢連夜雨，先是太太的部門結束，使得太太沒頭路；緊接著先生又被公司解雇……
由於這對夫妻從入社會開始，薪水就比一般人高，長期養成了高消費的習慣，即使育有兩個小孩，因為置產，每月薪水花到剩不到1萬，保險也未買周全，致使夫妻倆失業才不到三個月，日子就快要撐不下去。
以上這種故事是有可能發生的，原因是我們大多數人要享受類似美國人的生活型態、有車、有屋，加上養兩個小孩，如果生活不節制，在大台北很容易超過10萬元，扣掉所得稅、房屋土地稅、汽車燃料牌照稅、車位油錢、保險、補習、旅遊等費用，每月要存1萬元可能很困難，很多人在初聽到這個故事時，第一個反應就是驚訝，想不到「夫妻兩個人都是高收入、高學歷，也會失業？」接著則是疑惑「他們倆賺那麼多錢，為什麼每個月存不到一萬？」
答案是──他們沒有「隨時會失業」的危機意識。
單身貴族一人飽、全家飽，更容易在快樂的享受生活中失去隨時會失業的危機意識，由於我在35歲、先生驟逝那年，曾經嘗過失去經濟支助的無力感；在替人規劃財務時，也看到許多高收入、低存款的例子，我想，一個人除非親身經歷過沒錢，否則真的很難了解那種被錢逼到窮途末路的痛苦，我相信大家都不希望自己沒錢，但也沒有人可以保證現在的工作、收入可以持續到退休，所以「隨時會失業的危機意識」還是不能沒有，即使你很會賺錢，也不要太奢華，先把安全感存下來吧！
你會將錢用在誰身上？
一位近40歲的林小姐來信詢問：「我每個月賺6萬元，工作了15年，卻存不到50萬，而且我不太買東西，也沒貸款，頂多就是與朋友吃吃飯而已，怎麼會存那麼少錢呢？」
按照她的說法，工作15年只存到50萬，真的是太少了，難道是她記帳記得不夠清楚，漏掉一些沒注意到的大筆開銷嗎？
「沒有，我的消費很單純，平常也不化妝，也不買很貴的保養品，真的就是和朋友吃飯而已。」她在信上如此回答。
林小姐在兩次來信中，均提到自己不浪費，頂多就是和朋友吃飯而已，於是，我針對吃飯這件事提醒她，並請她再多回想，有沒有借錢給別人之類的事情。
不久後，林小姐回信了，她說，自己的確會借錢給朋友，但是到底借出多少，自己也忘了，「因為都是好朋友嘛，所以當初借錢出去的時候，就有對方可能還不了的心理準備」。
此外，針對吃飯這件事，林小姐提到，她與朋友一同吃飯時，幾乎都是她出錢，「有時候5個人就吃掉5000元」。
這就對了，雖然林小姐不買名牌，但她請朋友吃飯所花掉的錢，數字都不小，一個月只要吃10次飯，大概就花掉一半的薪水，加上她又很好心地將錢借給別人，難怪自己也存不到錢了。
我們一般人或許不會像林小姐一樣，對朋友好到如此的境界，不過林小姐的故事，倒可以給我們一個省思：「我們會將錢會用在誰的身上？」
一位朋友除了將錢用在自己身上外，還會奉養父母；一位朋友固定將收入的10％捐給慈善機構；另一位朋友則是用在孩子身上超過自己花費；還有一位朋友將錢借給先生的姊姊，導致自己的銀行存款少了一大半；還有人必須與先生共同負擔公婆住在養護中心的費用……
有人認為花錢是一種藝術，不過林小姐的故事卻說明了「將錢用在誰的身上」更是我們不能忽略的事情，尤其是結婚之後，與我們有關係的人更多時，很可能會面臨一些婚前不會遇到的狀況，像是被妯娌借人頭買房子、替公婆付貸款之類的事情，這些狀況或許不會發生在每個人身上，但總是預想一下比較好。
不管你的錢會花在誰身上，就算是花給自己，請遵守一條鐵律──用錢時，千萬不要超過自己可以負擔的範圍！
作者為聯傑財務顧問公司執行長
單身儲蓄不要少於1/3收入
2006-09 康健雜誌 作者：蕭碧華
生活中，總有許多令人意想不到的事情，當遇到的事情是突如其來的意外時，你會怎麼處理？其實有許多事情是可以未雨綢繆的，當意外來臨時，生活才會有保障。
一個人最好書展，精選書單全面７９折！
單身貴族的儲蓄不要少於收入的三分之一
時下很多單身貴族都喜歡吃美食、上高級餐廳，穿的衣服及用的東西也很講究品味，與小家庭比起來，單身貴族因為較無家累，反而容易陷入無節制的開銷情境中。
這樣的情形不只發生在收入較好的單身貴族中，剛出社會的年輕人因為開始有能力賺錢，可以自由支付收入，也很容易成為「月光族」，月底前就已花光光。甚至以為只要年齡愈長，薪水就會跟著升高，於是無限制地買名牌、分期付款、預借現金……。
有位讀者來信提到，他在發生車禍、工作被迫停止，又必須付醫療費時，才警覺年輕≠無敵鐵金剛，幸好之前曾經存了一點錢，度過了這次的難關，但是錢也用得差不多了，他說，這種身價歸零的感覺實在不太好。
或許年輕人覺得「及時享受才是王道」，我還是建議用「螞蟻族」的心態，來面對工作及金錢，而不要像「蟋蟀族」，天天花在當下。
如果沒有其他的負擔，單身貴族反而是最有辦法儲蓄的人，也不必省到太省，每個月薪水發下來的時候，先將三分之一撥到另一個絕對不動用的帳戶中，以月薪2萬4千元的人來看，即使無利息，每月存8000元，30年將近300萬，也是一筆可觀的數字。
假如你是吃家裏、住家裏的單身貴族，每月若能存到薪水的一半，以月存1萬2千元來說，30年就有近450萬，想像不到吧！
許多單身女性在年過35歲之後，感覺自己應該不會結婚，也燃起「為自己存錢」的動力，當存了一筆錢之後，就會開始萌生「到底要不要買房子」的念頭，我的建議是，先想一想退休後，要住在哪裏？
我認識一位過去留學美國的女性，她原本想買房子，但又有很強烈的慾望想到美國退休，我就建議她不必買房子，反倒是多存錢；另外，也有人很嚮往鄉下生活，那麼也可以不考慮買屋。
但如果你認為自己是個都會人，不活在大都市會很難過，又有固定的收入，那麼就可以開始尋找適合的房子，如此一來將會比較有「定下來」的感覺。
隨時會失業的危機意識，不可沒有
一對名校畢業的中年夫妻，育有兩個讀高中的小孩，任職於外商高階主管的先生，和任職於大企業的秘書太太，兩人月薪加起來超過15萬，可說是個令人羨慕的家庭，沒想到屋漏偏逢連夜雨，先是太太的部門結束，使得太太沒頭路；緊接著先生又被公司解雇……
由於這對夫妻從入社會開始，薪水就比一般人高，長期養成了高消費的習慣，即使育有兩個小孩，因為置產，每月薪水花到剩不到1萬，保險也未買周全，致使夫妻倆失業才不到三個月，日子就快要撐不下去。
以上這種故事是有可能發生的，原因是我們大多數人要享受類似美國人的生活型態、有車、有屋，加上養兩個小孩，如果生活不節制，在大台北很容易超過10萬元，扣掉所得稅、房屋土地稅、汽車燃料牌照稅、車位油錢、保險、補習、旅遊等費用，每月要存1萬元可能很困難，很多人在初聽到這個故事時，第一個反應就是驚訝，想不到「夫妻兩個人都是高收入、高學歷，也會失業？」接著則是疑惑「他們倆賺那麼多錢，為什麼每個月存不到一萬？」
答案是──他們沒有「隨時會失業」的危機意識。
單身貴族一人飽、全家飽，更容易在快樂的享受生活中失去隨時會失業的危機意識，由於我在35歲、先生驟逝那年，曾經嘗過失去經濟支助的無力感；在替人規劃財務時，也看到許多高收入、低存款的例子，我想，一個人除非親身經歷過沒錢，否則真的很難了解那種被錢逼到窮途末路的痛苦，我相信大家都不希望自己沒錢，但也沒有人可以保證現在的工作、收入可以持續到退休，所以「隨時會失業的危機意識」還是不能沒有，即使你很會賺錢，也不要太奢華，先把安全感存下來吧！
你會將錢用在誰身上？
一位近40歲的林小姐來信詢問：「我每個月賺6萬元，工作了15年，卻存不到50萬，而且我不太買東西，也沒貸款，頂多就是與朋友吃吃飯而已，怎麼會存那麼少錢呢？」
按照她的說法，工作15年只存到50萬，真的是太少了，難道是她記帳記得不夠清楚，漏掉一些沒注意到的大筆開銷嗎？
「沒有，我的消費很單純，平常也不化妝，也不買很貴的保養品，真的就是和朋友吃飯而已。」她在信上如此回答。
林小姐在兩次來信中，均提到自己不浪費，頂多就是和朋友吃飯而已，於是，我針對吃飯這件事提醒她，並請她再多回想，有沒有借錢給別人之類的事情。
不久後，林小姐回信了，她說，自己的確會借錢給朋友，但是到底借出多少，自己也忘了，「因為都是好朋友嘛，所以當初借錢出去的時候，就有對方可能還不了的心理準備」。
此外，針對吃飯這件事，林小姐提到，她與朋友一同吃飯時，幾乎都是她出錢，「有時候5個人就吃掉5000元」。
這就對了，雖然林小姐不買名牌，但她請朋友吃飯所花掉的錢，數字都不小，一個月只要吃10次飯，大概就花掉一半的薪水，加上她又很好心地將錢借給別人，難怪自己也存不到錢了。
我們一般人或許不會像林小姐一樣，對朋友好到如此的境界，不過林小姐的故事，倒可以給我們一個省思：「我們會將錢會用在誰的身上？」
一位朋友除了將錢用在自己身上外，還會奉養父母；一位朋友固定將收入的10％捐給慈善機構；另一位朋友則是用在孩子身上超過自己花費；還有一位朋友將錢借給先生的姊姊，導致自己的銀行存款少了一大半；還有人必須與先生共同負擔公婆住在養護中心的費用……
有人認為花錢是一種藝術，不過林小姐的故事卻說明了「將錢用在誰的身上」更是我們不能忽略的事情，尤其是結婚之後，與我們有關係的人更多時，很可能會面臨一些婚前不會遇到的狀況，像是被妯娌借人頭買房子、替公婆付貸款之類的事情，這些狀況或許不會發生在每個人身上，但總是預想一下比較好。
不管你的錢會花在誰身上，就算是花給自己，請遵守一條鐵律──用錢時，千萬不要超過自己可以負擔的範圍！
作者為聯傑財務顧問公司執行長
Wednesday, 23 May 2012
GPACKET e-UPDATES
http://www.greenpacket.com/gpinternal_enews/invester_news81/more_01.htm
GREEN PACKET RECORDS POSITIVE EBITDA
OF RM3.9 MILLION IN Q1
P1 surges ahead with first full quarter positive EBITDA of RM3.3 million
Key Highlights:
• Group EBITDA grew to RM3.9 million with P1 Pillar EBITDA contributing RM3.3 million.
• Group EBITDA margin rose 153% Y-o-Y
• P1’s broadband market share increased steadily from 6.9% (end 2010) to 8% (end 2011).
KUALA LUMPUR, 23 May 2012: Green Packet Berhad (the Group) today reported its first quarter financial results for 2012 with an improved Group EBITDA of RM3.9 million, a 153% jump of Year-on-Year. Most importantly, its P1 pillar contributed approximately 85% (RM3.3 million) to the Group’s total EBITDA. The Group’s positive earnings for this quarter are backed by continuous revenue growth through an increased subscriber base, coverage area expansion and stringent cost management.
The Group’s revenue as of 31 March this year increased by 5% Year-on-Year to RM128 million. The Greenpacket Solutions pillar contributed RM22 million and the P1 pillar posted a new high of RM85 million.
“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.
In Q1, Greenpacket Solutions pillar closed approximately RM22 million in deals consisting of 90,952 CPEs and 62,437 software license sales. One of the significant contracts won in Q1 for its device business is IBW Group, a Pan-Central American WiMAX operator with operations in Guatemala, Nicaragua, El Salvador and Costa Rica. The contract is for a number of its best award-winning 4G/WiMAX CPEs. This makes IBW Group the 5th global multi-network operator to deploy Green Packet devices. The company is also said to be actively contributing towards TD-LTE initiatives
As for its carrier software business, Q1 saw Greenpacket Solutions pillar successfully developing solutions for PCCW’s 8,000 hotspots in Hong Kong to integrate thousands of Wi-Fi hotspot with China Unicom’s operations in Shanghai, allowing operators to automatically and seamlessly switch subscribers between mobile and Wi-Fi networks. Moreover, Greenpacket Solutions has taken the lead in developing 15 trials with a mix of mobile data offloading and Wi-Fi experience management trials around the world, which include China Mobile and Telefonica, Spain’s largest telecommunication operator.
Puan added, “The Greenpacket Solutions pillar has been instrumental in establishing our global footprint for the past 12 years, its exponential growth and the positive response it received from the Global market have been our key motivator and have enabled us to accurately address evolving market needs. We are excited as we are now making the transition to the next phase of innovation, tackling TD-LTE, wireless data offloading and W-Fi experience management as our next expected market growth areas.”
With its many international business endeavors, the Greenpacket Solutions pillar continues to be the leading provider of connection management solutions in Asia and the world’s third largest supplier of 4G/WiMAX devices.
Meanwhile, the Group’s P1 pillar, saw its first quarter revenue increased to RM 85 million, a 52% increase Year-on-Year. Additionally, P1 has successfully increased its subscriber base to 401,000 with its network now covering 53% of Malaysia’s population.
Puan explained, “We will continue to develop innovative products and value-for-money services to cater to the different customer markets. Such initiatives can be seen in P1’s fiber offering – “Fiber by P1”, which is a strong product proposition for the heavy user and SME market. This is a testament of our commitment to continuously evolve to meet our customers’ needs.”
P1 aims to position itself as a major SME technology enabler for value-added multi-services solutions in response to the growing momentum among Malaysian SMEs leading to increasing demand for information and communications technology service development, to make them more competitive in a global environment
Puan also added, “All in all, it has been a good quarter for us against the backdrop of an overall lackluster period for the industry. These results clearly demonstrate that the P1 pillar has proven its ability to deploy higher speed and quality broadband in Malaysia with low cost of operations, while the Greenpacket Solutions pillar’s continuous growth will help to propel the Group forward in its vision of becoming a leader in delivering best connectivity to enrich lives.”
“However having said that, it is also the faith and trust of our customers in us that has brought the Group to where we are today and we will continue to invest to expand the business further and to ensure that our customers will continue to enjoy our best product offerings and services.”
GREEN PACKET RECORDS POSITIVE EBITDA
OF RM3.9 MILLION IN Q1
P1 surges ahead with first full quarter positive EBITDA of RM3.3 million
Key Highlights:
• Group EBITDA grew to RM3.9 million with P1 Pillar EBITDA contributing RM3.3 million.
• Group EBITDA margin rose 153% Y-o-Y
• P1’s broadband market share increased steadily from 6.9% (end 2010) to 8% (end 2011).
KUALA LUMPUR, 23 May 2012: Green Packet Berhad (the Group) today reported its first quarter financial results for 2012 with an improved Group EBITDA of RM3.9 million, a 153% jump of Year-on-Year. Most importantly, its P1 pillar contributed approximately 85% (RM3.3 million) to the Group’s total EBITDA. The Group’s positive earnings for this quarter are backed by continuous revenue growth through an increased subscriber base, coverage area expansion and stringent cost management.
The Group’s revenue as of 31 March this year increased by 5% Year-on-Year to RM128 million. The Greenpacket Solutions pillar contributed RM22 million and the P1 pillar posted a new high of RM85 million.
“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.
In Q1, Greenpacket Solutions pillar closed approximately RM22 million in deals consisting of 90,952 CPEs and 62,437 software license sales. One of the significant contracts won in Q1 for its device business is IBW Group, a Pan-Central American WiMAX operator with operations in Guatemala, Nicaragua, El Salvador and Costa Rica. The contract is for a number of its best award-winning 4G/WiMAX CPEs. This makes IBW Group the 5th global multi-network operator to deploy Green Packet devices. The company is also said to be actively contributing towards TD-LTE initiatives
As for its carrier software business, Q1 saw Greenpacket Solutions pillar successfully developing solutions for PCCW’s 8,000 hotspots in Hong Kong to integrate thousands of Wi-Fi hotspot with China Unicom’s operations in Shanghai, allowing operators to automatically and seamlessly switch subscribers between mobile and Wi-Fi networks. Moreover, Greenpacket Solutions has taken the lead in developing 15 trials with a mix of mobile data offloading and Wi-Fi experience management trials around the world, which include China Mobile and Telefonica, Spain’s largest telecommunication operator.
Puan added, “The Greenpacket Solutions pillar has been instrumental in establishing our global footprint for the past 12 years, its exponential growth and the positive response it received from the Global market have been our key motivator and have enabled us to accurately address evolving market needs. We are excited as we are now making the transition to the next phase of innovation, tackling TD-LTE, wireless data offloading and W-Fi experience management as our next expected market growth areas.”
With its many international business endeavors, the Greenpacket Solutions pillar continues to be the leading provider of connection management solutions in Asia and the world’s third largest supplier of 4G/WiMAX devices.
Meanwhile, the Group’s P1 pillar, saw its first quarter revenue increased to RM 85 million, a 52% increase Year-on-Year. Additionally, P1 has successfully increased its subscriber base to 401,000 with its network now covering 53% of Malaysia’s population.
Puan explained, “We will continue to develop innovative products and value-for-money services to cater to the different customer markets. Such initiatives can be seen in P1’s fiber offering – “Fiber by P1”, which is a strong product proposition for the heavy user and SME market. This is a testament of our commitment to continuously evolve to meet our customers’ needs.”
P1 aims to position itself as a major SME technology enabler for value-added multi-services solutions in response to the growing momentum among Malaysian SMEs leading to increasing demand for information and communications technology service development, to make them more competitive in a global environment
Puan also added, “All in all, it has been a good quarter for us against the backdrop of an overall lackluster period for the industry. These results clearly demonstrate that the P1 pillar has proven its ability to deploy higher speed and quality broadband in Malaysia with low cost of operations, while the Greenpacket Solutions pillar’s continuous growth will help to propel the Group forward in its vision of becoming a leader in delivering best connectivity to enrich lives.”
“However having said that, it is also the faith and trust of our customers in us that has brought the Group to where we are today and we will continue to invest to expand the business further and to ensure that our customers will continue to enjoy our best product offerings and services.”
Sunday, 20 May 2012
Green Packet confident of improved valuation | theSundaily
http://www.thesundaily.my/news/384016
Green Packet confident of improved valuation
Posted on 21 May 2012 - 12:04pm
Last updated on 21 May 2012 - 12:16pm
Ee Ann Nee
sunbiz@thesundaily.com
Puan
PETALING JAYA (May 21, 2012): Green Packet Bhd is undervalued with the stock currently trading near its record low, but its founder is confident that the broadband provider will be given a proper valuation when it turns around this year with its first positive earnings before interest, taxes and depreciation and amortisation (ebitda).
The company, according to its group managing director and group CEO Puan Chan Cheong, has not been given the right valuation.
"We believe when the group turns ebitda-positive in 2012, the confidence and sentiment (of investors) will be different, despite the public equity market not giving us the valuation due to risks and long gestation period," he told SunBiz in an interview.
At last Friday's closing price of 50.5 sen, the company has a market capitalisation of RM332.2 million, much lower than Puan's valuation of RM1 billion based on sum-of-parts calculation.
According to Puan, its 57%-owned 4G broadband unit Packet One Networks (Malaysia) Sdn Bhd is valued at nearly RM1.5 billion based on the US$100 million (RM312 million) invested by SK Telekom Co Ltd of South Korea for a 26% stake in the company, and the solutions business, which is valued at not less than RM200 million.
Last year, the solutions business posted a profit of RM25 million, and the price tag of RM200 million is based on the 8-12 times price earnings multiples fetched by major telecommunications companies.
Puan said this year also marks the end of the group's five-year transformation plan, and all sights will be on the company's financial results. It is expected to release its first-quarter 2012 results this Wednesday.
"The focus now is to build a positive ebitda, and when the group is cashflow-positive operationally, the route to profitability will come. Overall, revenue needs to be over RM600 million for us to achieve a positive ebitda."
Green Packet expects an annual performance of over RM1 billion in revenue by 2015 and more than RM500 million in ebitda by 2020. It is looking at an annual growth of RM100 million in ebitda from next financial year.
The group achieved its first positive ebitda in the month of December 2011, mainly from its solutions business. It expects both its solutions and 4G broadband – the latter via Packet One Networks (Malaysia) Sdn Bhd (P1) – pillars to also be ebitda-positive this year.
"Achieving investor confidence and share price performance is a matter of time," Puan said, adding that the group has developed its capabilities to compete with the telecommunications incumbents and beaten competition from newcomers.
He said some institutional investors took a temporary exit from Green Packet and divested their shares in the company because of the risk profile and the long term investment-changing landscape.
Despite this, it attracted long term shareholders Intel Capital and SK Telecom to invest in P1, in which the former holds a 17% stake in P1. Green Packet holds a 57% interest in P1.
He said the ebitda target had been postponed for a year after SK Telecom invested in the company, as it wanted Green Packet to gain more market share and become ebitda-positive.
Puan believes that ebitda and a positive cashflow are key factors in gauging the performance of telcos.
"For an infrastructure investment like telco, the capital expenditure (capex) is front-loaded. If we invest RM1 billion in capex, the amortisation and depreciation will be RM100 million a year over a period of 10 years. Hence, the more accurate measurement for the telco business will be the ebitda."
Green Packet is now the country's fourth largest broadband provider, with 388,000 paying subscribers. The group has a nationwide coverage of 55%, and an 80% coverage in the Klang Valley alone.
"By year-end, we expect a 100% coverage in the Klang Valley, and this will pave the way for us to offer mobile broadband and handset next year," said Puan.
The company has spent RM250 million to RM300 million a year in the last four years.
"We're looking at investing RM30 million to RM40 million this year on the roll-out (of our broadband services) in Sabah, starting in Kota Kinabalu," he added.
Green Packet confident of improved valuation
Posted on 21 May 2012 - 12:04pm
Last updated on 21 May 2012 - 12:16pm
Ee Ann Nee
sunbiz@thesundaily.com
Puan
PETALING JAYA (May 21, 2012): Green Packet Bhd is undervalued with the stock currently trading near its record low, but its founder is confident that the broadband provider will be given a proper valuation when it turns around this year with its first positive earnings before interest, taxes and depreciation and amortisation (ebitda).
The company, according to its group managing director and group CEO Puan Chan Cheong, has not been given the right valuation.
"We believe when the group turns ebitda-positive in 2012, the confidence and sentiment (of investors) will be different, despite the public equity market not giving us the valuation due to risks and long gestation period," he told SunBiz in an interview.
At last Friday's closing price of 50.5 sen, the company has a market capitalisation of RM332.2 million, much lower than Puan's valuation of RM1 billion based on sum-of-parts calculation.
According to Puan, its 57%-owned 4G broadband unit Packet One Networks (Malaysia) Sdn Bhd is valued at nearly RM1.5 billion based on the US$100 million (RM312 million) invested by SK Telekom Co Ltd of South Korea for a 26% stake in the company, and the solutions business, which is valued at not less than RM200 million.
Last year, the solutions business posted a profit of RM25 million, and the price tag of RM200 million is based on the 8-12 times price earnings multiples fetched by major telecommunications companies.
Puan said this year also marks the end of the group's five-year transformation plan, and all sights will be on the company's financial results. It is expected to release its first-quarter 2012 results this Wednesday.
"The focus now is to build a positive ebitda, and when the group is cashflow-positive operationally, the route to profitability will come. Overall, revenue needs to be over RM600 million for us to achieve a positive ebitda."
Green Packet expects an annual performance of over RM1 billion in revenue by 2015 and more than RM500 million in ebitda by 2020. It is looking at an annual growth of RM100 million in ebitda from next financial year.
The group achieved its first positive ebitda in the month of December 2011, mainly from its solutions business. It expects both its solutions and 4G broadband – the latter via Packet One Networks (Malaysia) Sdn Bhd (P1) – pillars to also be ebitda-positive this year.
"Achieving investor confidence and share price performance is a matter of time," Puan said, adding that the group has developed its capabilities to compete with the telecommunications incumbents and beaten competition from newcomers.
He said some institutional investors took a temporary exit from Green Packet and divested their shares in the company because of the risk profile and the long term investment-changing landscape.
Despite this, it attracted long term shareholders Intel Capital and SK Telecom to invest in P1, in which the former holds a 17% stake in P1. Green Packet holds a 57% interest in P1.
He said the ebitda target had been postponed for a year after SK Telecom invested in the company, as it wanted Green Packet to gain more market share and become ebitda-positive.
Puan believes that ebitda and a positive cashflow are key factors in gauging the performance of telcos.
"For an infrastructure investment like telco, the capital expenditure (capex) is front-loaded. If we invest RM1 billion in capex, the amortisation and depreciation will be RM100 million a year over a period of 10 years. Hence, the more accurate measurement for the telco business will be the ebitda."
Green Packet is now the country's fourth largest broadband provider, with 388,000 paying subscribers. The group has a nationwide coverage of 55%, and an 80% coverage in the Klang Valley alone.
"By year-end, we expect a 100% coverage in the Klang Valley, and this will pave the way for us to offer mobile broadband and handset next year," said Puan.
The company has spent RM250 million to RM300 million a year in the last four years.
"We're looking at investing RM30 million to RM40 million this year on the roll-out (of our broadband services) in Sabah, starting in Kota Kinabalu," he added.
Thursday, 17 May 2012
Useful Android Tool (8) : Folder Organizer
For you to organize apps, contacts, bookmarks and others especially when you have too many apps :P
Wednesday, 16 May 2012
教师节快乐
今天是教师节
听到电台播出听众对老师歌颂
突然想起一路来教过我的老师
印象比较深的是
二年级的En Ismail， 国语老师，通窍华语，当我们不明白时，会以中文解释给我们听。
二年级的唐永发老师，补习老师，很耐心的教我的老师也让我开窍的老师。
三年级的何妹老师，班主任，一听到这名字，大家都会静下来，可以想像是那么的凶。其实她从二年级就开始骂我们了。呵呵。
五年级的葛伟凤老师，班主任，印象中不凶，很喜欢笑。
六年级的王碧娥老师，班主任，很凶，教我们打篮球，UPSR后还特地教我们很多课外知识。
六年纪（如果没记错）的付永铃老师，人文科学老师，唯一一位被我们气到哭出来的老师，还被王老师训了很久。当时的我们，真的很坏。
六年级的Mr Saw,英文老师，讲很正统的英文，上课前都会先抽烟.
预备班的美术老师，忘记名字了，带着“L"型的藤鞭，当然也很凶。
中一，中二的Pn Lian, 很耐心的教我们数学。
中三的Pn Soong, 教数学的，很凶，很严格。
中四的Pn Chuah,教Add Maths, 时常叫我们“撞墙壁”， 罚“跑球场”的。
中六的Pn Chew, 教Further Maths, 最记得的一句话，就是借了PTPTN后,一定要还，让更加多的人可以上大学
中六的Mr Chu, 教Further Maths, 因为没有老师，他硬着头皮教我们，还被我们在背后笑，真的很不该。
大学的老师就不大记得了。。。
在这里只想向教过我的老师
说声谢谢老师，教师节快乐。
Friday, 11 May 2012
Thursday, 10 May 2012
Sunday, 6 May 2012
Wednesday, 2 May 2012
笑一笑（转）
父:这次考试，行情如何？
子:发生崩盘，指数暴跌。
父:报一下收盘价位。
子:数学56，语文43，物理52，政治49，化学58。
父:怎么搞的?满盘皆墨。以前走势尚好，这次怎么多翻空了?
子:从基本面分析，平时上课因研究股市行情而没能好好听课;从技术面分析，这次监考太严，各种救市措施无法出台。
有一农妇初次进城！看到高楼，便数了起来！一骗子过来问道：“数几层了？罚款！每层5元！”农妇答：“十层！”随后，农妇交了钱。旁观者对农妇说：“你也太傻了吧！”农妇大怒：“你TMD的才傻呢！其实我数了十八层。
小学的时候，有一回，同桌借给一盘录像带。回家看的时候，看到有一行字是“18岁以下的青少年，请在父母的陪同下观看”，然后赶紧跑去找父母。后来，差不多整整一个星期鼻青脸肿中渡过。——这就是听话的孩子的下场！
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