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.