Green Packet active, rises on KipleLive launch

KUALA LUMPUR (May 8): Shares in Green Packet Bhd spiked 8% to 81 sen in early trade today following the launch of its KipleLive proptech application yesterday.

At 10.18am, the telco stock was also the fifth most active counter on Bursa Malaysia, with 31.93 million shares traded. This valued the company at RM758.13 million.

Green Packet's warrants also rose four sen or 10.96% to 40.5 sen with 50.1 million units exchanging hands. This placed the securities among Bursa's top three most actives.

Like some tech firms, the telecommunications, media and technology company has gained 17.39% in value year to date despite the unfavourable market environment mainly due to the Covid-19 pandemic.

The stock peaked to 92 sen on Feb 21, before gradually declining to a low of 42 sen on March 23, five days after the movement control order was enforced. This means Green Packet has pared most of its losses since then, having nearly doubled its share price in less than two months.

In a statement yesterday, the firm said KipleLive integrates AI facial recognition, cloud hosted services, FR thermal scanner, visitor management system, and cashless smart parking solutions.

"Leveraging on cutting-edge surveillance systems, the KipleLive FR thermal makes temperature monitoring and identification of people more efficient, even with the face masks on," said its group managing director and chief executive officer CC Puan.

The facial recognition feature also enables employee attendance to be recorded instantly and manages the visitors’ entry-and-exit procedures by eliminating the need to fill paper forms.

Green Packet has also recently undertaken the “Warong Digital e-Baazar Ramadan” programme in collaboration with the Coalition of Malay Small Traders Association, which leverages the KiplePay e-wallet that allows cashless transactions.

"With the expected shifts in consumer behaviours, this will speed up the adoption of cashless payment. For instance, diners will opt to reduce any form of physical interaction and engage using e-wallet for self-collection, take away or delivery. This eventually eliminates the cash transactions and on-premises waiting time," said Puan.

Also read:Green Packet launches KipleLive proptech product to help offices address Covid-19 challenges