GRNQ stock rose in pre-market trading on October 5, 2020, after the company announced a satellite communications venture.
Greenpro Capital announced that it intends to incubate a Low Earth Orbit satellite communication venture based in Malaysia to cover the ASEAN region. This new company will provide internet connectivity via satellite for the South East Asia region. The vision is to provide internet access to areas and places where traditional internet connectivity is scarce with no fiber or 5G available. Borneo and other such remote islands would benefit tremendously with this service with our future Low Earth Orbit, “LEO” satellite connectivity, CEO CK Lee said: “we are excited by the potential to bring internet connectivity to rural areas and help provide the infrastructure to drive e-commerce transactions and development along with cloud based data-centers for the local economies.