If the sales of P1 still not able to complete before end of 2013. We believe revenue reducing plus continue substantial losses are not looking good if pro-longed.
Either P1 should float its shares to finance a bigger expansion or it must sell at lower valuation to ensure they are not going into a non return road.
We will not re-enter Gpacket if not below RM 0.450 by now. We afraid it may have a good chance to fall below RM 0.400. Unless given any corporate development we are not aware and we advise patient by now.