by Racheal Lee Mei Nyee, The Edge Daily

PETALING JAYA: Green Packet Bhd saw a net loss of RM55 million for the year ended Dec 31, 2008 (FY08), from a net profit of RM30.2 million a year earlier due to its investments in its wimax business, its managing director and chief executive Puan Chan Cheong said.

Speaking to reporters in a media briefing here yesterday, he said the company would incur total capital expenditure (capex) of RM1 billion over a four-year period beginning last year to establish its place as a WiMAX service provider. Puan said that the investments, which will be a major contributor in the future, would start to see results in the current financial year ending December this year.