Greenpro Capital's (GRNQ) Communications Venture Plans to Launch its First Test LEO Satellite

March 8, 2021 8:18 AM EST
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Greenpro Capital Corp. (NASDAQ: GRNQ) today announced that it is progressing on its plan to incubate a Low Earth Orbit (LEO) satellite communication venture based in Malaysia to cover the Southeast Asia region.

The LEO Satellite venture has secured partnerships with global technology collaborators, local universities and a state government. It plans to deploy a constellation of LEO satellites and launch the first test satellite in the coming months.

This LEO Satellite venture is to provide internet access to areas and places where traditional internet connectivity is scarce. The total population of Southeast Asia countries (ASEAN) as of 2020 stands at over 668 million. Of the this entire population, approximately 335 million people are located in rural areas who have inadequate internet access.

CEO Dr. CK Lee said: "we are motivated 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 economies in the ASEAN region. We will be working closely with SEATech Ventures Corp to move this strategic venture forward."

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