Greenpro Capital's (GRNQ) Communications Venture Plans to Launch its First Test LEO Satellite
- Wall Street closes lower as virus spike hits travel stocks
- Netflix (NFLX) Tops Q1 EPS by 78c, Subs Miss
- Kansas City Southern (KSU) Soars as Bidding War Brews After Canadian National Railway (CNI) Makes a $33.7 Billion Offer
- Analysts Positive, Raise PTs as IBM (IBM) Tops Market Estimates and Reaffirms Guidance
- Boeing (BA) Down 3% After CFO - Aged 54 - Retires, Seen as an 'Odd' Move
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Avalara (AVLR) Reports Acquisition of DAVO Technologies
- Qiagen (QGEN) Launches artus Prep&Amp as CE-Marked SARS-CoV-2 Test Offering up to Threefold Increase in Daily Lab Testing Capacity
- Univar (UNVR) Solutions and Novozymes Announce Expanded Distribution Agreement in Latin America
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!