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Greenpro Capital Corp. (NASDAQ:GRNQ) on October 5, 2020 reported that, along with SEATech Ventures Corp, an OTC quoted company, the company plans to incubate a Low Earth Orbit satellite communication project. This project will base in Malaysia to cover the ASEAN region and supply internet connectivity through satellite for the region of South Asia.
GRNQ and the group of companies have 40 million shares of SEATech Ventures Corp out of 92.5 million shares issued.
The company’s vision is to give internet availability to those areas and places which have rare traditional internet connectivity with no fiber or 5G available. This service is greatly helpful in bringing the internet access to Borneo and other such remote islands by using company’s future Low Earth Orbit, “LEO” satellite connectivity
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. We will be working closely with SEATech Ventures Corp to move this critical communications project forward., said CEO CK Lee
Separately, Greenpro Capital recently recorded a dividend of 1 DQWS share for every 5 GRNQ shares for shareholders of record on September 30, 2020. Qualified Shareholders for this dividend will receive their shares directly into their brokerage account automatically. The Company transfer agent Vstock is handling this distribution.
Greenpro Capital Corp. (NASDAQ:GRNQ) surged 70.64% and ended at $1.86. The total traded volume was 132,658,197 shares and market capitalization arrived at $110.053 million. The stock has a 52-week high price of $3.12 and its 52-week low was recorded at $0.21, while during last trade its minimum price was $1.75 and it gained the highest price of $2.74.