Benzinga | Oct 5, 2020 08:34AM EDT

Greenpro Intends To Incubate A Satellite Communication Venture

KUALA LUMPUR / ACCESSWIRE / October 5, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it intends to incubate a Low Earth Orbit satellite communication venture based in Malaysia to cover the ASEAN region.

This new company will provide internet connectivity via satellite for the South East Asia region. The vision is to provide internet access to areas and places where traditional internet connectivity is scarce with no fiber or 5G available. Borneo and other such remote islands would benefit tremendously with this service with our future Low Earth Orbit, "LEO" satellite connectivity.

CEO CK Lee said: "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."

The Company has been incubating many ventures and will incubate this project along with SEATech Ventures Corp, an OTC quoted company. GRNQ and the group of companies own 40 million shares of SEATech Ventures Corp out of 92.5 million shares issued.