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Greenpro Capital Corp. (NASDAQ:GRNQ) Angkasa-X successfully launched its A-SEANSAT-PG1 ("PG1") satellite today from the Vostochny Cosmodrome in Russia, marking its first significant step into the SpaceTech ecosystem.
AngkasaX, the SpaceX of Asia, will provide LEO satellite-based Internet services in ASEAN, an area covering 680 million people. Morgan Stanley estimates that the global space industry could generate revenue of more than $1 trillion or more in 2040, up from $350 billion, currently. Yet, the most significant short- and medium-term opportunities may come from satellite broadband Internet access. These services that are provided by AngkasaX.
Greenpro Capital CEO, Dr. CK Lee said: "We are thrilled with our investment in AngkasaX, With the successful launch of the satellite this drives our market valuation and changes our underlying shareholder valuation considerably, based on these assumptions we can safely state that the company will only intend on raising additional capital at over $15 dollars a share. We are confident that Angkasa-X will be successful in achieving their goal of becoming the first company in Malaysia to become a "Unicorn" a company valued over a billion dollars".
Posted In: GRNQ
