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Maxis Bhd (6012) has hinted that it may give more dividends than promised.

It has pledged to return at least 75 per cent of net profit to shareholders. However, analysts expect more and some even think it could give all of its profit because of its strong cash position.

Its free cash flow (operating profit minus capital expenditure) could be around RM3 billion to RM3.5 billion over the next two years, some analysts calculated.

“We will continue to have a strong cash flow. We also want to make sure at most of the time, we should have an ideal balance sheet, which means we can’t be sitting on cash. Either we reinvest it or we pump the money back to the shareholders,” explained Maxis chief executive officer Sandip Das in an interview on Wednesday.

At the end of June this year, Maxis had RM1.88 billion in cash.

In 2008, the company’s net profit grew 20 per cent to RM2.4 billion. For the first half this year, its net profit was RM1.14 billion.

Analysts expect Maxis’ earnings to hit RM2.3 billion to RM2.5 billion this year.

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Dialog Group Bhd has proposed a bonus issue of up to 568.3 million shares to be credited as fully paid-up on the basis of two bonus shares for every five existing shares held on an entitlement date to be determined and announce later.

In a filing with Bursa Malaysia, Dialog said the bonus issue was to increase the share capital to a level to better reflect the operations of the company and its subsidiaries which were global and expanding and the group’s asset base.

As at Nov 16, the issued and paid-up share capital of Dialog stood at RM141.3mil, comprising 1.41 billion shares.

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Green Packet Bhd’s pre-tax loss for its third quarter ended Sept 30, 2009, rose by 200 per cent to RM32.377 million from RM10.784 million in the same quarter last year.

This was due to its investment in subsidiary Packet One Networks (M) Sdn Bhd (P1)’s deployment plan and activities, Green Packet said in a statement today.

However, its revenue increased by 246.9 per cent during the third quarter to RM63.035 million from RM18.172 previously.

Green Packet said P1′s subscriber growth increased by 44 per cent in the third quarter as compared to the second quarter.

“In line with the group’s business strategy, we are investing heavily in our 4G WiMAX operator, P1, which is rapidly expanding across Malaysia and gaining momentum in terms of subscribers,” said Green Packet’s group managing director and chief executive officer Puan Chan Cheong.

Puan said Green Packet’s advertising and promotion activities had increased substantially, with the company moving to mainstream broadcast media to introduce its service packages to the masses.

“The quantum of subscriber increase is exciting, and we target for P1 to be EBITDA (earnings before interest, taxes, depreciation, and amortisation) breakeven by first quarter 2010,” he said.

P1, now the only nationwide 4G WiMAX operator in the country, plans to extend its network to East Malaysia and Singapore next year.

Green Packet said it has healthy cash reserves, having recently conducted a rights issue and announced a proposed private placement expected to be completed by the end of this financial year.

The proposed private placement is expected to contribute positively to the group’s future earnings and should result in an increase in the company’s total issued and paid-up share capital.

“Our fund raising is part of our business strategy, which requires working capital for capital expenditure and operating expenses, including the deployment of 4G WiMAX infrastructure in Malaysia and other overseas markets,” Puan said.

Green Packet said its products and solutions have increased their shipments in recent months and were profitable since the second quarter.

The group is also expected to announce contracts with East European and American operators, and launch new products before the year-end

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