KUALA LUMPUR: Green Packet Bhd rose in early trade Thursday after its subsidiary received a conditional investment bank licence from Labuan Financial Services Authority (LFSA).

       The technology company rose 4.88%, or one sen to 22 sen at 9.04am. It is currently the fourth most active counter on Bursa Malaysia with over 26 million shares traded.

       Green Packet’s wholly owned subsidiary Oasis Capital Investment Bank (OCIB) has received a conditional investment bank licence from LFSA.

       The conditional investment bank licence is a greenlight by LFSA for OCIB to begin fulfilling operational conditions such as setting up the required processes and technology platforms in accordance with regulatory requirements.

       A full operating licence will be awarded by LFSA upon fulfilment of these operationalisation activities.

       OCIB aims to become an innovative forerunner in Southeast Asia’s offshore neobank scene specialising in digital asset portfolio advisory, management services as well as bespoke structured products and services for high-net-worth individuals (HNWI), institutions and enterprises.