TIME dotCom reports 22% increase in operating profit for 2014 [Business]

TIME dotCom Berhad reported a 22% increase in operating profit for the year ended 31 December 2014 (financial results) compared to the year earlier, as local and regional data consumption grew at greater rates and business improved in all its key operating subsidiaries.

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“I am pleased to report another solid year,” said Chief Executive Officer, Afzal Abdul Rahim. “The consistency of our performance really demonstrates the strength of our network performance and overall business.”

TIME said it enjoyed a year of strong data-driven performance, as higher data revenues from global bandwidth sales and data centre sales were recorded.

For the year 2014, demand for data was strong, consistent and broad-based, with growth coming from all of TIME’s key business segments of Wholesale, Enterprise and SME & Consumer.

Revenue grew 9% to RM596.3 million and core pre-tax profit gained 24% to RM143.9 million.

Concurrent with the strength in data demand both at home and abroad, TIME stepped up its investments in international submarine cable systems, further adding a cross-border flavour to its suite of product and services, it said.

“We’re never sitting still,” said Afzal. “More coverage means more customers. More pipes means more traffic. We’re spending more now to ensure that we have adequate capacity to fuel the demand for bandwidth in ASEAN.”

In line with its core businesses, TIME will focus its expansion on regional wholesale bandwidth, international submarine cable and data centre assets.

TIME’s Asia-Pacific Gateway (APG) and FASTER cable systems, which connect Malaysia to the United States via Korea and Japan, are both expected to be completed in 2016. Meanwhile, the Asia-Africa-Europe-1 (AAE-1), which connects Asia to Africa, Europe and the Middle East, is expected to be completed the year after, in 2017.

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy
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