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TIME dotCom reports Q2 2015 Financial Results

TIME dotCom Berhad, a Malaysian telecommunications provider, posted revenue of RM163.8 million for the three months ended 30 June 2015, or 5.2% higher than the previous year’s corresponding period of RM155.7 million.

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The company said that this is attributable to strong overall revenue contributions from the group’s Data, Data Centre and Voice products, despite lower contributions from global bandwidth sales and non-recurring contracts.

“We are satisfied with our second quarter performance and are confident that our domestic and regional growth plans are on track,” said TIME’s Chief Executive Officer, Afzal Abdul Rahim.

During the period under review, TIME realised a fair value gain of RM274.0 million from the disposal of a portion of its quoted equity investments. This resulted in a consolidated profit before tax (PBT) of RM317.0 million, or an increase of RM271.7 million compared to RM45.3 million in the previous year. On an adjusted basis (excluding realisation of fair value gain and dividend income), consolidated PBT grew 5.4% compared to the same period last year.

In the first half of the year, revenue rose 16.7% to RM335.5 million compared to RM287.6 million a year earlier, while adjusted consolidated PBT (excluding realisation of fair value gain and dividend income), jumped 46.4%.

These improvements are due to higher data revenue underpinned by stronger contributions from global bandwidth sales and income from non-recurring contracts in the six months ended 30 June 2015.

TIME said it continues to see growth opportunities within the ASEAN region thanks to its economic growth trajectory.

“Our aim is to further leverage on our technology and know-how, and I am pleased to note that our regional expansion initiatives in the last couple of years are showing positive outcomes,” said Afzal. Within Malaysia, the group is focused on its core operations by ensuring top-notch network and service quality to further boost market share.

TIME is also currently expanding its international submarine cable investments with the Asia-Pacific Gateway (APG), Asia-Africa-Europe 1 (AAE-1) and FASTER cable systems currently under construction and scheduled to be completed progressively over the next two years.

TIME dotCom subsidiaries include the Global Transit Group of Companies offering global bandwidth services and the AIMS Group of Companies, an industry-certified data centre provider.

About Kugan

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