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TIME reports 3Q15 financial results [Financial]

TIME dotCom Berhad reported its third quarter financial results (3Q15) last week. The company said it has delivered strong third-quarter revenue growth on continued and improved demand across its data, data centre and voice product segments.


For the three months ended 30 September 2015, revenue rose 15.1% to RM173.4 million compared to RM150.6 million a year ago, thanks to higher data, data centre and voice contributions.

Data revenue grew 13.8% in the period from a year earlier, while data centre and voice revenue grew 25.1% and 11.9% respectively.

TIME also achieved an operating profit of RM54.2 million during the quarter, or a 27.9% jump from the previous corresponding period’s result of RM42.4 million. This was driven predominantly by higher data and data centre revenue, and included a net gain on foreign exchange of RM19.0 million.

For the nine months ended 30 September 2015, revenue rose 16.1% to RM508.8 million against the previous year’s RM438.2 million. Meanwhile, operating profit rose to RM137.8 million, up 35.4% from RM101.8 million a year ago. Included in the operating profit for the period is a foreign exchange gain of RM31.8 million.

“We’re excited about expansion and growth here in Malaysia, as well as in ASEAN. There are numerous opportunities everywhere we look. My message to shareholders is this: expect us to continue investing on both domestic and regional fronts, so that we grow with the region”, said Afzal Abdul Rahim, TIME’s Commander-in-Chief.

In July 2015, TIME completed the acquisition of a 25.37% stake in CMC Telecommunication Infrastructure Corporation via subscription of for VND255 billion (RM45.9m). TIME also acquired a 49.0% stake in KIRZ co, Ltd for THB54.2m (RM6.8m) on 18 September 2015. KIRZ Co., Ltd is a telecommunications provider in Thailand.

“We believe we have the right foundation for growth and we are confident in our ambition to become a leading telco in the region,” he concluded.

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

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