TIME dotCom Berhad (the Group) recorded a consolidated Group revenue of RM983.4 million for the financial year ended 31 December 2018 (FY2018).
The Group posted a pre-tax profit of RM304.8 million in FY2018 (Pre-MFRS FY2017: RM193.1 million), which can be attributed to higher overall revenues, cost control, net gain on foreign exchange and a higher share of profit from investments in associates.
Afzal Abdul Rahim, TIME’s Commander-in-Chief said, “We’re pleased that TIME was able to sustain its competitive positioning despite the challenging market landscape in 2018.”
The industry is expected to remain competitive in 2019. The Group will continue to support the growing movement to provide better broadband connectivity, as proven with the launch of its refreshed TIME Fibre Home Broadband plans in Q4 2018 that introduced 1Gbps speeds to Malaysia, it said. This strategic move has helped TIME dotCom to maintain its speed and price leadership position and will help to gain further market share in the longer term.
Moving forward, TIME dotCom will continue to work with its regional partners in Thailand and Vietnam to create a seamless telecommunications network and be on the lookout for opportunities to expand its Data Centre market presence in the region.
For the financial year under review, TIME declared an interim ordinary (single tier) dividend of 9.25 sen per ordinary share and a special interim (single tier) dividend of 11.31 sen per ordinary share, which will be paid out on 29 March 2019.