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TIME dotCom Stays On Track In Q1 2019 [Financial Results]

TIME dotCom Berhad posted consolidated Group revenue of RM262.5 million for the quarter ended 31 March 2019 (1Q19). The 13.8% year-on-year growth can be attributed to higher sales recorded from all core product segments. The data and data centre businesses led growth by 15.2% and 8.9%, respectively.

time dotcom

All customer groups contributed to growth, led by Retail as a result of continued demand for its TIME Fibre Home Broadband service.

The Group recorded a 3.5% (pre-MFRS 16) increase in pre-tax profit to RM68.3 million. The increase is mainly due to higher revenue growth across core product segments and customer groups, and a higher share of profit from investment in associates.

TIME dotCom said it has intensified efforts to expand its footprint domestically in line with providing better broadband connectivity. It has bolstered its domestic network as evidenced by the Group’s recent achievements.

  • Ookla® Speedtest® Award for Fastest Fixed Network in Malaysia, Q3-Q4 2018
  • First telco in Malaysia and second in the world to achieve the Metro Ethernet Forum (MEF) 3.0 certification

“The initiatives that we have put in place will help us to weather a challenging 2019 while we look towards securing future growth,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.

On 29 March 2019, the Group paid an interim ordinary and a special interim tax-exempt (single tier) dividend of 9.25 sen and 11.31 sen per ordinary share respectively for the financial year ended 31 December 2018.

TIME is a telecommunications provider that delivers domestic and global connectivity, data centre and managed services to customers across ASEAN. Powering TIME’s businesses are its fibre optic network assets that span Malaysia, Singapore, Thailand and Vietnam – countries in which it has an established operational presence. TIME’s network extends beyond the region via its stakes in Unity, Faster, Asia Pacific Gateway (APG) and Asia-Africa-Europe-1 (AAE-1) subsea cable systems that cover two thirds of the globe. TIME is headquartered in Kuala Lumpur.

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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