For the nine month period ended 30 September 2019 (9M 2019), TIME dotCom Berhad (“TIME” or “the Group”) posted revenue of RM818.5 million. This is a 13.6% increase over the same period of the preceding year.
The increase in consolidated revenue was a result of higher recurring sales from data, data centre and voice businesses. All core customer groups also contributed to overall revenue growth, led by wholesale and retail customers.
Consolidated pre-tax profit (pre-MFRS 16) stood at RM247.7 million, 14.1.% higher than the consolidated RM217.1 million pre-tax profit recorded in 9M 2018. This can be attributed to higher overall revenues and a higher share of profit from investment in associates, it said.
According to TIME dotCom, the competitive and challenging landscape of the Malaysian telecommunications industry will persist for the remainder of 2019 with liberalisation and improvement efforts being made through regulatory rebalancing. In line with this, the Group will continue to focus on strengthening and improving its domestic fibre network infrastructure while intensifying efforts to expand its coverage footprint.
“Service providers should be ready for new challenges brought on by the ongoing regulatory initiatives. We will continue to monitor these developments closely in order to form long term strategies that are beneficial to both the Group and the development of Malaysia into a digital nation,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
He adds that the Group will continue to work with its partners in Thailand, Vietnam and Cambodia to tap on increasing demand for cross border connectivity in the region and assess opportunities to develop its regional data centre business.
Time dotCom is a Malaysa-based Internet service provider. Its fibre optic network assets that span Malaysia, Singapore, Thailand, Vietnam and Cambodia – countries in which it has an established operational presence. TIME’s network extends beyond the region to deliver international connectivity via its stakes in the Unity, Faster, Asia Pacific Gateway (APG) and Asia-Africa-Europe-1 (AAE-1) submarine sea cable systems.