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TIME dotCom Posts Resilient Growth for Q1 2021

TIME dotCom Berhad (“TIME” or “the Group”) announced a consolidated Group revenue of RM331.3 million for the quarter ended 31 March 2021. The 12.7% year-on-year revenue growth was mainly attributed to higher revenue from the data centre and data product groups.

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The Group’s consolidated profit before tax eased RM0.2 million, or 0.1%, to RM125.4 million for the period under review when compared to the RM125.6 million recorded for the same 3-month period in 2020. This was primarily the result of a lower net gain on foreign exchange of RM8.3 million in the quarter, as compared to RM27.1 million in the prior year period.

“We remain cautious and vigilant of the challenges that will continue as a result of the protracted COVID-19 pandemic despite the steady operational and financial results the Group has delivered. We will continue to prioritise network availability and stability for our customers throughout this difficult period, where remote working and learning are an ever-growing part of our daily lives,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.

The Group continues to monitor the impact of the pandemic on the larger economy as it strengthens and improves its existing network infrastructure and expands its coverage footprint towards its goals of providing a quality network experience and ensuring network availability for its customers.

TIME is constantly innovating to deliver quality, meaningful solutions and services to its customers as demonstrated by the acquisition of a 60% stake in AVM Cloud and the upcoming completion of its data centre in Cyberjaya, both aimed at strengthening the Group’s strategic position in the cloud and data centre segments to support the Group’s long-term growth.

Further to that,  TIME continues to support the Malaysian government in achieving its national telecommunications and digital economy objectives to bridge the digital divide and transform the country into a regional leader in the digital economy under the JENDELA and MyDIGITAL initiatives.

Regionally, the Group said it continues to leverage on the increasing demand for cross-border connectivity as it works with its partners in Thailand, Vietnam, and Cambodia. The Group also continues its growth aspirations as a key regional data centre player and operator.

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