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TIME dotCom continues Growth Momentum in 1H 2021

TIME dotCom (“TIME” or the “Group”) posted consolidated Group revenue of RM678.5 million for the six-month period ended 30 June 2021. This was a 13.3% year-on-year increase as a result of higher revenues from the data centre and data product groups.

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For the period under review, the Group’s consolidated profit before tax grew by 12.3% to RM250.9 million compared to RM223.5 million recorded for the same period of the preceding year. This was attributed to higher overall revenues in the current half year period and a higher share of profits from associates.

Afzal Abdul Rahim, TIME’s Commander-in-Chief, said, “We are hopeful for a recovery even though headwinds are expected to persist for the near term as the wider economy grapples with the cascading effects of the COVID-19 pandemic. While network availability and stability remain a priority, the Group is also poised to capitalise on opportunities that may arise in the cloud and data centre space.”

Despite the challenges from the effects of the COVID-19 pandemic, the Group said it is hopeful that a recovery is forthcoming as the country ramps up efforts to vaccinate its population and affected sectors start to reopen. However, TIME dotCom says it is still vigilant as it ensures the sustainability of its operational and financial performance.

In line with supporting national telecommunications and digital economy objectives under JENDELA and the Malaysia Digital Economy Blueprint (MyDIGITAL), network availability and stability remain a priority as the Group works on further strengthening its existing domestic fibre network infrastructure and expanding coverage.

Furthermore, the Group aims to strengthen its strategic position in the cloud and data centre space as it keeps an eye out for opportunities to fortify the Group’s long-term growth.

Regionally, the Group continues to tap into demand for cross-regional connectivity and data centres in ASEAN in line with its regional expansion plans.

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