Shah Alam, May 27 2010 – TIME dotCom Berhad (TdC) continued its profit run for the fourth consecutive quarter by recording a profit after tax (PAT) of RM18.8 million for the period ending 31 March 2010. The performance keeps TdC on its course for sustainable long term profits since it embarked on its turnaround initiative in late 2008.
The Group’s PAT came on the back of a 4% or RM2.5 million increase in revenue, when compared on a like–to-like basis (excluding revenue from payphone business disposed in 2009), can be mainly attributed to higher growth in its data businesses. With the wholesale segment being the main driver, TdC’s data revenue chalked a 14% year-on-year improvement.
The Group also saw its profit from operations improve to RM3.0 million against a loss in operations of RM2.8 million in the preceding year’s corresponding quarter. A company-wide push to cut cost in all aspects of its operations as well as management’s degearing efforts also aided in sustaining TdC’s profit trend.
Chief Executive Officer, Afzal Abdul Rahim said, “This marks one more quarter in the black for us. We started the year with network improvements and expansions. These enhancements made on our Cross Peninsular Cable System network have already resulted in a double-digit year-on-year growth in our data business.
“We have also upped the user experience in the broadband game by being the first-to-market fibre to the home connectivity with our signature product, TIME Fibre Broadband. As we progress in our network expansion plans in fibre broadband, we expect to see larger jump in our data business.”
On the Group’s outlook for 2010, TdC hopes to continue its profit streak by focusing on further expansion plans in network coverage and targeting key market segments by rolling out innovative products and services.
To tackle its largest market segments: Wholesale, as well as Corporate and Government, TdC plans to continue enhancements on its Cross Peninsular Cable System (CPCS) network by deploying a more efficient technology such as dense wavelength division multiplexing (DWDM) to ensure higher transmission capacity. On the retail front, TdC is on track to rollout TIME Fibre Broadband in high-density metro areas such as KLCC in the upcoming months.
TdC initiated its turnaround late 2008 following a partnership between its main shareholder, Khazanah Nasional Berhad and Global Transit International (GTI). GTI was chosen following a rigorous selection process by Khazanah and Afzal’s appointment as chief executive came soon after. The new management team has been credited for its efforts to bring TdC back to black for the first time in six years.
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About TIME dotCom Berhad
TIME dotCom Berhad, Malaysia’s alternative fixed-line telecommunications solutions provider, is a public listed company, listed on the Main Market of Bursa Malaysia. A pioneer in fibre optics technology, TIME dotCom hosts Malaysia’s most robust fibre optics network with its 6,000km land and submarine cables, providing nationwide coverage connections to businesses, residential and remote areas.
Licensed under the Malaysian Communications and Multimedia Act 1998, TIME dotCom's full suite of telecommunication licenses has enabled the TIME dotCom group to operate and offer its services, ranging from voice and data communications to broadband Internet, satellite connectivity, managed services, as well as other IT and communication solutions.
For more information, please visit: http://www.time.com.my/
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