TIME expects continued growth with expansion of global network
By Digital News Asia June 6, 2014
- 2013 revenue at RM548.3 million, operating profit was RM118.0 million
- AAE-1 submarine cable system yielding significant global bandwidth opportunities
TIME dotCom Berhad (TIME), is confident of building on its steady performance in the current financial year to continue delivering value to its shareholders.
“Regionally, our prospects are exciting,” said chief executive officer Afzal Abdul Rahim (pic), following its 17th annual general meeting held on June 5.
For the financial year ended 31 December 2013, operating profit jumped 61% to RM118.0 million compared to the year earlier, driven by robust local and global data demand.
[RM1 = US$0.31]
Revenue rose 31% to RM548.3 million on higher data sales and a full 12-month contribution from the company’s data centre and global bandwidth businesses.
TIME expects continued growth in 2014 on the back of pent-up demand for quality high-speed data, global bandwidth and data warehousing services.
“The addition of the Asia-Africa-Europe-1 (AAE-1) submarine cable system to our stable means we can expect to see good long-term global bandwidth demand from this link to Europe via the Middle East,” said Afzal.
AAE-1 is a high-capacity cable system linking Asia and Europe via the Middle East and is a major step forward in the company’s ‘Asia-World-Asia’ strategy.
With AAE-1, it has made definitive moves in establishing a truly global high-speed connection, yielding significant global bandwidth opportunities.
“Our regionalisation plans are gaining momentum,” Afzal added. “Not only will there be strong synergies from AAE-1 to our existing submarine cables, we fully expect to see a boost in revenues and earnings when they are completed.”