TIME acquires three companies in telco space
By Digital News Asia June 29, 2012
- Group now includes AIMS, GTC and GTL
- To tap into regional wholesale bandwidth market
TIME dotCom Berhad acquired three companies in the telecommunications industry on May 17, expanding revenue source to 11 other countries besides Malaysia, the company said in a statement.
The enlarged TIME Group now includes the AIMS Group, one of South-East Asia's leading carrier neutral data centers; Global Transit Communications Sdn Bhd (GTC), a regional Internet and bandwidth provider to other telecommunication companies; and Global Transit Ltd (GTL), which holds a 10% interest in the Unity Cable System.
Speaking at a press conference after TIME’s 15th Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) on June 28, chief executive officer Afzal Abdul Rahim said he expects these high-growth companies to immediately accelerate the Group’s performance in the coming years.
“We are now able to expand our business beyond Malaysia, tapping into the regional wholesale bandwidth market that serves a population of around 765 million.
“The acquired companies give us regional network nodes, a trans-pacific undersea cable system and an entry into the fast-growing data centre business,” he said.
TIME will continue to focus on its strategy of growing the Malaysian business while GTC and GTL will be geared towards tapping into the regional bandwidth growth.