TIME dotcom records 12% increase in Group revenue

TIME dotcom Berhad has recorded consolidated Group revenue of RM 293.9 million for the quarter ending March 31. According to the group, the consolidated Group revenue recorded a 12 percent year-on-year increase.

The increase was driven by higher overall revenue growth seen across all core product and customer groups.

Additionally, a current quarter consolidated profit before tax of RM 125.6 million was recorded. The company attributes it to a higher overall revenue growth, a large net gain on foreign exchange, lower interest expense and a higher share of profit from associates.

“The remainder of 2020 will be a challenging one, not just for our industry, but for the global economy at large. Thankfully, we enter this period with a robust operational framework and a solid balance sheet. This should help us weather through the rest of the year as we adapt to the challenges posed by Covid-19,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.

The Group is currently looking into prioritising a 100 percent network availability and stability throughout the MCO period. On the regional front, the Group will continue to work with partners  to tap into the increasing demand across Thailand, Vietnam and Cambodia.

“The Group will also assess opportunities to further establish itself as a key regional data centre player and operator with the intention to unlock the long-term potential of its data centre business,” Afzal said.

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