TIME dotCom Berhad benefitted from 2020’s unprecedented environment, the group revenue saw a RM1,223.2 million in revenue for the financial year representing a 9.8% increase over the same period of the preceding year with Retail and Wholesale customer groups leading the contributions to revenue growth. Data and Data Centre product also recorded higher sales resulting in year-on-year revenue growth of 10.7% and 8.6%, respectively.
Overall consolidated profit before tax grew to RM423.1 million for the period under review, a RM95.0 million increase over the RM328.1 million recorded for the same period in FY2019. The increase can be attributed to higher overall revenue, higher dividend income and a higher share of profits from associates.
“Time has stayed resilient owing to the solid fundamentals and long-term strategies we have in place that have allowed us to navigate this unprecedented year. We will continue to monitor external factors and developments impacting the business and are ready to adapt to any challenges that 2021 may bring,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
A for 2021, Time expects the first half to continue to be challenging amid uncertainties arising from the ongoing COVID-19 pandemic. It will prioritise on striving for 100% network availability and stability as it continues to strengthen and improve its existing domestic fibre network for coverage footprint expansion. Through the Group’s strategic acquisition of AVM Cloud, it is now able to offer a comprehensive suite of solutions to its Enterprise customers. The Group also looks forward to the upcoming launch of its wholly owned data centre facility in Cyberjaya that is expected to contribute to future medium-term revenue growth and the Group’s plans to establish itself as a key regional data centre player.
Furthermore, the Group will also continue to leverage on the increasing demand for cross-border connectivity as it works with its partners in Thailand, Vietnam and Cambodia