TIME dotCom grows Q2 revenue by 7.1%

31 Aug 2016
Daily News

Malaysia's TIME dotCom has reported a 16.4% year-on-year increase in operating profit for the second quarter to 42.5 million ringgit ($10.4 million), driven by solid revenue growth.

Revenue rose 7.1% year-on-year to 175.4 million ringgit, with gains recorded across all segments. Data revenue grew 14.3% year-on-year, data center revenues grew 12.1% and voice revenues increased 10.3%.

Fiber home broadband revenue grew 24.6% sequentially to account for 10.4% of the company's overall revenue, as the company introduced Malaysia's first 500Mbps fiber home broadband services.

TIME dotCom also recorded a gain of 4.8 million from pre-sale activities for the new FASTER trans-Pacific cable, which launched at the end of the quarter. FASTER is being operated in a consortium also consisting of Singtel, China Mobile International, China Telecom Global, KDDI and Google

The operator is also an investor in the Asia-Pacific Gateway cable system connecting Malaysia, South Korea and Japan, which is expected to commence operations later this year.

Looking ahead, TIME dotCom said that while the second half of the year is likely to remain challenging, the company remains optimistic about the opportunities within the ASEAN region.

Domestically, the company plans to redouble efforts to gain market share while further expanding and strengthening its fiber network and coverage presence.

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