TIME Dotcom eyes 25-27 pct earnings from newly acquired data centres

Business & Markets 2013
Written by Bernama
Monday, 20 May 2013 18:43
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PETALING JAYA (May 20): TIME DOTCOM BHD [] is expecting
between 25 and 27 per cent contribution for this year's earnings from its
completed major acquisitions, Chief Executive Officer Afzal Abdul Rahim
said today.
Last year, the company acquired three data centre companies -- AIMS
Group, Global Transit Communications and Global Transit Ltd.
"Data centres are the engine of our revenue. Almost 95 per cent of our
growth comes from it.
"Not only the data centre business, all of our sectors have recorded
strong performances, he told reporters after the company's annual
general meeting.
For its first quarter results, Time dotCom posted an operating profit of
RM31.4 million, an increase of RM10.2 million a year ago.
Besides data centres, Afzal said the company together with its
shareholders were looking forward to growth that would come from
fixed-line and international sub-sea cable businesses.
With RM1 billion worth of investments, the company is also looking at
expanding its market to Asean countries, namely Thailand, Indonesia,
and Vietnam.
It will also invest RM250 million this year for capital expenditure.
TIME dotCom is the country's second largest fixed line telecommunications network and solutions provider after TELEKOM
MALAYSIA BHD []. -- BERNAMA