Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 1): Time dotCom Bhd is hopeful that the government will give it the "opportunity" to expand into the landed property segment of the fixed-line operating sphere.

Its group chief executive officer Afzal Abdul Rahim said the group is keen to expand its network services from enterprises and business to include landed properties. However, it currently does not have access to poles to provide connectivity to landed properties.

"Without pole access, we are not being able to rent or plant new poles and [thus,] we can't reach the landed properties," Afzal told a press conference after the group's annual general meeting today.

Afzal said Time dotCom has made its intentions clear to the government.

"We are happy to invest to expand our coverage. We just need to be given a chance to [expand coverage]," he added.

On prospects, the group anticipates continuous challenges in the telecommunications industry. However, the group still expects growth amid challenging market conditions.

"We remain cautiously optimistic. We have a small market, which is nice in the current situation and [we enjoy] relatively high margins," said Afzal.

On Thursday, Time dotCom announced its net profit for the first quarter ended March 31, 2018 (1QFY18) rose 19% to RM62.94 million from RM53.05 million a year ago, on higher revenue from its data and data centre segments.

Quarterly revenue rose 6% to RM230.73 million from RM218.42 million a year ago.

At 3.53pm, the counter was up 46 sen or 6.13% at RM7.96, bringing a market capitalisation of RM4.65 billion.

 

      Print
      Text Size
      Share