TIME dotCom, the forgotten child in the broadband sector among consumer that is, is ready to pounce after a year of consolidation including an overseas expansion. Its Thai counterparts in Symphony Communication allows the group to tap into the potential of the strategic investment, including creating a seamless network across Indochina and Malaysia. Bearing fruits with these initiatives, TIME dotcom reported a consolidated revenue of RM626.7 million which represents a 14.9% increase from the year before.
Attributing the growth to higher recurring sales from its data and data centre product segments, and also its disposal of shares in Digi. But the main product, its home fibre broadband product has seen little or no growth despite having the best cost per megabit rate in the industry. Offering packages of 300Mb for RM189 to 500Mb at RM299 in comparison to state run Unifi which starts at RM139 for 30MB. However, Time customers will have to live atop condominiums to enjoy the service, as for now the coverage is restricted.
“We are feeling the pressure of increased competition but believe that the strategies we have in place will help sustain our medium-term growth,” said Afzal Abdul Rahim, TIME’s Commander-in-Chief.
The outlook for coming months will remain competitive and challenging as pressure persists on traditional revenue streams and telecommunication service offerings become more commoditised. TIME expects to face these challenges by intensifying efforts to extend its coverage footprint and unlock more potential from its TIME Fibre Home Broadband.
As the country sees more citizens adopt the digital revolution, connectivity to better, faster and more affordable broadband becomes essential and the only way this can take place is when the playing fields for the providers is leveled.
