TIME narrows losses despite falling revenues

14 Nov 2006

Malaysia’s TIME dotCom has posted a net loss of MYR42.66 million (USD11.72 million) in the third quarter, compared with a MYR47.36 million loss in the year-ago period, on the back of cost cutting initiatives leading to lower sales costs and operating expenses. Revenues in the three months ended 30 September fell 31% to MYR82.23 million, down from MYR120.28 million, mainly due to lower wholesale voice revenue and lower payphone revenue. TIME has yet to release its operational statistics for the period.

According to TeleGeography’s GlobalComms database, TIME was this week issued with its third generation (3G) spectrum assignment by the Malaysian Communications and Multimedia Commission (MCMC). TIME plans to invest MYR800 million (USD220 million) in the launch of UMTS-based broadband internet services and it began a four-month trial using HSDPA technology in May, ahead of a planned commercial launch in the second quarter of 2007.

Malaysia, TIME dotCom