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Malaysian duo report full year financial results

23 Feb 2010

Malaysian fixed line incumbent Telekom Malaysia™ has posted a net profit of MYR643 million (USD188.7 million) for the twelve months ended 31 December 2009, up a staggering 180.4% against the same period a year earlier. The huge rise was attributed primarily to lower operating costs, gain on disposal of equity investments and unrealised exchange gains on translation of foreign currency borrowings. Revenue however for the telco’s 2009 fiscal year fell 0.8% year-on-year to MYR8.61 billion, predominantly on the back of lower revenue from MERS99, the unified emergency contact number system for the Malaysia Emergency Rescue Service; excluding revenue from the service, TM would have posted a 0.9% y-o-y rise in total revenue. For the twelve-month period fixed line voice services accounted for 46% of total turnover, or MYR4 billion, down from 51% in the previous year (MYR4.4 billion). Earnings before interest, tax, depreciation and amortisation (EBITDA) meanwhile rose 6.4% against FY2008 to MYR3.1 billion.

Alternative operator Time dotCom (TdC) also unveiled its end of year financial results, announcing that on the back of a strategic corporate restructuring and renewed focus on the business and corporate markets, it had returned to profit. For the twelve months ended 31 December 2009 TdC posted a pre-tax profit of MYR33.1 million, compared to a loss of MYR950.5 million in FY2008. TdC’s full year revenue remained flat at MYR286.8 million for 2009, compared with MYR286.5 million a year earlier; TdC said that despite increased revenue from data and internet services, this was offset by the loss of revenue from its payphone business, TIME Reach, the sale of which was completed in May 2009.

Malaysia, Telekom Malaysia, TIME dotCom

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