TIME dotCom aims to become regional communications player as it reveals three acquisitions

16 Nov 2010

Malaysia’s TIME dotCom (TdC) is to acquire three new companies with a view to enhancing its position as a regional telecoms player, the Star Online reports. TIME will spend MYR339 million (USD107.9 million) in total on the three purchases: MYR128 million for AIMS Group, of which MYR38.4 million will be paid in cash; MYR106 million for Global Transit Communications (GTC), all in stock; and MYR105 million for Global Transit Ltd (GTL), with MYR52.5 million of that via cash payments. GTC is a leading regional wholesale internet service and backhaul provider and GTL owns a 10% stake in the trans-Pacific Unity North Cable System, with the holding in the latter expected to allow TdC to lower costs while enhancing its wholesale offerings. AIMS meanwhile is a leading ‘carrier hotel’ (a type of data centre) in Malaysia. Commenting on the development, TdC’s CEO Afzal Abdul Rahim noted: ‘We were looking to expand our presence and we felt that these three companies offered us very unique opportunities to expand into extremely niche markets,’ while Ronnie Kok Lai Huat, TdC’s senior independent director, said: ‘This marks TdC’s transformation into a regional telco player and we see these acquisitions as value boosters that make good business sense … We will now have the capacity to deliver higher value products and services throughout Asia at competitive prices through a company based in Malaysia.’

Malaysia, TIME dotCom