History
Established 25 October 1996 as TIME Telecommunications Holdings Berhad, the company was renamed TIME dotCom Berhad on 17 January 2000.[9]
Through its many innovations and strategic acquisitions, the company has evolved into a regional telecommunications leader. In 2000, Khazanah Nasional acquired a 30% equity stake in the company. Time was listed on Bursa Malaysia a year later.[10][11]
In 2006, Time secured one of two 3G licences from the Malaysian Communications and Multimedia Commission (MCMC). Their 3G licence was later sold to DiGi.[12][13]
In the early 2000s, the company was a key player in boosting rural connectivity in Malaysia through its rollout of the National Universal Service Provision (USP) Project in 2006, in collaboration with the MCMC.[14][15]
Afzal Abdul Rahim[16][17] joined Time in 2008[18] as Chief Executive Officer. Appointed by Khazanah, he led the company’s recovery strategy starting with the sale of Time’s public telephone business to the prepaid fixed-line telephone company Paycomm for RM8.3 million. Within 1 year and for the first time in 6 years, Time was finally in the black.
On 31 March 2010, Time posted a profit run for the fourth consecutive quarter with a Profit After Tax (PAT) of RM18.8 million. Profit from operations improved to RM3.0 million against a loss in operations of RM2.8 million in the preceding year’s corresponding quarter.[18][19]
The company went on to introduce the country’s first high-speed broadband, Time Fibre Broadband, in 2012,[20] achieving speeds of up to 100Mbps. Malaysian financial newspaper The Edge reported that its 100% fibre optic network covered approximately 100,000 homes in the Klang Valley and Penang. This was achieved through fibre-to-the-home (FTTH), a broadband technology that employs optical fibres to supply high-speed internet and other digital services directly to individual buildings. Current speed plan offerings include 200Mbps, 600Mbps, 1Gbps[21] and 2Gbps packages.[22][23][24]
Time expanded its regional footprint in 2011, after the company’s minority shareholders approved a proposal to acquire four regional telecommunications companies valued at over RM322 million.[25] Among others, it acquired stakes in companies such as Global Transit companies, which invests in submarine cables, and AIMS Group, which owns data centres.[26] Time’s regional presence was further boosted through strategic investments in Vietnam's CMC[27][28] and Thailand's Symphony,[29] both telecommunications leaders in their respective markets.
In 2022, Time sold a 49% stake in AIMS Data Centre Business to US-based DigitalBridge Group to accelerate their data centre expansion plans across Asia.[30][31][32]
