Latest news with #RM4.98
New Straits Times
13-06-2025
- Business
- New Straits Times
Time Dotcom's retail broadband now largest revenue driver, says HLIB
KUALA LUMPUR: Time Dotcom Bhd's retail broadband segment has become its largest revenue contributor, making up 38 per cent of the company's total earnings, Hong Leong Investment Bank (HLIB) said. As of end-2024, Time's fibre network had reached 1.77 million premises, representing 20 per cent of nationwide coverage, and was serving 479,000 active subscribers, with an average monthly revenue per user (ARPU) of RM115. "This figure puts Time in the number three market position with a 10 per cent share. "The strength of Times's retail franchise is best demonstrated by its ability to generate net adds in line with, or ahead of, its peers despite more limited coverage," it said. According to HLIB, the company aims to grow its presence by connecting 200,000 to 300,000 new premises each year, with a growing emphasis on single-dwelling units, which now make up half of all new network deployments. This strategy is expected to support strong net subscriber growth and keep the company ahead of the industry's expansion rate. HLIB also noted that reliable connectivity continues to be essential for the enterprise market. "As such, Time market share has room for growth as it continues to expand its network coverage. "For instance, it has recently secured a government contract to connect public universities across the country, which somewhat serves as a validation that its network coverage is catching up to Telekom Malaysia Bhd," it adds. HLIB noted that although Time's newly launched solar segment currently contributes less than one per cent to revenue, it is intended to create a stable, utility-like recurring income stream. Management estimates the existing target market consists of about 300,000 households with monthly electricity bills over RM500, a figure that could potentially grow to 1 million homes if government energy subsidies are scaled back in the future. HLIB has reiterated its 'Hold' call on the company with an unchanged target price of RM4.98. "We like Time, as its retail segment is gaining momentum on the back of network reach expansion and undisputed high-value products. "Its wholesale and enterprise segments are also benefiting from rising demand for data centres, cloud computing, and IT outsourcing," it adds.
New Straits Times
01-05-2025
- Business
- New Straits Times
AmanahRaya REIT embarks on transformation for long-term growth
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) is undergoing a comprehensive strategic transformation process to strengthen the foundation for the company's long-term and sustainable growth. In a statement, the company said this reflects its continuous emphasis on strong financial governance, precision in reporting, and alignment with regulatory best practices. It added that over the past year, AmanahRaya-Kenedix REIT Manager Sdn Bhd (AKRM), the manager of ARREIT, has embarked on a strategic transformation journey aimed at building a stronger foundation for sustainable growth. This transformation is guided by five key initiatives focused on enhancing governance, sustainable business growth, people, systems and financial management. ARREIT said while these efforts are already beginning to reshape the organisation positively, the interim transition phase has had an impact on its financial performance for 2024 (FY24) — a necessary step in delivering long-term value to stakeholders. AKRM managing director Mohd Iskandar Dzulkarnain said the company remains focused on enhancing asset performance and driving operational productivity across our portfolio. "Our commitment is to continuously improve value creation for our unitholders through proactive asset management, sustainable initiatives, and operational excellence," he noted. He added that ARREIT remains financially resilient, supported by a diversified portfolio, proactive tenant engagement, and ongoing asset enhancement initiatives aimed at ensuring sustainable returns for its stakeholders. In pursuance of paragraph 9.19(35) of the Main Market Listing Requirements of Bursa Malaysia, the board of directors of AKRM has issued this clarification following a variance of more than 10 per cent between the unaudited and audited profit after tax figures. The deviation arose as part of the audit finalisation process. For the financial year ended Dec 31, 2024, ARREIT reported a profit after tax of RM1.80 million in the audited financial statements, compared to RM4.98 million in the unaudited results announced on Feb 28, 2025. The variance of RM3.18 million arose from technical adjustments identified and applied during the audit finalisation, in keeping with Malaysian Financial Reporting Standards.
