Time Engineering's Claw Back: TIME Fibre Broadband

TIME dotCom Bhd (TdC),the fixed-line telecommunications solution provider, expects to retain positive growth, particularly with the launch of its new service, TIME Fibre Broadband, said its chief executive officer Afzal Abdul Rahim today.

The company posted RM24.454 million in pre-tax profit in the second quarter ended June 30, 2009 on the back of RM67.898 million in revenue, springing the company into 'the black' for the first time in 14 years.

It also recorded RM11.941 million pre-tax profit in the third quarter ended Sept 30, 2009, raking in RM69.931 million in revenue.

“We see this momentum continuing especially with the launch of the product today,” he said at the “TIME Fibre Broadband” launch.

Afzal said the company would continue to drive sales and increase market share in areas like wholesale, corporate and small-and-medium enterprises.

“We’ll be rolling out more exciting and innovative products in the wholesale and business market segments,” he said.

Afzal said TdC was planning to extend by 85 per cent its fibre broadband coverage in high-density Klang Valley in the second quarter next year.

Its latest service, TIME Fibre Broadband, a high-speed Internet access, offers users at a speed of up to 50 megabits per second currently available in Mont Kiara area.

“We’re looking into expanding the service to other areas under the second and third phases, with more locations undergoing testing and slated for installation of the service,” he said.

Afzal said TdC targeted between 15 and 20 per cent of potential customer base for area in coverage.

He said TIME Fibre Broadband is targeted at young professionals, high bandwidth users and early adopters who are constantly blogging, gaming, social networking and downloading.

“The service is for internet users craving for fastest internet connection without being hindered by slow and unreliable connection speed,” he said.

TIME Fibre Broadband is being offered at competitive rates ranging from RM149 to RM329 for 2Mbps to 10Mbps service package, Afzal said, adding that customers will be able to experience a boost speed of up to 50mbps on demand.

Do you think this could impact positively on Time Engineering and Time dotCom. share prices?

Malaysia: Another Aye Sayer for Property Boom in 2010

Yes, they are slowly coming out to support the possibility of a good property market this year. However, there are caveats.

In its report today, Bernama quoted the comments of MIDF Amanah Investment Bank Bhd. This investment bank is the latest aye-sayer to tell us that the residential property market is expected to thrive this year as it rides on the surge in demand, particularly in the medium-high segment.

Although new property launches in key cities like Kuala Lumpur, Johor Baru and Penang had been less encouraging lately, the expected stronger economy this year should see the launches of previously delayed projects.

“Our survey with key developers shows purchasing interest remained high with take-up rates of new projects at an average of 70 per cent just from private previews or first few days of the launch,” it said in its research note.

Despite signs of sectoral revival, it said the property sector still lacked foreign participation to drive its marketability.

More measures are needed to secure foreign participation apart from the present tax incentives and MSC-status benefits, said the investment bank.

As for property sector, MIDF Amanah Investment Bank maintained a “neutral” call as it expects property sales to undergo a minor correction when Bank Negara Malaysia begins to tighten monetary policy and foreign funds start withdrawing should the economic recovery lose its momentum.

“However, we believe local investors will cushion the downside as property buyers will seize any buying opportunity. We continue to favour counters with exposure to the mid-to-high-end residential market and industrial developments,” said the investment bank.

It said medium and high-end properties benefited from an economic recovery as consumer purchasing power increased, participation in small-and medium-scale property sector also increased from business expansion. Residential sector remained a favourite for hedging purposes, it added.

With the ringgit losing value with each passing month, there is definitely a scramble to convert liquid cash into hard property deals as well as foreign currency accounts.

Whatever happened to our once mighty ringgit?

An answer, please.