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aws账号(www.2km.me)_Time poised for expansion with purchase of building

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Hong Leong Investment Bank Research (HLIB) viewed the proposed purchase positively. The research house said it would allow Time’s Menara AIMS to expand as it is currently running at 98% capacity utilisation on the back of robust demand.

PETALING JAYA: The purchase of a 13-storey building by TIME Dotcom Bhd (Time) will allow it to capitalise on the demand boom in data and data centres and cloud business, among others.

Notably, the group has been running out of space due to exponential growth in the past.

With the rise in the digitalisation trend, it will need more capacity to cater for future growth.

The purchase price of RM62mil for the building came as no surprise to analysts given its location in the city and being diagonally opposite the group’s own Menara AIMS.

Hong Leong Investment Bank Research (HLIB) viewed the proposed purchase positively.

The research house said it would allow Time’s Menara AIMS to expand as it is currently running at 98% capacity utilisation on the back of robust demand.

It added that the price is within the range appraised and it will be funded via internally-generated funds.

The market has also responded positively to the announcement given that the counter closed up seven sen, or 1.6%, to RM4.45 yesterday.

On Tuesday, Time announced that AIMS Data Centre Sdn Bhd, its wholly owned subsidiary, is buying the building (Bangunan KWSP) from Lembaga Kumpulan Wang Simpanan Pekerja for RM62mil in cash. The purpose-built office building comes with 95 car park bays.

The building’s location would greatly ease operations and logistics and enable TDC to increase space for expansion of its operational facilities. Besides the data centre, TDC also plans to house its supporting services in this building. TDC’s early expectation is to have the first phase of Bangunan KWSP ready for service by the end of 2023.

Earlier, it had said it would strengthen its strategic position in the cloud and data centre space and keep an eye out for opportunities to fortify its long-term growth plans.

HLIB maintained its “buy’’ call on the stock with a target price of RM5.61 a share.

It liked Time as its retail business is gaining momentum on the back of reach expansion and undisputable high value products.

It added that the data centre is expanding resiliently as information technology outsourcing, cloud computing and virtualisation are widely adopted.

For the first nine months of 2021, Time’s net profit rose 21% to RM284mil from RM233mil in the previous corresponding period. Revenue rose to RM1.03bil from RM908mil.


转载说明:本文转载自Sunbet。

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