TIME DOT COM BHD - POSITIVE GROWTH

Assignment on 29 January 2009

Shah Alam, 29 January 2009, Time dotCom Berhad (TdC's) expects to achieve 18 percent growth in sales revenue in 2009. 
 
The company's new Chief Executive Officer, Afzal Abdul Rahim said although it is an ambitious  target but nevertheless achievable.

"I think that, If we get it right this time, we hope to see a positive quarter this year & hopefully continuosly positive quarter beyond that. I understand that 2009 for us a year of rebuilding and renew , as long throw work to have to do before we take advantage. Again the company has tremendous amount of pontential", he said.
 
Afzal said the telecomunications service provider turnaround plan was aimed at positioning and upgrading current businesses that were relevant to TdC's revenue.
 
TdC has not been able to meet or surpass growth indicating that to turn the ailing company around the company needed a complete overhaul from the ground.
 
The company's revenue declined from 798 million ringgit in 2003 to 301 million ringgit in 2007.
 
Afzal, the new CEO who has instituted a number of changes in TdC including divesting its payphone business, was speaking to reporters after briefing the media on Time dotCom Bhd's  restructuring on Thursday.
 
He said TdC would focus on its more lucrative operations with greater growth potential which included its data service offerings in the wholesale, enterprise and corporate market segments.
 
Afzal said the new focus would allow TdC to optimise its existing infrastructure, which had been inefficiently deployed over the years.
 
TdC's restructuring would also include aggressive cost cutting measures and cost saving efforts such as a reassessment of its capital expenditure, freeze on recruitment and advertising.

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