Shah Alam, 11 August 2014 - TIME dotCom Berhad (“TIME” or “the Group”) today announced that it has invested in its second Trans-Pacific submarine cable system that will connect Asia and North America in support of its global expansion initiatives.
Its investment in the FASTER cable system (FASTER) is the Group’s second submarine cable project in partnership with Google and other investors, and builds on the strength and success of its previous investment in the Unity Cable System (Unity).
“When we first invested in Unity in February 2008, I didn’t think we’d so quickly be in the position where the demand would so steeply outstrip supply” said TIME’s Chief Executive Officer, Afzal Abdul Rahim. “I am glad that we are able to supplement our existing Trans-Pacific capacity and add resilience to our global network on such an important route as the Trans-Pacific segment”.
FASTER: TIME’s second submarine cable project in partnership with Google will provide the Group with additional capacity to meet intensifying demand along the Trans-Pacific route.
FASTER is also expected to extend the Group’s intra-Asia capacity when the Asia Pacific Gateway (APG) cable system, in which it owns a stake, is completed. The APG will link the high-growth ASEAN region to Japan and beyond, to the United States.
TIME’s participation in the FASTER cable system comes just four months after it announced that it had joined a consortium to construct and maintain the Asia-Africa-Europe-1 (AAE-1) submarine cable system, a high-capacity cable system linking Asia and Europe via the Middle East.
“Our participation in FASTER marks another major milestone for the TIME Group’s Asia-World-Asia strategy”, added Afzal.
Together with five well-established global service providers, TIME, through its wholly owned Global Transit 2 Limited (GT2L) subsidiary, will construct and maintain FASTER, an approximately 9,000 kilometre-long cable system linking Japan and North America.
FASTER will feature an initial design capacity of 60Tbps and the Group’s investment will see it secure one dedicated fibre pair capable of carrying 10Tbps of capacity with the current 100Gbps technology.
TIME is joined by China Mobile International, China Telecom Global, Google, KDDI and SingTel as partners in FASTER.
The FASTER cable system is targeted for completion in the second quarter of 2016.
This press release contains forward-looking statements that reflect the current views of TIME dotCom Berhad (TIME) management with respect to future events. The words "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "project", "should" and similar expressions including all statements that are not historical facts are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond TIME's control, including, without limitation, general industry and economic conditions, competition from other companies and avenues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, governmental policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed on them. TIME does not intend or assume any obligation to update these forward-looking statements.
About TIME dotCom Berhad
Founded in 1996, TIME dotCom Berhad (TIME) is a data-centric telecommunications and solutions provider in Malaysia with a business reach across the Asia-Pacific. TIME has expanded beyond its core Malaysian fixed-line business to incorporate two fast growing subsidiaries: the Global Transit Group of Companies (GT) offering regional bandwidth services and the AIMS Group of Companies (AIMS), an award-winning, carrier-neutral data centre provider. Combined, the TIME Group can now offer customers complete land and subsea fibre network solutions and value-added services that tap booming ASEAN demand for fast, reliable bandwidth. TIME is a public company listed on the Main Market of Bursa Malaysia since 2001. Visit www.time.com.my for more information.