Shah Alam, 15 April 2014 - TIME dotCom Berhad ("TIME" or "the Group") announced today its participation in a consortium to build a new submarine cable system that will link Asia and Europe via the Middle East, further enhancing its global footprint.
Together with 16 international service providers, TIME will 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, supporting burgeoning trade and economic linkages between the three continents.
Construction of the cable system is expected to commence in the second quarter of 2014 and TIME’s investment will see the Group secure 1.88Tbps of capacity in AAE-1 upon its targeted completion in 2016.
"This is a significant component of our global expansion plans," said TIME's Chief Executive Officer Afzal Abdul Rahim. "Our global network will span Europe, the Middle East, Asia, Japan and the United States."
With a length of 25,000 kilometres, the cable system connects Hong Kong, Vietnam, Cambodia, Malaysia, Thailand, Myanmar, India, Pakistan, Oman, UAE, Qatar, Yemen, Djibouti, Saudi Arabia, Egypt, Greece and France.
"Our investment in AAE-1 is strategic for a number of reasons," added Afzal. "It demonstrates our ongoing commitment towards improving connectivity between Malaysia and the rest of the world, and adds further resilience to our global networks."
TIME's existing submarine cable investments include a stake in the highly-sought after Unity Cable System that connects Japan and the US, and the Asia-Pacific Gateway (APG), that links Malaysia to Korea and Japan, expected to be completed next year.
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.