Highlights
KLSE: TIMECOM (5031)       TIME DOTCOM BHD MAIN : Infrastructure
Last Price Today's Change   Day's Range   Trading Volume
8.13   -0.07 (0.85%)  8.10 - 8.16  74,100
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Overview

Market Cap: 4,745 Million
NOSH: 584 Million
Avg Volume (4 weeks):254,400
4 Weeks Range:7.97 - 8.40
4 Weeks Price Volatility (%):
37.21%
52 Weeks Range:7.06 - 9.90
52 Weeks Price Volatility (%):
37.68%
Average Price Target: 9.83
Price Target Upside/Downside: +1.70

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2018 [#1]  |  31-May-2018
Next QR | Est. Ann. Date: 30-Jun-2018  |  28-Aug-2018
T4Q P/E | EY: 25.61  |  3.90%
T4Q DY | Payout %: 2.11%  |  53.99%
T4Q NAPS | P/NAPS: 3.9055  |  2.08
T4Q NP Margin | ROE: 21.22%  |  8.13%

Headlines

Date Subject
04-Aug-2018 Wiring up a wider population
03-Aug-2018 Opening up fibre market; fixed-line broadband for all telecos
31-Jul-2018 上升股:时光网络阻力RM8.60
26-Jun-2018 Telecommunications - Boon for Wireless and Bane for Wired
05-Jun-2018 时光网络3年财测上修
04-Jun-2018 上升股:时光网络阻力RM8.40
04-Jun-2018 TIME dotCom - 1Q18 Analyst Briefing
04-Jun-2018 Mplus Market Pulse - 4 Jun 2018
04-Jun-2018 PublicInvest Research Headlines - 4 Jun 2018
01-Jun-2018 TIMEdotCom - A strong start
01-Jun-2018 TIME dotCom - 1Q18 results above expectations
27-Feb-2018 TIMEdotCom - An encouraging performance
27-Feb-2018 Time DotCom - FY17 Results Above Expectation
29-Dec-2017 (CHOIVO CAPITAL) An analysis of TIME dotCom Berhad (“TIME”)
27-Nov-2017 TIMEdotCom - Margin pressures setting in
27-Nov-2017 Mplus Market Pulse - 27 Nov 2017
27-Nov-2017 Time DotCom - 9M17 Results Below Expectations
29-Aug-2017 Time DotCom - 1H17 Results Below Expectations
28-Aug-2017 TIME DotCom - IRU Sales Taper

Business Background

Time Dotcom Bhd is a telecommunications company that offers fixed-line and enterprise services, including data (broadband and wireless), voice, and data center services, where the majority of revenue comes from. The company divides its customer base into three segments: wholesale, retail, and enterprise. Retail and enterprise deal with households and companies, respectively. The wholesale segment provides backhaul services to Asia-Pacific and Malaysian telecommunication companies. This is enabled through the company's ownership of telecommunications infrastructure, specifically a fiber-optic cable network.
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  5 people like this.
 
omgimnoob Hahahaha nowadays investors are so smart!
26/06/2018 15:37
Jon Choivo You have clearly never used a 100mb+ line before.

===========================================================================
PiddleMinger the average internet user won't need 100mbps, let alone 200mbps. what they want is cheaper packages.

Time's earnings would be affected by the new ruling and the PE would surge even higher.
26/06/2018 15:25
26/06/2018 17:29
Jon Choivo You think the average internet user is some makcik who dont know how to youtube?

Even my parents now start to netflix and youtube. 1080p movies need 8mb to 12 mb per second. 4k needs 45-80mb per second.

And if its a family, even more. Not even count torrent.

This is one of those scenarios where the demand will grow to fill the supply. Imagine those people who keep terabytes of data in the cloud.

Yeah, would suck if the price of the stock drops. Its 26% of my portfolio. But that would also present an invaluable chance to buy more.

Im waiting for RM6.

When MCMC wanted to implement Mandatory Standard on Access Pricing (MSAP), it was TM who complained, not timecom.

Double the speed? Timecom is 10 times the speed of TM at the same price.

Using Pakatan Manifesto, double the speed at half the price. Assume TM force to ikut bulat bulat, that is 20MB at RM75 (Cheapest TM plan now 10MB, RM149). That means, 100MB at RM375!

Timecom is 60% cheaper already, compared to TM. Even when compare to TM most expensive plan, 100MB, RM329. Timecom is still 55% cheaper.

The sheer cheapness of Timecom's service means, they wont be affected. That's margin of safety for you.

Best product for the lowest price.




======================================================================
Posted by PiddleMinger > Jun 26, 2018 03:25 PM | Report Abuse

the average internet user won't need 100mbps, let alone 200mbps. what they want is cheaper packages.

Time's earnings would be affected by the new ruling and the PE would surge even higher.
26/06/2018 17:53
PiddleMinger yes, captain obvious. Time's package is definitely the cheapest when you compare price per mbps. But dont u think many would subscribe to TM if they offer a low price package eg RM 75 for 20mbps?

The average user would use the internet for surfing, fb and maybe some youtube. Not for HD streaming, gaming, etc. And you've not considered the competition from other telcos. Time is not cheap currently. I'll be keeping this in my watchlist.
26/06/2018 18:16
Jon Choivo https://klse.i3investor.com/blogs/PilosopoCapital/142735.jsp

I did, a long time ago. Unlike you, i do my research properly.

If i sell wagyu beef for RM20, sure alot will want also lah. Problem is, can TM afford to? Their margin only 7.7%.

If you can afford to stay in a condo that have TIMECOM, am i going to stinge on the internet, when i can have 5 times the speed at just double the price?

How about you try using 100mb per sec for a week, and then try to go back to TM. :)

In addition, its not a matter of if you want to buy TIME, its if TIME wants to sell to you. They go where the demand for their product is the highest, ie condo's.

You need to request for your area to have TIME, and if the request is high enough, only they will connect. That's how high the demand is.

==============================================================================================================
PiddleMinger yes, captain obvious. Time's package is definitely the cheapest when you compare price per mbps. But dont u think many would subscribe to TM if they offer a low price package eg RM 75 for 20mbps?

The average user would use the internet for surfing, fb and maybe some youtube. Not for HD streaming, gaming, etc. And you've not considered the competition from other telcos. Time is not cheap currently. I'll be keeping this in my watchlist.
26/06/2018 18:16
26/06/2018 18:57
4444 BN kalah, many ctrs suffer.
27/06/2018 04:35
signalmw why time com not drop like TM. also a broadbamd provider
28/06/2018 10:12
apolloang EPF cornered this stock,otherwise worth around 5
28/06/2018 10:14
PiddleMinger Epf are the masters of buying high, sell low.
But they've the means to buy back even lower. Wouldn't be too concerned what epf is doing. TM looks like a bargain compared to Time.
28/06/2018 11:05
Jon Choivo Its easy to say that with derision. But if that were true, they would have given negative dividends by now, that is clearly not the case.

In addition, do note that EPF also lets other run parts of its funds. So its not necessarily purchased by EPF per say.

===========================================================================
PiddleMinger Epf are the masters of buying high, sell low.
But they've the means to buy back even lower. Wouldn't be too concerned what epf is doing. TM looks like a bargain compared to Time.
28/06/2018 11:05
28/06/2018 18:41
Jon Choivo I think its worth about 9 today, but 10 by the mid of next year. Given its highly resilient growth, moat and strong demand.

===========================================================================
apolloang EPF cornered this stock,otherwise worth around 5
28/06/2018 10:14
28/06/2018 18:42
apolloang 9 or 10 u sendiri beli,me will avoid this stock cos overvalued
28/06/2018 18:52
Jon Choivo What's your thesis for that?

===========================================================================
apolloang 9 or 10 u sendiri beli,me will avoid this stock cos overvalued
28/06/2018 18:52
29/06/2018 12:43
Fabien Extraordinaire @Jon, TM looks interesting now
06/07/2018 19:36
KKKS As you can see EPF & KWAP has been acquiring earlier and disposing lately.. From the Annual Report, khazanah directly owns 11% of the company and indirectly-30%(i could be wrong)... Since TM will drop their broadband price further and how would TDC able to react?.. Long term will they willing to drop their 100Mbps package below RM100? And furthermore MCMC is in the picture to regulate further on the infra regulation? who knows...That is the question..
06/07/2018 20:10
KKKS If there is a change in khazanah direction. Will TDC have the same impact?
06/07/2018 20:13
PanjiAlam55 TDC will kaput looo
06/07/2018 21:34
KKKS wah jialat.. I run this time..for once
06/07/2018 21:44
jibbie interesting articles jon. time not bad. epf disposing but price still steady.
09/07/2018 16:39
Jon Choivo My cost is 9.3 haha.

I cant buy, as the size in my portfolio is quite large, and i think they are better investments around, but im keeping a very close eye
10/07/2018 16:18
PiddleMinger Unifi's plans are now cheaper than Time for the same speed. Time is overvalued at this price
12/07/2018 16:30
Outliar Which plan are you referring to? RM79 for 60GB?
12/07/2018 16:32
PiddleMinger Unifi plans have been upgraded. 30Mbps upgraded to 300 Mbps, those 20 Mbps&below upgraded to 100 Mbps.
12/07/2018 17:30
Hoi App time pls go back la... sure lose to tm... rent a fixed line from tm still want compete tm?
14/07/2018 12:18
Jon Choivo Time does not rent a fixed line, they built their own line.

The upgrades are a plan, and plans take time to execute. Timecom first spoke about doing high speed fibre on 2010. Only in 2013 did the core fibre backbone.

You want to 10x the speed? if TM could do it previously, they would have, but they couldn't.

Having said that TM, looks ok-ish given the fall in price..
14/07/2018 19:12
Hoi App Latest price war: 

Unifi 
100Mbp-RM129 
300Mbp-RM179 
500Mbp-RM199 
800Mbp-RM329 

TIME 
100Mbp-RM149 
300Mbp-RM189 
500Mbp-RM299 

Maxis 
10Mbp-RM119 
30Mbp-RM139 
50Mbp-RM219 
100Mbp-RM 299 

Which one to choose??? wakakakakakakakakakakaka
17/07/2018 23:04
apolloang yeah why time no kurang harga? better change to uni-fi
17/07/2018 23:09
Hoi App Update:

For Streamyx users, some 340,000 existing customers (within Unifi coverage) will be encouraged to upgrade to Unifi.

Another 350,000 Streamyx customers who are not within Unifi coverage areas are targeted to enjoy double speed upgrade.

TM has close to 1 million #Streamyx customers at the moment.
17/07/2018 23:17
hollandking ok for whatever package TM will be offering u guys, make sure you ask them, what will happened to your phone line. There are some who don't care, some will, bcoz with from what i understand, there are streamyx package that have free local and national call, meaning u can call as much as you want provided is land line connect to land line and not to mobile phone.

Ask
any data quota,
what is the speed,
pricing double confirmed down, same or up.
any charges.
17/07/2018 23:47
PiddleMinger The price war between the telcos only benefit the customers. If Time doesnt adjust their package, they will face a tough time growing their customer base. As it is, they don't have penetration to landed homes. Their earnings will take a hit.
18/07/2018 08:57
Kristal Blog: (CHOIVO CAPITAL) An analysis of TIME dotCom Berhad (“TIME”)

Jul 17, 2018 06:01 PM | Report Abuse

Re-gear it.

Lets say TM

ROE:11.32%

Equity/(Equity Net Debt) ratio:
= 7,435.8/(7,435.8 6,587.1)
= 0.53

Re-geared ROE: 6%


TIMECOM

ROE: 8.13%

Equity/(Equity Net Debt) ratio:
= 2,278,327/(2,278,327-74,465)
= 1.03

Re-geared ROE: 8.4%
18/07/2018 16:40
Hoi App time rent infras from tm to do business.
imagine one day tm dont rent it... time will have today share price?
time are over value now.
18/07/2018 20:47
Jon Choivo I must say, i wonder how the hell is TM going to meet its promise to 10X the speed without increasing the price.

If they could do it all the while, why didn't they do it before. What is the cost they are going to incur?

I wonder what TIMECOM's reply will be. I'm waiting for that one.

Let me say it again, clearly, TIME DOES NOT RENT ANY INFRA FROM TM. They have their own.
18/07/2018 21:54
jibbie anyone can explain what this means? notice this in bursa announcements..

Award of Shares under TIME dotCom Berhad's Share Grant Plan

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5858417
18/07/2018 22:33
PanjiAlam55 If they hv their own infra then how thier customer can call to customers in Kota Baru, Alor Star and Perlis if they not used TM infra in POI (Point Of Interconnects) TIME dun have any Exchange or Remote there to served those customers.
18/07/2018 23:00
Jon Choivo Don't get what you mean.

Jibbie, small issue, ESOS basically
18/07/2018 23:18
Jon Choivo Just so everyone is clear,

Im willing to share about this company as the stock is really not cheap to begin with. Right now, it is at best, slightly below fair value. But its long term prospects and moat is fantastic.
18/07/2018 23:24
apolloang why time still RM 149 for 100mb? should lower to RM 79 to attract more customers
18/07/2018 23:27
Jon Choivo They have all the customers they need. Its the supply that's the problem, not demand.

Retail grew 85% YOY.
18/07/2018 23:33
apolloang maybe many will switch to UniFi
18/07/2018 23:44
Jon Choivo True. Only if unifi can really fulfill that 10x speed quickly. But not sure how they will do it though.
19/07/2018 11:11
Hoi App 如TM之前承诺的Unifi与Streamyx特定用户将得到免费升级,今天(7月18日)可以开始在TM的网站查询是否符合资格了,但是必须注意的事免费升级是分阶段的。 
Unifi用户升级: 
少过20Mbps–> 100Mbps 
30Mbps–> 300Mbps (RM179) 
50Mbps–> 500Mbps (RM199) 
100Mbps–>800Mbps (RM329)
20/07/2018 14:38
jibbie the ESOS will dilute the existing shareholder's holdings rite?
20/07/2018 17:38
KKKS Yes supply is the problem, with the current TM package, it will a slow death for them. Unless they evolve....With regional expansion , it will be struggle them to meet EBITBA Positive next year..
23/07/2018 00:34
Jon Choivo cancellation of the NFP between tnb and tm is a pretty good thing for Time, now, they have the chance to work with TNB. Lets see.
24/07/2018 18:35
100005827200915 To participate in a new market segment, the landed properties ? Not just high rise
25/07/2018 19:07
PiddleMinger Entire khazanah boards resigns. This might cause uncertainty among foreign investors.
26/07/2018 11:52
Kristal KUALA LUMPUR, Aug 1 — The Communications and Multimedia Ministry plans to formulate a bill to make compulsory for all new housing projects to be installed with Internet facility.

Its minister, Gobind Singh Deo said through the proposed Bill, the Internet facility would be categorised as a utility, just like electricity and water supply at home.

“If (Internet) it becomes a ‘basic human right’, it can be categorised as a utility  there’ll be a need for all houses to be connected with fibre,” he said when winding up the debate on the motion of thanks for the Yang di-Pertuan Agong’s speech on behalf of his ministry in the Dewan Rakyat today.

He said this in response to a suggestion by Datuk Seri Dr Ismail Mohamed Said (BN-Kuala Krau) to make compulsory for developers to install broadband facility at their housing projects.

Expressing importance of Internet access, Gobind Singh said he hoped the proposed Bill would get the full support from the house when tabled.
02/08/2018 14:34
Kristal https://www.thestar.com.my/business/business-news/2018/08/03/opening-up-fibre-market
03/08/2018 11:25
J For Janice yes,its about TIME to break TM monopoly!
03/08/2018 11:27


 

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