KLSE (MYR): TIMECOM (5031)
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Last Price
5.07
Today's Change
+0.01 (0.20%)
Day's Change
5.03 - 5.11
Trading Volume
797,400
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Kristal
50 posts
Posted by Kristal > 2019-12-03 12:38 | Report Abuse
We believe fixed-line operatorsWe believe fixed-line operators such as TIME will likely get a BIGGERallocation from the RM21.6 billion National Fiberisation and Connectivity Plan, given its extensive nationwide fibre network. Consistent with the national initiatives, TIME is focusing on strengthening its existing domestic fibre network infrastructure and expanding its network coverage throughout Malaysia.
TIME will continue to work with its partners in Thailand, Vietnam and Cambodia to create a seamless regional telecoms network that will connect Indo-China to Malaysia and Singapore. It also intends to expand its data centre market presence regionally, and grow its customer base to include interconnected players from various industries.
We continue to like TIME for its strong growth profile, contributed by both its wholesale (domestic and international) and retail segments. Despite the recent reduction in pricing, the company is still executing well in the domestic fixed broadband market, and we believe it is poised to gain a meaningful market share in the medium to long term. We maintain a “buy” recommendation with an unchanged discounted cash flow-based TP of RM10.70. TIME is trading at an attractive valuation of 15.7 times FY20 price-earnings ratio (-1SD [standard deviation] below the mean) and has a strong balance sheet to support its network expansion. — AllianceDBS Research, Dec 2 such as TIME will likely get a bigger allocation from the RM21.6 billion National Fiberisation and Connectivity Plan, given its extensive nationwide fibre network. Consistent with the national initiatives, TIME is focusing on strengthening its existing domestic fibre network infrastructure and expanding its network coverage throughout Malaysia.
TIME will continue to work with its partners in Thailand, Vietnam and Cambodia to create a seamless regional telecoms network that will connect Indo-China to Malaysia and Singapore. It also intends to expand its data centre market presence regionally, and grow its customer base to include interconnected players from various industries.
We continue to like TIME for its strong growth profile, contributed by both its wholesale (domestic and international) and retail segments. Despite the recent reduction in pricing, the company is still executing well in the domestic fixed broadband market, and we believe it is poised to gain a meaningful market share in the medium to long term. We maintain a “buy” recommendation with an unchanged discounted cash flow-based TP of RM10.70. TIME is trading at an attractive valuation of 15.7 times FY20 price-earnings ratio (-1SD [standard deviation] below the mean) and has a strong balance sheet to support its network expansion. — AllianceDBS Research, Dec 2