Time dotCom Bhd experienced a significant increase in net profit during the second quarter ending on June 30, 2023. The company’s earnings rose to RM2.264 billion, marking a surge from the RM118.28 million recorded in the corresponding quarter of the previous year. This growth can be attributed to the favourable outcomes stemming from the operations of the AIMS Data Centre business.
Time dotCom Bhd, in a filing with Bursa Malaysia, stated that the profit generated as a result of concluding a strategic partnership linked to AIMS amounted to RM2.262 billion.
In April, Time dotCom Bhd announced the completion of its transaction with funds affiliated with DigitalBridge Group, Inc. for a strategic partnership that is intended to accelerate the expansion of its AIMS Group (“AIMS”) data centre business across Asia.
In May, AIMS Group announced the construction of AIMS Cyberjaya Block 2 to meet the overwhelming demand for data center space in Malaysia. AIMS is collaborating with Gamuda Engineering Sdn Bhd (“Gamuda”) to construct AIMS Cyberjaya Block 2, a turnkey project featuring a purpose-built data center with improved efficiency and building structure, and a total IT load of 8MW.
Analysts anticipate that Malaysia will become a major Asian hub for data centers, with supportive pro-business policies to attract and retain data center investors. With this, businesses in Malaysia are expected to witness a significant influx of approximately US$2.25 billion (RM10.2b) in investments directed towards local data centers by 2028.
Earlier this year, AirTrunk announced its entry into the country with plans to develop a 150+MW data center which will be the company’s first in Malaysia and ninth in APJ, taking its data center platform to over 1.35GW of capacity.
Additionally, Gaw Capital Partners and A3 Capital formed a joint venture platform with the launch of the first Infinaxis data center in the country. In a similar development, MN Holdings Bhd partnered with China’s Shanghai DC-Science Co Ltd to work together on building a high performance data center in Malaysia with the project being valued at an estimated US$600m.
There are over 20 data centers in the country. With Cyberjaya and Johor positioned as known hubs in Malaysia, there are also new locations being identified by data center players such as Kedah where connectivity and power are among key considerations.
