everyday morning consolidation, afternoon buying force coming. Hope today also the same.

so after today's consolidation, does your TA graph still look good? I'm still holding it though, but starts to sweat a little.

today power up again!

not an easy job to push up since profit taking was very heavy.
but it able to maintain good volume.

Another round of timecom rally has come.

I think our sungai besi financial city mega plan should benefit timecom in a huge way because their business is about networking infrastructure of financial institutions. So, finger cross!

Look back at KFC, that I never had a chance to be on board because I just don't know when will its price stop going up. And now, it's already up 141% from a year ago according to The Edge. I hope Timecom could be one of those high potential stocks. Besides, Timecom's potential definitely not limited to government projects. Its dominant fiber-optic networks in the country is a door to outside world, any outsiders need to pay them "toll fees" in order to connect to us.

Slept enough already it seems, engine is warming up now...

It's suspended! What up??

I don't get it. Because that means timecom has dumped its money into deep sea without any return. Was that the case?
Can you ask your remiser to explain why? Thank you!

Hope for the best. I'm holding it for now.

Now awaiting for some in depth comments from research houses.

hong leong paper.
TP remains at 0.89.

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Added on November 16, 2010, 12:34 pmThanks, but not complete leh. Hope can read entire article.


This post has been edited by yok70: Nov 16 2010, 12:34 PM


Attached File(s)
 TimeDotCom_Transforming.pdf ( 549.19k ) Number of downloads: 23

KUALA LUMPUR, Nov 15 (Bernama) -- Time dotCom Bhd (TdC) is set to transform into regional telcommunication player offering a full range of services upon completion of its proposed acquisition of three telecommunication companies for RM339 million.

The acquisition will be satisfied by RM90.9 million in cash and the remaining RM248.1 million via shares, said TdC chief executive officer Afzal Abdul Rahim.

The three companies to be acquired are AIMS Group for RM128 million, a leading network-neutral data centre, Global Transit Communications Sdn Bhd (GTC) (RM106 million), the region's leading wholesale Internet service backhaul provider and Global Transit Ltd (RM105 million).

These acquisitions will move TdC up the telco value chain, giving it part ownership in a cable system which is only one of five of its kind in Asia, he said.

According to Afzal, this is the most interesting thing to happen in TDC, and in line with its corporate plan to strengthen and expand further in 2011.

"The whole merger process will take six months to complete," he told reporters after a press conference to announce the company's corporate exercise here today.

He said as part of the exercise, TdC is proposing to restructure its capital by eliminating its accumulated losses and to carry out a capital reduction and share consolidation exercise.

Time dot.Com is also planning to make a cap repayment to shareholders totalling some RM50.6 million (which works out to two sen per share)while rationalising its balance sheet by writing off part of the share capital that is not represented by available assets.

Asked whether TdC would bid for the 4G spectrum, Afzal said: "We are not interested and will not take up the bidding."

TdC's acquisition of AIMS Group's data centre operations will allow it to have a platform to provide the infrastructure requirements of cloud computing service providers and the necessary skills to complement the services.

AIMS Group's data centre neutrality has also made it a strategic aggregation point for intra-Asian traffic and will continue to do so for the foreseeable future.

GTC is among a handful of licensees able to build and operate submarine cable landing stations in Malaysia, specialising in the wholesale market.

The company positions itself as an alternative regional gateway to the world, connecting major data centres and peering points around the globe.

-- BERNAMA

I think big selling from major investor (UEM, for our case here) doesn't just mean the company shares being sold is no good, it only means some corporate activities is happening. Axiata and Mahsing has been like this lately too. Switching of investors' shares, change of business model/strategy etc.

The 2nd article is actually quite positive on the proposal, no? Maybank said it's good time to buy at low now, and Hong Leong has positive perspective on the re-structuring? Correct me if I am wrong.

More reading:
http://www.theedgemalaysia.com/in-the-fina...nal-player.html


This post has been edited by yok70: Nov 21 2010, 06:47 PM

Good news! Hong Leong posted research paper today, maintain its buy call with TP 0.89.



Attached File(s)
 TimeDotCom_HL_22Nov2010.pdf ( 420.67k ) Number of downloads: 45

I also think it's holding well with so massive sell down. When contra players out, time to shoot up....(hopefully)

Good profit qtr report!



Attached File(s)
 TimeDotCom_3Q10Results_26_Nov_2010.pdf ( 156.14k ) Number of downloads: 35

Latest Hong Leong paper.
And below is an article from The Edge.

KUALA LUMPUR: Time dotCom Bhd (TdC) has extended its high-speed fibre connection to another 30,000 premises in a bid to expand its existing broadband subscription base of around 10,000 in the corporate and retail segment.

According to TdC CEO Afzal Abdul Rahim, the infrastructure provider will continue to wire up more premises within the Klang Valley with a rollout rate of connecting 20 to 30 buildings a month.

TdC first launched the high-speed fibre optic service in the Mont’Kiara area in February this year. So far, 200 buildings have been connected in Mont’Kiara and around the Golden Triangle area in Kuala Lumpur where 70% are commercial buildings and 30% residential. The next areas are Bangsar, Damansara, Shah Alam, Subang and Sunway, said Afzal.

As for subscription targets, he admitted that the market was highly competitive, and could only be assessed in the next six months.

“The take-up rate we saw at Mont’Kiara for brown fields [existing buildings] is 1% to 3% a month. For green fields [new buildings] it is 50% to 70%,” Afzal said after the company’s rebranding event yesterday.

In the high-speed fixed-line broadband space, incumbent Telekom Malaysia Bhd ™ has chalked up 21,000 Unifi subscribers, with another 8,000 firm orders for the High Speed Broadband (HSBB) since launching in March this year. As of Sept 30, TM has covered 700,000 premises. TdC and TM are the only two high-speed wired network owners in Malaysia.

Afzal said that TdC’s Cross Peninsular Cable System (CPCS) completed early this year is at 20% utilisation, mainly for wholesale of bandwidth to a mix of foreign and domestic operators.

The CPCS runs from Singapore to Thailand with a border-to-border capacity of 2.8 Tbps and has five fibre routes that cover Peninsular Malaysia. The CPCS serves as the backbone network for TdC’s broadband and data offerings.

He added that the current plan is to only install fibre connections in the Klang Valley for commercial and residential buildings and excludes landed property. Investments in these rollouts have been factored into the management’s capex guidance of RM100 million to RM150 million.

For the long term, Afzal said that the wholesale segment would be the main growth driver. For 3QFY10 ended Sept 30, TdC’s revenue rose 25% year-on-year (y-o-y) to RM87.34 million from RM69.93 million on higher revenue from the data business that offset the reduction in voice business. Data revenue made up RM67.4 million of the total RM87.34 million in revenue. Profit before tax surged 75.4% y-o-y to RM20.95 million from RM11.94 million due to its entry into the global bandwidth business.

The group recently proposed an acquisition of the Global Transit entities which own a 10% stake in the 9,620km Unity Cable System linking Asia to America with a landing point in Japan. If the deal goes through, Afzal said that TdC will have access to routes of more than 10,000km connecting Southeast Asia to the West.

However, the proposal draws criticism partly because it is related party transactions, as Afzal and COO Megat Hisham Hassan are directors of Megawisra Sdn Bhd. Afzal is the major shareholder in Megawisra with a 75% stake. Megawisra in turn, owns the majority of the companies to be acquired under the proposal.

Under the proposal, Megawisra and persons acting in concert have also asked for a waiver from undertaking a general offer on TdC if the acquisitions goes through.

Due to the lack of details and earnings visibility of the companies that TdC would acquire, some quarters have raised their eyebrow and calling the proposal a “bailout”.

Nonetheless, Afzal defended that shareholders would see in the coming months that the companies up for acquisition are in a growth stage and has a healthy balance sheet. TdC itself has turned around since 2008 and returned to the black in FY2009 ended Dec 31 after years of running losses.

According to Afzal, TdC is expected to hold an EGM in March next year to seek shareholder approval for its proposed purchase.

Afzal told TheEdge Financial Daily yesterday a shareholder circular would be out in February. Public Investment Bank is the appointed independent financial advisor.


This article appeared in The Edge Financial Daily, December 2, 2010.

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Added on December 3, 2010, 3:03 amMajor shareholders (copied from the latest Hong Leong paper)
Khazanah 34.4%
EPF 12.6%
ASB 9.8%
KWP 4.8%
Free Float 38.4%

Are you feeling more comfortable now?

This post has been edited by yok70: Dec 3 2010, 03:04 AM


Attached File(s)
 Tdc_101202312.pdf ( 505.96k ) Number of downloads: 21

Ya. However, we can't expect a businessman to be a saint too. Can we? The best we can expect is a win-win. So hopefully, it's a win-win.
One of the HL paper I read did mentioned that at least, Afzal didn't cash out, he re-invest all as shares holding.