The stock jumped as much as 53 sen or 11% to RM5.30 this morning, its highest since July this year.
At the time of writing, it was trading 10% higher at RM5.25, with 11.4 million shares changing hands. At this price, the internet service provider is valued at RM9.73 billion.
In a bourse filing yesterday, Time announced a special dividend of 21.64 sen per share, payable to entitled shareholders on Dec 22.
Net profit for the third quarter ended Sept 30 (Q3 FY2025) rose nearly 81% to RM106.15 million from RM58.7 million a year ago on higher revenue and lower currency loss. Quarterly revenue was up 7% to RM453.76 million from data, cloud and other services.
It booked a lower net foreign exchange loss of RM4.7 million in Q3 compared to RM68.9 million last year.
For its first nine months, net profit increased 21% to RM323.77 million from RM268.42 million last year while revenue was nearly 5% higher at RM1.33 billion.
“We saw a bump in profitability this period thanks to some prudent cost management initiatives,” said group CEO Loh Jenkim in a statement.
“While it’s good news, we are cognisant that this lift isn’t permanent, with the operating landscape continuing to remain competitive and dynamic,” she added.
Several research houses have up upgraded their calls on the prospects of higher cash distribution to shareholders moving forward.
“This upgrade is driven by clearer visibility on capital management, which, in our view, unlocks meaningful upside to shareholder returns via additional special dividends and a higher annual payout ratio,” said Hong Leong Investment Bank in a note today.
The consensus among research houses is a dividend of 27 sen per share for the whole of 2025, more than double the payout last year.
Headquartered in Shah Alam, Time’s services include high-speed fibre optic internet for consumers and businesses, data centre services, and cloud solutions. It also has international reach through investments in subsea cable systems.
Time’s largest shareholder is Afzal Abdul Rahim, 47, who was redesignated as executive vice-chairman from group CEO in September 2025.
He holds a direct stake of 0.77% and an indirect 22.35% as of July this year through Pulau Kapas Ventures Sdn Bhd, Global Transit International Sdn Bhd, and Megawisra Investments Ltd.
Other substantial shareholders include government-owned funds Khazanah Nasional Bhd, Employees Provident Fund (EPF) and Kumpulan Wang Persaraan (KWAP).