TIME dotCom key beneficiary from WFH, cloud storage

UOB Kay Hian Research was positive on TIME dotCom's acquisition of the 60% stake in AVM Cloud.

KUALA LUMPUR: TIME dotCom is a key beneficiary of remote work environment and cloud storage and it is well positioned to capture rising demand within its retail, wholesale, enterprise and data centre segments, UOB Kay Hian Malaysia Research said.

In its research note on Friday, it maintained its Hold call on TIME with a discounted casflow based target price of RM13.50 implies 11.7 times 2021F enterprise value/earnings before interest, depreciation and amortisation (Ebitda).