Temasek’s ST Telemedia said to be among potential bidders for Time Dotcom’s data centres

KUALA LUMPUR (BLOOMBERG) – Temasek’s ST Telemedia Globe Data Centres and US-based investors DigitalBridge Group, I Squared Capital-owned BDx and Equinix are among potential suitors for the data centre business of Malaysia’s Time Dotcom, according to sources familiar with the matter.

The suitors are conducting due diligence on the assets, known as Aims Data Centre, as they weigh making binding offers, the people said.

A potential deal for Aims could raise about US$500 million (S$694 million) to US$600 million, Bloomberg News has reported.

Considerations are ongoing and the firms could still decide against any transaction, the people said. Representatives for Time Dotcom, DigitalBridge, Equinix and STT GDC declined to comment. Malaysia is a potential future location for facilities as the company looks to expand its footprint across Asia, said BDx chief executive Braham Singh, in response to a query from Bloomberg News.

Data centre companies in Asia have been attracting strong takeover interest, in part due to the perception they have stable returns and expectations of ongoing growth as people increasingly rely on technology.

Backed by Malaysia’s sovereign wealth fund Khazanah Nasional, Time Dotcom offers fixed-line voice and broadband services to consumers and businesses, as well as enterprise solutions in areas such as cloud and security. Beyond Malaysia, it has stakes in providers in Vietnam and Thailand, according to its latest annual report.

Its shares have dropped about 5 per cent this year, valuing the firm at around US$1.8 billion.