KUALA LUMPUR (April 10): Khazanah Nasional Bhd has disposed of its 3.13% stake, or 57.9 million shares, in TIME dotCom Bhd (KL:TIMECOM), whose share price reached an all-time high of RM6.28 a month ago.

However, TIME did not disclose the proceeds raised by the sovereign wealth fund from the share sale in its bourse filing.

The shares were transacted on Wednesday (April 8), with Bloomberg’s off-market data indicating that large blocks were traded at RM5.80, suggesting the stake sold by Khazanah could have been worth as much as RM335.82 million.

The block was sold at a 7.6% discount to TIME’s record closing price of RM6.28 on March 11.

Following the disposal, Khazanah retains an approximately 10.04% stake in TIME, mainly held via its investment vehicle Pulau Kapas Ventures Sdn Bhd.

Khazanah has been paring its stake via large block sales from 2023 to 2025, including the disposal of 131.15 million TIME shares in 2025.

TIME executive vice-chairman Afzal Abdul Rahim remains the group’s largest shareholder, with a 20.36% deemed interest comprising a 10.09% direct stake and a 10.27% indirect stake via Megawisra Sdn Bhd and Global Transit International Sdn Bhd.

For the financial year ended Dec 31, 2025 (FY2025), TIME’s net profit rose 11.8% to RM428.16 million from RM382.83 million a year earlier, while revenue increased 6.1% to RM1.79 billion from RM1.69 billion.

The company also raised its dividend payout policy to 75% of net profit, after adjusting for extraordinary items, from 50% previously.

TIME shares rose three sen or 0.5% to close at RM5.91 on Friday, giving the group a market capitalisation of RM10.93 billion. Over the past year, the stock has gained 20.9%.