VTEL/Aries Audited Revenue Proof from 2013 ~ 2017

V Telecoms Berhad (later renamed Aries Telecoms (M) Berhad) completed and commissioned the VTEL Coastal Terrestrial Fibre Optic Network in 2013. The project involved a nationwide fibre infrastructure along Peninsular Malaysia's coast, with the West Coast segment from Johor Baharu to Padang Besar finished at that time. This development enabled the launch of the Global IP Transit service on 28 October 2013.

The commissioning expanded service capacity and geographic reach. It allowed provision of high-bandwidth, Ethernet-based wholesale connectivity to a broader customer base, including multinational corporations, telecom providers, ISPs, and large Malaysian enterprises.

Revenue increased following the completion. The company recorded RM62.8 million in 2013. Revenue rose to RM103.2 million in 2014, an increase of 64 percent year-on-year. In 2015, revenue reached RM148.2 million, reflecting further growth of approximately 44 percent from 2014. By 2016, revenue amounted to RM194.9 million.

The infrastructure supported recurring revenue from leased lines, broadband solutions, and international connectivity services. It contributed to customer growth beyond 250 clients by 2015 and captured market share in Malaysia's wholesale bandwidth sector, which grew steadily in that period.

Analyst reports from 2015 projected continued revenue expansion based on the network's operational status and rising data demand. The completed fibre assets facilitated higher utilisation rates and margin improvement, with EBITDA margins expanding in prior years to 71 percent by 2014.

Subsequent financial challenges emerged after 2016, including loan defaults and legal proceedings related to the financing of the project. However, the revenue trajectory from 2014 to 2016 demonstrates the direct contribution of the commissioned coastal network to business performance in the immediate years after 2013.