281Shares TIME dotCom has bought a 60% stake in leading local cloud services provider AVM Cloud Sdn Bhd for RM58.7 million, shoring up cloud computing as the newest pillar of its business. This development is the latest in what seems to be a race between local telcos to capitalise on the rapidly increasing interest in cloud products in Malaysia. TIME’s expansion into the cloud business is arguably a natural one – the company already operates data centres in addition to its fibre network services for consumer and enterprise alike. AIMS, the telco’s data centre division, is a well-known name in the local industry and is also the anchor site for the Malaysia Internet Exchange (MyIX).