U Mobile Sdn Bhd has signed a RM4.3 billion syndicated financing facility with four banks to support the deployment of its next-generation 5G network and expand its ULTRA5G services across Malaysia. The deal positions U Mobile among the largest recipients of ringgit-denominated syndicated financing for an unlisted company.
CIMB Investment Bank Bhd acted as the sole loan coordinator and lead arranger, with CIMB Bank Bhd, CIMB Islamic Bank Bhd, Maybank Islamic Bank Bhd, AmBank Islamic Bank Bhd, and UOB Malaysia providing financing.
In a statement, U Mobile CEO Wong Heang Tuck said the company is ahead of schedule in its network rollout. “This new facility will accelerate our deployment targets and reinforce our commitment to driving Malaysia’s digital economy,” he said.
The financing will primarily fund U Mobile’s capital expenditure (CAPEX) and working capital for the nationwide rollout of its next-generation 5G network, aiming to achieve 80% coverage of populated areas (CoPA) by the second half of 2026. It will also expand the ULTRA5G experience nationwide, a key initiative for advancing Malaysia’s digital economy.
Communications Minister Datuk Fahmi Fadzil has set targets for U Mobile to reach 80% 5G coverage in populated areas within the first year of operation and 95% by the third year, in line with the company’s detailed business plan for leading Malaysia’s second 5G network.
According to the Ministry of Communications’ report on Nov 12, U Mobile has already upgraded 2,976 sites to 5G, bringing coverage in populated areas to 58.2% as of Oct 31, 2025. Additionally, 11 buildings have been equipped with 5G infrastructure, which will be activated in phases according to the rollout schedule, reflecting an active phase of national 5G expansion.
