KUALA LUMPUR : U Mobile has appointed CIMB as the mandated lead arranger and loan coordinator for a financing facility of up to RM4 billion, aimed at supporting the nationwide rollout of its next-generation 5G network infrastructure.
In a joint statement, U Mobile confirmed that the financing will be channelled towards capital expenditure required to expedite the deployment of its 5G network. The initiative targets achieving 80% coverage of populated areas across Malaysia by July 2026.
As part of the financing arrangement, CIMB is expected to contribute at least RM1.5 billion, with the remaining funds to be syndicated among other financial institutions.
“This milestone underscores U Mobile’s continued momentum as Malaysia’s newest 5G network provider, reinforcing digital connectivity and innovation while advancing the nation’s digital ambitions,” the companies stated.
Wong Heang Tuck, Chief Executive Officer of U Mobile, emphasised that partnering with a reputable financial institution like CIMB is indicative of the telco’s disciplined approach to capital expenditure.
“U Mobile is proud to deepen our collaboration with CIMB through this strategic engagement. CIMB shares our vision of propelling Malaysia’s digital economy through robust connectivity and continuous innovation,” he said.
“Their confidence in our financial governance and growth prospects enhances our capacity to deliver a high-speed, enterprise-grade 5G network that benefits both businesses and consumers.”
Chu Kok Wei, Group Chief Executive Officer of Wholesale Banking at CIMB Group, expressed confidence in the partnership’s ability to significantly enhance 5G penetration across Malaysia.
“This next-generation network will not only elevate social connectivity and economic inclusivity domestically, but also strengthen Malaysia’s role as a digital enabler in the ASEAN region,” said Chu.
“As a leading financial institution in Malaysia and the region, CIMB is pleased to contribute its financial expertise, market insight, and network reach to support U Mobile’s growth and Malaysia’s broader digital transformation journey.”
-Berita Harian
