Malaysia-based U Mobile lined up financing from CIMB Bank to support the deployment of the country’s second nationwide 5G network.
U Mobile CEO Wong Heang Tuck stated CIMB is its long-standing banking partner and its financial backing would strengthen its ability to deliver the network.
CIMB Bank’s funds would help to “ensure a rapid and cost-efficient second 5G network rollout that will bring benefits to enterprises, consumers and the public sector”, the CEO said.
U Mobile was awarded the controversial 5G contract by the Malaysian Communications and Multimedia Commission in November 2024.
Early in 2023, the government moved away from its single 5G wholesale network strategy and approved a second nationwide network following pressure from operators and a review of the controversial single infrastructure plan.
State-founded Digital Nasional Berhad, the company managing the existing wholesale 5G network, targeted 85 per cent of population coverage at end-2024.
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