KUALA LUMPUR, Nov 15 – Malaysia’s second 5G network provider, U Mobile, has secured RM4.3 billion in syndicated financing with four banks to support the 5G network rollout and nationwide ULTRA5G services, The Edge reported.
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 also providing financing.
The 10-year syndicated financing is one of the largest ringgit-denominated deals by an unlisted company.
“Our 5G deployment across Malaysia started in the middle of 2025 and this new facility will further accelerate our rollout ambitions and reinforce our commitment to drive Malaysia’s digital economy,” said U Mobile chief executive officer (CEO) Wong Heang Tuck.
Wong said U Mobile is ahead in terms of its network rollout targets and is fully confident that the company will achieve 80% coverage of populated areas (CoPA) by the second half of next year, as reported.
He also believes the company’s enterprise-grade network, featuring 5G-Advanced capabilities from the start of rollout, will benefit both public and private sectors.
U Mobile is fully committed to delivering the widest and deepest 5G network experience, in terms of outdoor and indoor, in Malaysia, he noted.
CIMB Group wholesale banking CEO Chu Kok Wei said the bank aims to strengthen seamless connectivity across all crucial touchpoints, serving as a catalyst for the nation’s strategic digitalisation agenda.
“We look forward to continuing to spur the development of the nation’s infrastructure as a springboard to a digital-first future, in line with our purpose of advancing customers and society,” said Chu.
Maybank global banking group CEO Datuk John Chong said the facility will enable industries such as advanced manufacturing and healthcare to harness the full potential of AI technologies, and adapt in the new economy.
AmBank Group managing director Datuk Jamzidi Khalid said as a trusted financial partner to Malaysia’s leading corporates, AmBank is committed to driving innovation and digital advancement by supporting investments that strengthen the nation’s telecommunications backbone which propels Malaysia’s journey toward a fully digital and connected economy.
Meanwhile, UOB Malaysia country head of wholesale banking Andy Cheah said as a bank deeply committed to enabling regional connectivity and digital transformation, UOB Malaysia believes this partnership will accelerate Malaysia’s digital economy and unlock new opportunities for innovation and growth.
“Our involvement reflects our confidence in U Mobile’s vision and execution capabilities,” Cheah added.
The MCMC had announced in November last year U Mobile’s selection to lead the second 5G network. The announcement came as a surprise, as U Mobile is relatively smaller than its competitors — CelcomDigi Bhd (KL:CDB) and Maxis Bhd — in terms of subscriber base and financial strength.
Communications Minister Datuk Fahmi Fadzil said U Mobile must reach 80% 5G coverage in populated areas in its first year and 95% by year three.
U Mobile plans to upgrade 6,515 sites to 5G starting from July 14. As of Oct 31, 2,976 sites (58.2%) have been upgraded, and 11 buildings have 5G infrastructure.
Under its business plan, U Mobile will launch a standalone 5G network, improve indoor coverage within four years, provide fiber connectivity and support Enterprise 5G for businesses.
