U Mobile, a Malaysian 5G network provider, has secured a MYR 4.3 billion syndicated financing to accelerate the deployment of its next generation 5G network nationwide. The facility, one of the largest syndicated ringgit financings ever raised by an unlisted company in Malaysia, will fund capital expenditure and working capital as the operator pushes towards achieving 8% coverage of populated areas (CoPA) by the second half of 2026.
The financing was coordinated by CIMB Investment Bank Berhad, acting as Sole Loan Coordinator and Joint Mandated Lead Arranger, with CIMB Bank Berhad and CIMB Islamic Bank Berhad serving as financiers. The arrangement also involved Maybank Islamic Bank Berhad, AmBank Islamic Bank Berhad, and UOB Malaysia, all of which acted as Joint Mandated Lead Arrangers and financiers.
Driving Malaysia’s Digital Economy
U Mobile Chief Executive Officer Wong Heang Tuck said the successful syndication reflects strong confidence in the company’s 5G business plan and long-term growth trajectory.
He added that U Mobile is ahead of its rollout targets and remains confident of achieving 80% CoPA by the second half of next year. The company’s enterprise-grade network, featuring 5G-Advanced capabilities from the outset, is expected to benefit both public and private sectors.
“CIMB is pleased to be a key partner and largest financier to U Mobile in this joint financing commitment, which is poised to drive the deployment of U Mobile’s next gen 5G network across Malaysia. We aim to strengthen seamless connectivity across all crucial touchpoints, serving as a catalyst for the nation’s strategic digitalisation agenda through our financing efforts.” said Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB.
“As a pioneering global Islamic-finance leader, we are proud to support U Mobile with Shariah-compliant financing to build the ecosystem and accelerate the deployment of Malaysia’s second 5G network. This will enable industries such as advanced manufacturing and healthcare to harness the full potential of AI technologies, and adapt in the new economy,” said Dato’ John Chong, Group CEO, Global Banking, Maybank.
AmBank is pleased to be part of this landmark syndicated financing for U Mobile…AmBank too 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,” said Datuk Jamzidi Khalid, Managing Director of Wholesale Banking, AmBank Group.
“We believe 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,” Andy Cheah, Country Head of Wholesale Banking, UOB Malaysia.
