U Mobile Sdn Bhd, one of Malaysia’s leading next-generation 5G network providers, has appointed CIMB Group Holdings Bhd as the Loan Coordinator and Mandated Lead Arranger for a financing deal of up to RM4 billion.
The funding is aimed at accelerating the telco’s 5G infrastructure rollout across the country. The partnership was formalised last friday during a signing ceremony held at U Mobile’s corporate office at Berjaya Times Square, Kuala Lumpur.
The financing will support U Mobile’s capital expenditure (CAPEX) to fast-track the deployment of its 5G network, targeting 80% coverage of populated areas (CoPA) by July 2026.
Speaking at the ceremony, U Mobile Chief Executive Officer Wong Heang Tuck said the collaboration with CIMB marks a significant milestone in the company’s efforts to boost digital connectivity in Malaysia.
“Partnering with a strong financial institution like CIMB demonstrates our ability in executing our capex programme efficiently, " he said.
Wong added that the funding would allow U Mobile to accelerate the delivery of a fast, scalable, and enterprise-grade 5G network that will benefit both businesses and consumers nationwide.
Meanwhile, CIMB Group’s Chief Executive Officer of Group Wholesale Banking, Chu Kok Wei, expressed the bank’s pride in playing a role in Malaysia’s digital transformation.
“This next-generation network will be a key catalyst not only in boosting social connectivity and economic inclusion across Malaysia, but positions Malaysia as a key enabler of ASEAN’s digital economy,” he added.
As part of the arrangement, CIMB has committed to participating in the financing with at least RM1.5 billion, while the remaining balance is expected to be syndicated among other financial institutions.
The agreement was signed by Wong Heang Tuck and Chu Kok Wei, and witnessed by U Mobile’s Chief Financial Officer Sandy Tsang and Denise Wong, Head of Corporate and Public Sector Coverage at CIMB.
With this latest development, U Mobile strengthens its position as one of Malaysia’s key 5G players.
The company said the financing initiative will help meet the rising demand for high-speed connectivity while reinforcing its commitment to supporting Malaysia’s ambition to become a regional digital leader.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
