KUALA LUMPUR — U Mobile has secured a RM4.3 billion syndicated financing facility from five major banks to accelerate the rollout of Malaysia’s second 5G network, marking one of the largest ringgit-denominated syndicated facilities raised by an unlisted company.
The 10-year financing was coordinated by CIMB Investment Bank Berhad, which also acted as Joint Mandated Lead Arranger alongside CIMB Bank and CIMB Islamic Bank. Maybank Islamic Bank Berhad, AmBank Islamic Bank Berhad and UOB Malaysia joined the deal as Joint Mandated Lead Arrangers and financiers.
U Mobile U Mobile CEO Wong Heang Tuck said the funds will support capital expenditure and working capital for its next-generation 5G deployment as it targets achieving 80% coverage of populated areas (CoPA) by the second half of 2026.
He said the new financing will also be used to expand its ULTRA5G experience nationwide in line with the government’s dual 5G network policy.
Heang Tuck said the successful close of the RM4.3 billion facility demonstrated strong confidence from leading financial institutions in the company’s long-term strategy and execution capabilities.
“Our 5G rollout commenced in mid-2025 and we are ahead of our internal deployment targets. This facility will further accelerate our ambitions and reinforce our commitment to driving Malaysia’s digital economy,” Heang Tuck said.
He added that U Mobile’s network, built with 5G-Advanced capabilities from the outset, will benefit both businesses and consumers through deeper indoor and outdoor coverage.
Meanwhile, CIMB Group CEO of Group Wholesale Banking, Chu Kok Wei, said the bank is pleased to serve as a key partner and the largest financier of the transaction.
“This financing commitment will support the national 5G rollout and serve as a catalyst for the country’s strategic digitalisation agenda,” Kok Wei said.
At the same time, Maybank’s Group CEO of Global Banking, Dato’ John Chong, said the bank’s Shariah-compliant financing will help develop a digital ecosystem that supports advancements in AI and sector-specific innovations.
Additionally, AmBank Group’s Managing Director of Wholesale Banking, Datuk Jamzidi Khalid, said the landmark deal reflects the bank’s confidence in U Mobile’s strategy and its role in advancing Malaysia’s digital infrastructure.
UOB Malaysia’s Country Head of Wholesale Banking, Andy Cheah, said the bank’s continued support for U Mobile is driven by shared expectations of Malaysia’s accelerating digital economy and the emerging opportunities that 5G will unlock.
The financing agreement was formalised at the Mandarin Oriental in Kuala Lumpur, where Wong and senior representatives from all participating banks signed the deal. – November 14, 2025