What's Happening?
U Mobile has raised over $1 billion through a ten-year syndicated financing facility to fund the deployment of Malaysia's second 5G network infrastructure. The financing, coordinated by CIMB Investment Bank and arranged with Maybank Islamic Bank, AmBank
Islamic Bank, and UOB Malaysia, will accelerate the expansion of U Mobile's Ultra5G service. The service, launched in August, aims to provide superior indoor coverage across Malaysia. U Mobile CEO Wong Heang Tuck expressed confidence in achieving 80% coverage of populated areas by the second half of 2026.
Why It's Important?
The funding and expansion of U Mobile's 5G network are significant for Malaysia's digital economy, enhancing connectivity and technological infrastructure. This development is expected to boost economic growth, improve digital services, and attract investments in technology sectors. Businesses and consumers in Malaysia will benefit from improved network capabilities, potentially leading to innovations in mobile services and applications.
