KUALA LUMPUR: A consortium of six listed companies, led by SMTrack Bhd, will invest in 5G mobile network-related projects via a collaboration with 5G Infra Tech Solution Sdn Bhd.
The consortium and 5G Infra Tech aim to undertake corporate exercises to raise funds and finance 5G and fibre optics-related projects by Digital Nasional Bhd (DNB) as well as Malaysian Communications and Multimedia Commission.
SMTrack deputy executive chairman Azmi Osman (pic) said the consortium had not decided on the corporate exercises to raise funds or the amount to be raised for the 5G mobile network-related projects.
“We will make announcements (on this) soon,” he said at a briefing after a signing ceremony for the head of agreement between the consortium and 5G Infra Tech in Petaling Jaya yesterday.
The consortium is expected to help enabling the country’s 5G network project to be locally funded, thus resulting in savings from foreign exchange outflow, according to Unit Peneraju Agenda Bumiputera chairman Datuk Seri Mohd Redzuan Md Yusof.
“There are also a number of bumiputra companies attending this event and this will open many opportunities for the 5G project ecosystem,” said Mohd Redzuan.
In a statement, Azmi said the consortium foresees many joint ventures funding the installation of 5G telecommunication towers.
“5G InfraTech will undertake its maiden 5G projects in collaboration with Ennova Sdn Bhd, which is among the contractors for 5G projects by DNB,” said Azmi.
Ennova is mainly involved in the construction and engineering of telecommunication infrastructure.
5G Infra Tech executive chairman Datuk Saiful Nizam Mohd Yusoff said Ennova was the first to sign a memorandum of agreement with 5G Infra Tech.
“Ennova plans to install and maintain 350 telecommunication towers all over Kuala Lumpur. With the huge financing from 5G Infra Tech, Ennova can easily roll out 10,000 towers all over Malaysia,” said Saiful in a statement.
Sersol managing director Datuk Wira Justin Lim Hwa Tat said investing in the telecommunication industry in this digital age is a strategic investment with profitable return.
“We are optimistic that the consortium, which consist two information technology companies, two property developers and two investment holding companies, will be a strong combination,” said Lim.
Also present were CHHB managing director Datuk Jared Lim, Jiankun executive director Datuk Seri Tan Choon Hwa, MQ Technology executive director Terence Cheah Eu Lee, Techna-X executive director Ahmad Rizan Ibrahim and Ennova executive chairman Datuk Husni Zai Yaakob.