From left: Cheah Wei Koon, Senior Vice President of Wholesale Banking Coverage, AmBank Group; Datuk Jamzidi Khalid, Managing Director of Wholesale Banking, AmBank Group; Freddy Ong Teck Guan, Regional Head, Corporate & Investment Banking Coverage, CIMB Bank; Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB Group; Sandy Tsang, Chief Financial Officer, U Mobile; Wong Heang Tuck, Chief Executive Officer, U Mobile; Chew Ching Ean, Managing Director, Client Coverage, Maybank Investment; Datuk John Chong, Group Chief Executive Officer of Global Banking, Maybank; Marie Phang, Head TMT, Corporate Banking, UOB Malaysia; and Andy Cheah, Country Head of Wholesale Banking, UOB Malaysia
KUALA LUMPUR: U Mobile has signed a RM4.3bil syndicated financing, which will fund its capital expenditure and working capital for the rollout of next gen 5G network deployment.
According to the telco, the funding will also accelerate the expansion of U Mobile’s ULTRA5G experience nationwide.
"Our 5G deployment across Malaysia started in the middle of 2025 and this new facility will further accelerate our rollout ambitions and reinforce our commitment to drive Malaysia's digital economy,” said Wong Heang Tuck, CEO of U Mobile, in a statement.
U Mobile said CIMB Investment Bank Bhd was acting as the sole loan coordinator and joint mandated lead arranger, with CIMB Bank Bhd and CIMB Islamic Bank Bhd as the financiers.
The financing was arranged together with Maybank Islamic Bank Bhd, AmBank Islamic Bank Bhd, and UOB Malaysia, which served as joint mandated lead arrangers and financiers.
Wong said U Mobile is ahead in terms of its network rollout targets and is fully confident that the company will achieve 80% of coverage of populated areas (CoPA) by the second half of next year.
Chu Kok Weo, CEO of group wholesale banking of CIMB, said the joint financing commitmen 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.
"We look forward to continuing to spur the
development of the nation’s infrastructure as springboard to a digital-first future, in line with our purpose of Advancing Customers and Society,” he said.
Maybank group CEO of global banking Datuk John Chong added that it is 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."
AmBank group managing director of wholesale banking Datuk Jamzidi Khalid said the collaboration underscores the confidence it has in U Mobile’s growth strategy and its role in advancing the country’s digital infrastructure and connectivity agenda.
Meanwhile, UOB Malaysia country head of wholesale banking Andy Cheah said as a bank deeply committed to enabling regional connectivity and digital transformation, it believes this partnership will accelerate Malaysia’s digital economy and unlock new opportunities for innovation and growth.
