Kuala Lumpur, 30 May 2025 – U Mobile, Malaysia’s Next Gen 5G network provider, has appointed CIMB to be the company’s Loan Coordinator and Mandated Lead Arranger to facilitate and arrange the financing of up to RM4.0 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure.

The appointment was formalised at a signing ceremony at U Mobile’s corporate office at Berjaya Times Square today. The financing will fund U Mobile’s capital expenditure (CAPEX) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80% coverage of populated areas (COPA) by July 2026.

“U Mobile is pleased to deepen our partnership with CIMB through this significant arrangement. CIMB shares our commitment to driving Malaysia’s digital economy forward through connectivity and innovation,” said Wong Heang Tuck, Chief Executive Officer of U Mobile. “Partnering with a strong financial institution like CIMB demonstrates our ability in executing our capex programme efficiently. Their confidence in our financial discipline and growth trajectory reinforces our ability to deliver an enterprise-grade 5G network that is fast, scalable, and impactful for both businesses and consumers,” he added.

Chu Kok Wei, CEO of Group Wholesale Banking, CIMB Group said, “CIMB is pleased to partner with U Mobile on this strategic initiative to accelerate 5G coverage across Malaysia. 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. As a key financial institution in Malaysia and the region, we are grateful for the opportunity to continue leveraging our financial expertise, entrenched experience and strong business networks to spur U Mobile’s growth in its national ambitions and Malaysia’s broader digital transformation.”  

The agreement was signed by Wong Heang Tuck and Chu Kok Wei, and witnessed by Sandy Tsang, Chief Financial Officer of U Mobile, and Denise Wong, Head of Corporate and Public Sector Coverage at CIMB.

As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion with the balance to be syndicated among other financial institutions.

This milestone underscores U Mobile’s continued momentum as the nation’s newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia’s digital ambitions.