Kuala Lumpur: U Mobile Sdn Bhd has signed a memorandum of understanding (MoU) with CIMB Bank Bhd to extend financing support for its upcoming 5G network rollout.
This MoU marks the latest financing partnership between U Mobile and CIMB, of which, in 2021, the bank participated in a RM1.2 billion facility to U Mobile, which was later expanded to RM1.4 billion in 2023 Went.
U Mobile CEO Wong Heung Tak said CIMB is its long-term financing partner and in line with the government’s goal of achieving high-income nation status with a focus on digitalization, innovation and growth within the country’s economy through 5G. Shares its commitment to promote
“We believe that CIMB’s financial support will further strengthen U Mobile’s ability to ensure a rapid and cost-effective second 5G network rollout, benefiting enterprises, consumers and the public sector,” he said in a statement today. “
This MoU follows the recent appointment of U Mobile as Malaysia’s second 5G network provider. – Bernama
