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U Mobile Inks MOU with AmBank to Provide Financial Solutions for 5G Deployment

Kuala Lumpur, 31 July 2024 – U Mobile, the award-winning mobile and digital services provider, has signed another Memorandum of Understanding (MoU) in preparation for the rapid deployment of the country’s second 5G network. With this latest MOU, AmBank Group. will provide financing solutions to meet the telco’s 5G network deployment needs.

 

This latest move will further strengthen U Mobile’s ability to implement cost-effective, efficient and timely deployment of the country’s second 5G network, enhancing digital connectivity nationwide and creating new opportunities for innovation and growth within the country's economy in a sustainable manner.  This latest MoU is also testament to the telco and bank’s long-standing working relationship, evidenced by a as a new RM200 million Sustainable Linked Financing financing was extended recently and it is a Sustainable Linked Financing with Sustainability Performance Targets aligned to U Mobile’s ESG goals. 

 

“U Mobile is delighted to have signed an MOU with AmBank and we appreciate their commitment in providing us with the financial solutions to accelerate the deployment of the second 5G network in Malaysia. U Mobile is fully committed to bringing the benefits of 5G technology to consumers, enterprises and the public sector. This strategic partnership represents a shared vision towards driving innovation and delivering value to all stakeholders,” said Sandy Tsang, Chief Financial Officer of U Mobile.

 

“AmBank is proud to support U Mobile in their mission to enhance Malaysia's digital landscape with the deployment of the second 5G network. Our collaboration underscores our commitment to providing innovative financial solutions that drive technological advancement and economic growth. We look forward to furthering our partnership and contribution to the country's connectivity and sustainability goals,” said Jamzidi Khalid, Managing Director of Wholesale Banking at AmBank.

 

The MoU was signed by Sandy Tsang and Cheah Wei Koon, Senior Vice President, Wholesale Banking Coverage of AmBank Group, at U Mobile’s Corporate Office at Berjaya Times Square. The ceremony was witnessed by Wong Heang Tuck, Chief Executive Officer of U Mobile, and Jamzidi Khalid.

UMXAmBank

(From L-R) Wong Heang Tuck, CEO of U Mobile, Sandy Tsang, CFO of U Mobile, Cheah Wei Koon, Senior Vice President, Wholesale Banking Coverage of AmBank Group and Jamzidi Khalid, Managing Director of Wholesale Banking at AmBank.

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