Kuala Lumpur, 28 June 2024 - Following its statement on 20 June 2024, U Mobile today announced that it has completed the share subscription agreement (SSA) with Digital Nasional Berhad (DNB) and Minister of Finance (Incorporated) (MoF Inc.), and has signed the shareholders’ agreement (SHA) for equity stake in DNB. This significant milestone reflects U Mobile’s full support of the government’s ambition to transition to a dual 5G network model to drive competition and ensure sustainability of the telecommunications industry in Malaysia.

“U Mobile is delighted to have completed the SSA and signed the SHA with DNB to pave the way for the nation’s transition to a dual 5G network model. We are committed to play a critical role in developing Malaysia’s digital economy, by encouraging 5G adoption and showcasing its benefits to consumers, enterprises and the public sector. With the strength of our track record, expertise and futureproofed network infrastructure, we believe we are well-positioned to roll out Malaysia’s second 5G network,” said Wong Heang Tuck, CEO of U Mobile.

U Mobile has grown from strength to strength in the last decade through its innovative product offerings and accessible pricing that has brought value to Malaysians. The telco also has a demonstrated track record of aggressive 4G rollout, with its national population coverage growing from 50% in 2017 to 95% at the end of Q1 2024. The combination of innovation, affordability and quality connectivity has grown its subscriber base to over 9 million at the end of 2023. The telco currently offers best-in-class 5G mobile plans and various 5G-related enterprise solutions to support the digitalisation agenda of corporates and SMEs.