KUALA LUMPUR: U Mobile Sdn Bhd has secured a RM4.3 billion syndicated financing facility from five banks to accelerate the nationwide rollout of its next-generation 5G network and expand its ULTRA5G coverage.
CIMB Investment Bank acted as sole loan coordinator and lead arranger, with financing support from CIMB Bank, CIMB Islamic, Maybank Islamic, AmBank Islamic and UOB Malaysia.
U Mobile Chief Executive Officer, Wong Heang Tuck, said the company is ahead of its network deployment schedule and aims to achieve 80 per cent coverage of populated areas by the second half of 2026.
The funds will support CAPEX, working capital and rapid infrastructure expansion.
The Communications Ministry said U Mobile has upgraded 2,976 sites, bringing 5G coverage to 58.2 per cent of populated areas as of Oct 31. – BERNAMA
