U Mobile has secured a RM4.3 billion syndicated financing facility from five major banks to accelerate the rollout of Malaysia’s second 5G network, marking one of the largest ringgit-denominated syndicated facilities raised by an unlisted company. The 10-year financing was coordinated by CIMB Investment Bank Berhad, which also acted as Joint Mandated Lead Arranger alongside CIMB Bank and CIMB Islamic Bank. Maybank Islamic Bank Berhad, AmBank Islamic Bank Berhad and UOB Malaysia participated as Joint Mandated Lead Arrangers and financiers.
U Mobile CEO Wong Heang Tuck said the funds will support capital expenditure and working capital for the company’s next-generation 5G deployment, with a target of achieving 80% coverage of populated areas (CoPA) by the second half of 2026. He added that the financing will also help expand the company’s ULTRA5G experience nationwide, aligning with the government’s dual 5G network policy. According to Wong, U Mobile’s 5G rollout, which began in mid-2025, is already ahead of internal deployment targets. He said the successful close of the RM4.3 billion facility reflects strong confidence from leading financial institutions in the company’s long-term strategy and execution capabilities. He also emphasised that U Mobile’s network, designed with 5G-Advanced capabilities from the outset, will deliver deeper indoor and outdoor coverage for both consumers and businesses.
CIMB Group’s CEO of Group Wholesale Banking, Chu Kok Wei, said the bank is pleased to serve as a major partner and the largest financier in the transaction, calling the commitment an important step in supporting the national 5G rollout and Malaysia’s strategic digitalisation agenda. Maybank’s Group CEO of Global Banking, Dato’ John Chong, noted that the bank’s Shariah-compliant financing will contribute to developing a robust digital ecosystem that advances AI and sector-specific innovations. AmBank Group’s Managing Director of Wholesale Banking, Datuk Jamzidi Khalid, said the landmark deal underscores the bank’s confidence in U Mobile’s strategy and its role in strengthening Malaysia’s digital infrastructure. UOB Malaysia’s Country Head of Wholesale Banking, Andy Cheah, added that the bank’s continued support stems from shared expectations of Malaysia’s accelerating digital economy and the new opportunities that 5G technology is poised to unlock.
The financing agreement was formalised at the Mandarin Oriental in Kuala Lumpur, where Wong and senior representatives from all participating banks were present for the signing ceremony.