U Mobile has officially inked a RM4.3 billion syndicated financing, with CIMB Investment Bank Berhad acting as the Sole Loan Coordinator, Joint Mandated Lead Arranger and CIMB Bank Berhad and CIMB Islamic Bank Berhad as the financiers. The financing was arranged together with Maybank Islamic Bank Berhad, AmBank Islamic Bank Berhad, and UOB Malaysia, which served as Joint Mandated Lead Arrangers and financiers. This syndicated financing is one of the largest syndicated ringgit financing raised by an unlisted company in Malaysia.
The financing will support U Mobile’s capital expenditure (CAPEX) and working capital for its 5G network deployment, targeting 80% coverage of populated areas (CoPA) by mid-2026, while accelerating the nationwide expansion of U Mobile’s ULTRA5G experience to advance Malaysia’s digital economy.
“U Mobile, as Malaysia’s newest 5G network provider, is delighted to have successfully secured this RM4.3 billion syndicated financing, one of the largest in the country. This showcases the strong confidence that the leading banks have in the execution of our 5G business plan and long-term growth trajectory. Our 5G deployment across Malaysia started in the middle of 2025 and this new facility will further accelerate our rollout ambitions and reinforce our commitment to drive Malaysia’s digital economy,” said Wong Heang Tuck, Chief Executive Officer of U Mobile.
Wong highlighted that U Mobile is on track to meet its network rollout targets and is confident of achieving 80% of CoPA by the second half of next year. He believes the enterprise-grade network with 5G-Advanced capabilities will benefit public and private sectors. U Mobile is committed to providing the widest and deepest 5G network experience in Malaysia, both outdoors and indoors.
“CIMB is pleased to be a key partner and largest financier to U Mobile in this joint financing commitment, which is poised to drive the deployment of U Mobile’s next gen 5G network across Malaysia. We aim to strengthen seamless connectivity across all crucial touchpoints, serving as a catalyst for the nation’s strategic digitalisation agenda through our financing efforts. We look forward to continuing to spur the development of the nation’s infrastructure as springboard to a digital-first future, in line with our purpose of Advancing Customers and Society,” said Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB.
“As a pioneering global Islamic-finance leader, we are proud to support U Mobile with Shariah-compliant financing to build the ecosystem and accelerate the deployment of Malaysia’s second 5G network. This will enable industries such as advanced manufacturing and healthcare to harness the full potential of AI technologies, and adapt in the new economy,” said Dato’ John Chong, Group CEO, Global Banking, Maybank.
“AmBank is pleased to be part of this landmark syndicated financing for U Mobile, which reflects our continued commitment to supporting Malaysia’s telecommunications sector and the nation’s 5G ambitions. This collaboration underscores the confidence we have in U Mobile’s growth strategy and its role in advancing the country’s digital infrastructure and connectivity agenda. As a trusted financial partner to Malaysia’s leading corporates, AmBank too is committed to driving innovation and digital advancement by supporting investments that strengthen the nation’s telecommunications backbone which propels Malaysia’s journey toward a fully digital and connected economy,” said Datuk Jamzidi Khalid, Managing Director of Wholesale Banking, AmBank Group.
“We are pleased to continue our support for U Mobile through this expanded syndicated financing, which will enable the rollout of its next generation 5G network. As a bank deeply committed to enabling regional connectivity and digital transformation, we believe this partnership will accelerate Malaysia’s digital economy and unlock new opportunities for innovation and growth. Our involvement reflects our confidence in U Mobile’s vision and execution capabilities,” Andy Cheah, Country Head of Wholesale Banking, UOB Malaysia.The 10-year syndicated financing agreement was formalised at Mandarin Oriental. It was signed by Wong Heang Tuck, U Mobile’s CEO; Datuk Jamzidi Khalid, AmBank Group’s Managing Director of Wholesale Banking; Chu Kok Wei, CIMB Group’s CEO of Group Wholesale Banking; Dato’ John Chong, Maybank’s Group CEO of Global Banking; and Andy Cheah, UOB Malaysia’s Country Head of Wholesale Banking.