ZTE Corporation has signed a Memorandum of Understanding (MoU) with CIMB Bank Berhad to establish a strategic cooperation framework for digital infrastructure development in ASEAN.
This partnership will utilize ZTE’s telecommunications expertise and CIMB’s banking solutions to enhance the deployment of next-generation projects, particularly 5G networks. The MoU includes collaboration on infrastructure financing, regional expansion, and liquidity management, aiming to create a comprehensive ecosystem for digital transformation in the region.
The agreement was signed in Kuala Lumpur by Kevin Xiao of ZTE and Freddy Ong of CIMB, with witnesses Steven Ge and Denise Wong.
ZTE and CIMB have established a strong partnership in Malaysia, particularly in the 5G rollout and various banking services. A new MoU formalizes their collaboration, aiming to enhance digital infrastructure projects across ASEAN, which includes countries like Indonesia, Singapore, Thailand, and Cambodia, while supporting Malaysia’s ongoing 5G network deployment.
The partnership aims to accelerate high-speed connectivity in underserved areas of ASEAN, bridging the urban-rural digital divide. It will support 5G development and broader digital infrastructure aligned with the ASEAN Digital Economy Framework Agreement (“DEFA”). By combining telecommunications technology with financial solutions, the collaboration seeks to improve execution efficiency and scalability for infrastructure projects across multiple markets.
Steven Ge, Vice President of ZTE Corporation and Managing Director of ZTE Malaysia, said: “This partnership reflects a shared commitment to advancing ASEAN’s digital infrastructure and accelerating the deployment of 5G networks. By combining ZTE’s technology leadership with CIMB’s strong regional financial platform, we are well-positioned to support the region’s digital transformation journey.”
Kevin Xiao, General Manager of Treasury and Financing Center, ZTE, added: “Integrated financial and treasury solutions are increasingly critical in enabling large-scale telecommunications projects. This collaboration enhances our ability to support customers and partners with more efficient and scalable financing structures.”
Chu Kok Wei, Chief Executive Officer of Group Wholesale Banking, CIMB, said: “As demand for next-generation connectivity and digital infrastructure accelerates across ASEAN, this collaboration positions CIMB to support ZTE’s regional expansion through integrated financing and banking solutions. Leveraging on CIMB’s ASEAN presence, we aim to enable efficient execution while strengthening client relationships through a broader suite of capabilities.”