Maxis ready to complete on DNB share subscription

11 June 2024

Maxis has announced is ready to complete the Digital Nasional Berhad (DNB) share subscription agreement (SSA) process in accordance with the terms of the SSA and to sign the shareholders agreement with DNB.

The communications minister recently said that all SSAs must be signed off by 21 June, which is also a condition for participating in the government's planned second 5G network.

Malaysia's five MNOs signed share subscription agreements (SSAs) in December 2023 to collectively take a 70% stake in DNB, with each taking a 14% stake, while the Malaysian Government, represented by the Ministry of Finance (MOF), will retain the remaining 30% and hold a special share.

"We want to see an early conclusion to the SSA process as it will provide greater certainty to the nation's dual 5G network rollout. Completing the SSA process is a pragmatic and necessary step to commence the transition to a dual 5G network. Maxis is fully prepared to start building the second 5G network immediately to accelerate the nation's 5G plan and bring its economic benefits to Malaysians," Maxis said in a statement.