06 June 2025
U Mobile has engaged CIMB Bank to facilitate and arrange financing of up to MYR4 billion to support its nationwide 5G network rollout.
Under the arrangement, CIMB will act as the lead arranger and loan coordinator, aiming to finance at least MYR1.5 billion, with the remaining funds to be syndicated among other financial institutions.
This substantial funding will be directed toward U Mobile’s capital expenditure plans to accelerate the deployment of its 5G infrastructure, with the target of achieving 80% coverage of populated areas by July 2026. The move builds on a memorandum of understanding (MoU) signed earlier in January 2025, where both companies agreed to explore financing options for the network expansion — though specific financial details were not disclosed at that time.
U Mobile and CIMB have maintained a longstanding financial partnership; in 2021, CIMB participated in a MYR1.2 billion facility for U Mobile, which was increased to MYR1.4 billion in 2023.
“Partnering with a strong financial institution like CIMB demonstrates our ability to execute our capex programme efficiently. Their confidence in our financial discipline and growth trajectory reinforces our capacity to deliver an enterprise-grade 5G network that is fast, scalable, and impactful for both businesses and consumers,” said U Mobile’s CEO Wong Heang Tuck.
Following approval from the Malaysian Communications and Multimedia Commission (MCMC) in November last year, U Mobile has positioned itself as Malaysia’s second 5G operator, backed by robust support from its shareholders and strategic partners. Alongside CIMB, other financial institutions such as UOB and AmBank also provide financing solutions to fund the network’s rollout. In July 2024, U Mobile signed an MoU with AmBank Group to help finance its 5G deployment, further solidifying its financial foundation for the ambitious project.
