19 August 2025
CelcomDigi, Maxis, and YTL Power International have collectively contributed an extra MYR350 million into Digital Nasional Bhd (DNB), the entity responsible for Malaysia’s 5G wholesale network. This move aims to bolster DNB’s operational capabilities as the company prepares for the launch of U Mobile’s second 5G network.
In disclosures filed with Bursa Malaysia, CelcomDigi and Maxis revealed that each will invest a further MYR116.67 million into DNB, on top of their initial MYR233.33 million contributions made under share subscription agreements finalised in June 2024. These investments were initially intended to acquire stakes in DNB. The additional funding raises each operator’s total investment to just over MYR350 million, amounting to a combined total of slightly over MYR1 billion from the three major shareholders.
Both CelcomDigi and Maxis stated that this extra capital injection is aimed at meeting DNB’s working capital needs, supporting its 5G operations, and maintaining its financial stability. They clarified that these investments are not expected to impact their respective financial results.
However, a risk warning was included in CelcomDigi’s filing, highlighting concerns that the rollout of U Mobile’s second 5G network could exert pressure on DNB’s revenues. This is because customers and access seekers might migrate to the new network, potentially reducing DNB’s market share. CelcomDigi also noted that DNB might require further funding in the future to remain competitive as demand for 5G services in Malaysia continues to grow.
In addition, CelcomDigi disclosed that DNB has established a steering committee responsible for overseeing fund management. The committee will report regularly to all shareholders, ensuring prudent financial management of DNB’s resources.
Ownership stakes remain unchanged, with CelcomDigi, Maxis, and YTL Power each holding a 19.44% stake in DNB. The remaining 41.67% belongs to the Minister of Finance. U Mobile, which secured rights to operate Malaysia’s second 5G network in November 2024, exited DNB in May 2025 after selling its 16.28% stake for MYR100,000 to the remaining shareholders.
According to filings from CelcomDigi and Maxis, the Ministry of Finance intends to sell its shares in DNB to the other three stakeholders within a month of 12 November 2025, unless a different agreement is reached among all parties.
