U Mobile, a Malaysia-based 5G network provider, has signed a MYR 4.3 billion ($1.04 billion) syndicated financing, with four Malaysian banks to support its Next Gen 5G network deployment.

U Mobile said in a statement on last Friday that 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 for the financing.

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 mainly fund U Mobile’s capital expenditure (CAPEX) and working capital for the rollout of U Mobile’s next gen 5G network deployment, aiming to achieve 80 percent coverage of populated areas (CoPA) by the second half of 2026.

The funding will also accelerate the expansion of U Mobile’s ULTRA5G experience nationwide, a key catalyst in advancing Malaysia’s digital economy.

“U Mobile, as Malaysia’s newest 5G network provider, is delighted to have successfully secured this MYR 4.3 billion ($1.04 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,” said Wong Heang Tuck, Chief Executive Officer of U Mobile.

According to him, the firm’s 5G deployment across Malaysia started in the middle of 2025 and this new facility will further accelerate its rollout ambitions and reinforce its commitment to drive Malaysia’s digital economy.

Wong also highlighted that U Mobile is ahead in terms of its network rollout targets and is fully confident that the company will achieve 80 percent of CoPA by the second half of next year, as reported.

He also believes the company’s enterprise-grade network featuring 5G-Advanced capabilities from start of rollout will benefit both public and private sectors.

“U Mobile is fully committed to delivering the widest and deepest 5G network experience, in terms of outdoor and indoor, in Malaysia,” he added.

Meanwhile, Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB, said this joint financing commitment is 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 digitalization 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,” he added.

John Chong, Group Chief Executive Officer, Global Banking, Maybank, also said the financing will 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 artificial intelligence (AI) technologies, and adapt in the new economy,” he added.

Jamzidi Khalid, Managing Director of Wholesale Banking, AmBank Group, said this landmark syndicated financing for U Mobile reflects their 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,” he added.

Andy Cheah, Country Head of Wholesale Banking, UOB Malaysia, also said this expanded syndicated financing 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,” he added.

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