Affirms commitment towards Government's 5G Dual Network model, ready to lead development of Malaysia's second 5G network
PETALING JAYA, 28 June 2024 – CelcomDigi Berhad ("CelcomDigi") announced in a Bursa Malaysia filing today that the Company has completed the conditional share subscription agreement ("SSA") with the Minister of Finance (Incorporated) ("MoF Inc.") and Digital Nasional Berhad ("DNB") and signed the shareholders' agreement ("SHA") for equity stake in DNB.
This announcement follows CelcomDigi's statement on 20 June 2024 saying it was ready to complete the SSA, affirming the Company's full support towards the Government's 5G Dual Network model, and readiness to lead in shaping the country's 5G landscape and in delivering innovative 5G services to Malaysian consumers and enterprises.
Ready to lead the way in developing Malaysia's second 5G network
"We are eager to move into the next phase of transitioning to the 5G Dual Network model and participating in the upcoming process to build the second 5G network. We welcome a solution that benefits Malaysian consumers and the industry through a fair and transparent selection and transition mechanism that will promote healthy and equitable competition between the two 5G networks, and advance the technological and economic development of the country. We have a proven track record and substantial experience in deploying mobile networks over the last 30 years. Combined with the RM 4 billion CAPEX we have invested to build Malaysia's leading digital network, we believe we are in a strong position to lead the development of the second 5G network for Malaysia," said CelcomDigi CEO Datuk Idham Nawawi.
CelcomDigi has a strong track record of building networks in Malaysia over the last three decades, and now operates the widest 4G network in the country, which covers 97% of populated areas nationwide. The Company has been actively upgrading its network through its nationwide integration and modernisation exercise. It aims to build Malaysia's leading digital network with an end state of 18,000 5G-ready sites delivering seamless 5G and 4G experience to all Malaysians. The modernised network, which will enable fast deployment of 5G and 5G-Advanced technology across its footprint, is ready to be commissioned as one of the largest standalone 5G networks in the region geared towards driving increased 5G adoption to realise Malaysia's digital society aspirations. CelcomDigi is committed towards the Government's 5G Dual Network model and is ready to lead the development of Malaysia's second 5G network.
For more information, please refer to the related Bursa Announcement here.