Maxis has announced its readiness to complete the share subscription agreement (SSA) and sign the shareholders agreement with Digital Nasional Berhad (DNB).
This will allow Maxis to complete the SSA agreement earlier than scheduled and participate in the rollout of Malaysia's second 5G network.
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Goh Seow Eng, Chief Executive Officer of Maxis, expressed his enthusiasm for the immediate deployment of the government's dual 5G network plan. He highlighted Maxis’ unwavering dedication to the project and its commitment to actively contributing to Malaysia's digital agenda.
“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 at a faster pace,” Eng said.
In December 2023, Maxis, Telekom Malaysia, U Mobile, YTL, and CelcomDigi's Infranation, signed SSAs to obtain 70% ownership of DNB, with each company receiving a 14% interest, however, the agreements are yet to be finalized due to some pending negotiations.
Maxis aims to play a significant role in promoting and advancing the use of 5G and 5G-Advanced (5.5G) technology among consumers, enterprises, and the government sector. The company's proactive approach positions it to make a substantial contribution to Malaysia's digital transformation and economic growth.
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The company aims to expedite the completion of the SSA ahead of the timeline set by Minister of Communications, YB Fahmi Fadzil, who stipulated that all SSAs should be finalized by June 21, 2024.
Notably, data from the Ministry of Communications revealed that DNB's 5G network covers 81.5% of populated areas, and the rate of 5G adoption is 39.2%.
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