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DNB’s share subscription agreement will be signed later this year: Fahmi | Scoop
Communications and Digital Minister Fahmi Fadzil stressed that the discussions have been ‘going well’ and that the relevant organisations are working together during a press conference after the launch of DNB’s 5G Experience Centre at the lobby of TRX Exchange 106, here today. – Alif Omar/Scoop pic, October 26, 2023
News

DNB’s share subscription agreement will be signed later this year: Fahmi

Signing was supposed to occur this month, but some technical and financial details still need to be ironed out

Main Author Image
Qistina Nadia Dzulqarnain
Updated
6:48 PM MYT

 

KUALA LUMPUR – The share subscription agreement on equity stakes in Digital Nasional Bhd (DNB) should be signed by telecommunication (telco) companies sometime this year, according to Communications and Digital Minister Fahmi Fadzil. 

Initially targeted for this month, Fahmi said the delay was due to certain technical and financial details that still need to be finalised.

“This afternoon I had a meeting with the 5G task force and we discussed a few matters which I will convey to all the MNOs (mobile network operators),” Fahmi told reporters. 

Communications and Digital Minister Fahmi Fadzil today launched DNB’s 5G Experience Centre at TRX Exchange 106. – Alif Omar/Scoop pic, October 26, 2023

“I had hoped that (the signing) could be done within October, but there are some slight delays because some details have to be reviewed. I’m happy to say that the review has been done… if everything is okay then we can probably proceed with the signing.”

The minister was speaking during a press conference after the launch of DNB’s 5G Experience Centre at the lobby of TRX Exchange 106, here today. 

When questioned on whether the signing could take place this year, Fahmi briefly said: “Insyallah (God willing).” 

Communications and Digital Minister Fahmi Fadzil says development of the 5G network under the SWN model through DNB will continue until it reaches 80% coverage of populated areas before introducing a dual-network model. – Alif Omar/Scoop pic, October 26, 2023

He also stressed that the discussions have been “going well,” citing the climate of “understanding and preparedness to work together” presented by relevant ministries, the Malaysian Communication and Multimedia Commission (MCMC), DNB and MNOs. 

“I’m happy to acknowledge that we’re on the right track. There was some disagreement, but ultimately, (we were able to settle on) a way forward for Malaysia.”

Earlier this month, Fahmi said that talks on a second 5G network provider might be held after the share subscription agreement is in place. 

On July 21, Fahmi said CelcomDigi, Maxis, Telekom Malaysia, U Mobile and YTL Communications would finalise negotiations on equity stakes in DNB, the government’s 5G special purpose vehicle, to support development of the country’s 5G network.

Development of the 5G network under the SWN model through DNB will continue until it reaches 80% coverage of populated areas, before a dual-network model is introduced. – October 26, 2023

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