PUTRAJAYA: Five telecommunications companies have been given 20 days to finalise their equity stakes in Digital National Berhad (DNB).
Unity government spokesperson Fahmi Fadzil said it is one of the conditions for the telcos to participate in the 5G dual network implementation.
He said the Cabinet in today's meeting was informed that the directive was given during a DNB Board meeting yesterday, with each of the five telcos represented by a board member.
"One of the conditions for telcos to participate in the dual-network is completing the share subscription agreements (SSA) and holding equity in DNB.
"The Malaysian Communications and Multimedia Commission (MCMC) is expected to announce the tender process for the dual network policy soon.
"Only the telcos that have fulfilled the SSA requirement are eligible to bid for the equity holding," he said in a press conference at the Communication Ministry office, here.
In December 2023, the major telco players namely CelcomDigi Bhd, Maxis Bhd, Telekom Malaysia Bhd (TM), YTL Power International Bhd and U Mobile Sdn Bhd had each entered into SSA with the Finance Ministry and DNB.
The SSAs are targeted for completion in by April 2024, which will result in the telcos collectively owning 70 per cent stake in DNB.
Meanwhile, MCMC reported that as of April 30, 2024, 5G network coverage has reached 81.5 per cent of populated areas.
Additionally, the adoption rate among users has climbed to 39.2 per cent, up 3.8 per cent from the end of March, resulting in approximately 13.2 million 5G accounts across the nation.
"Breaking down the adoption figures, the report highlighted that 12.78 million users are individuals, while 422,609 are enterprise accounts.
"This is a positive achievement and indicates that government policies and MCMC regulations are being well-received by the public," he said.
To facilitate small and medium enterprises (SMEs) in integrating 5G technology, a memorandum of understanding will be held MCMC and the Malaysian Investment Development Authority (MIDA), Fahmi added.