All liabilities of Digital Nasional Bhd (DNB) will be borne by its remaining shareholders once the government fully exits the company, Digital Minister Gobind Singh Deo confirmed. He said this is provided under the shareholders agreement governing the state-owned 5G network entity.
According to Gobind, DNB has received multiple rounds of funding since its inception. These include an initial RM500 million equity injection in 2021, a RM450 million shareholder loan from the Minister of Finance Inc (MOF Inc) in 2023, an RM800 million receivables purchase agreement in 2021, and a RM1.5 billion government-guaranteed loan in 2023. Both of which have already been fully utilised.
At present, CelcomDigi, Maxis, and YTL Power International each hold 19.44% in DNB, while MOF Inc remains the largest shareholder with 41.7%. The line-up changed after U Mobile exited last year to take charge of developing Malaysia’s second 5G network.
Following U Mobile’s departure, the three MNOs injected fresh advances of RM116.67 million each, on top of earlier contributions of RM233.23 million each. These funds were meant to support DNB’s ongoing operations and working capital needs, according to Bursa Malaysia filings.
Gobind added that DNB remains aligned with its business plan despite adjustments for the dual 5G model. He also reiterated that MNOs have pledged full support to keep the company financially sustainable under the shareholders agreement.
Previously, Gobind stated that no second 5G network would be rolled out until government funding provided to DNB is repaid by its shareholders. However, he did not specify when this repayment is expected to be completed.
(Source: Gobind Singh Deo, via X / The Edge Malaysia)
