No shareholding conditions breached in U Mobile selection, says minister

Free Malaysia Today

Communications minister Fahmi Fadzil said the MCMC had reviewed the matter during the selection process and ensured the shareholding conditions were met.  Read More:  https://www.freemalaysiatoday.com/category/nation/2024/11/07/no-shareholding-conditions-breached-in-u-mobile-selection-says-minister/  Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/11/07/pemilihan-u-mobile-tak-langgar-syarat-pegangan-saham-kata-fahmi/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #UMobile #FahmiFadzil #MCMC #5G

Transcript

00:00The selection of UMobile Sindram Berhad, whose major shareholder is a Singaporean firm, to

00:07develop the nation's second 5G network does not reach any stipulated conditions, says

00:12Communications Minister Fahmi Fazil.

00:15Fahmi said the Malaysian Communications and Multimedia Commission had reviewed the matter

00:20during the selection process and ensured the shareholding conditions, specifically the

00:24foreign equity cap of 49%, were met.

00:28UMobile has also announced that the foreign equity cap will be reduced to 20%.

00:35So, from the aspect of both foreign equity and local equity, it did not violate the issues

00:45or conditions for the decision that has been made.

00:51He said the MCMC had independently selected UMobile and neither the minister nor the deputy

00:56was involved in the process.

00:58He was responding to Hassan Karim, who asked whether UMobile's selection as the second

01:02network provider was influenced by any particular individuals within the company.

01:07Meanwhile, when asked by Tasik Belugor MP Wan Saiful Wanjan if there was a conflict

01:12of interest due to UMobile's stake in Digital National Berhad, Fahmi said the MCMC had considered

01:18all factors such as the firm's management, shareholding and corporate governance and

01:23found no violations.

01:25UMobile has also contacted the DNB to ensure that the existing 5G users will not have any

01:35problems in terms of 5G usage.

01:40And I believe that if both of these networks have a common goal, which is to build a stable,

01:49sustainable and competitive network, then in the end the benefits will be returned to

01:56the people and the enterprise.

01:59Natasha Beast, FMT News.

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