CelcomDigi, Maxis and YTL each invested an additional MYR202 million (US$51.66 million) into Digital Nasional Berhad (DNB), topping up the capital funding behind Malaysia9s 5G wholesale network ambitions.
The three operators9 added money totals MYR552.03 million (US$141.19 million) per company and is positioned to support DNB9s 5G operations and fund spectrum acquisition.
How the DNB funding is structured
The investment came through an additional shareholder advance, and DNB is described as Malaysia9s first 5G wholesale network provider.
CelcomDigi said the additional shareholder advance will be used by DNB to pay upfront spectrum fees as part of the spectrum acceptance and to meet working capital requirements.
In a separate Bursa Malaysia stock exchange filing, CelcomDigi and Maxis said they provided the extra funds to DNB at the company9s request.
Stake, voting rights and repayment terms
The MYR552.03 million additional investment represents a 22.94% stake in DNB. CelcomDigi and Maxis said the additional share advances carry voting rights equivalent to ordinary shares in DNB, with each ringgit advanced entitling the holder to one vote in DNB.
CelcomDigi and Maxis also described the shareholder advances as having financing features meant to reduce pressure on DNB9s cash flow: they do not accrue interest and are not repayable upon demand.
Repayment would only happen with DNB9s consent and in accordance with applicable covenants.
MOF excluded after put option, telcos paid the full price
The Ministry of Finance Inc. (MOF), which holds a 31.18% stake in DNB, was excluded from participating in the capital injection after exercising its put option on December 1, 2025.
CelcomDigi, Maxis and YTL paid the full option price after MOF exercised the put option.
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- See also network redundancy considerations for telecom operators running wholesale-grade services.