Maxis Bhd’s wholly owned subsidiary Maxis Broadband has intended to execute the Access Agreement for Maxis to gain access to the 5G products and services provided on a wholesale basis by Digital Nasional Bhd (DNB), including the national 5G wholesale network product.
In a filing with Bursa Malaysia, Maxis believes that it is in the best interest of the company to enter into the Access Agreement after the government announced that they had agreed that the implementation of the 5G network in Malaysia will continue through DNB until it reaches 80 per cent coverage in populated areas by the end of 2023.
Maxis said the rationale and benefits of the proposed transaction are due to its commitment to realising Malaysia’s digital ambitions and enhancing Maxis’ converged network solutions.
“DNB remains the single neutral wholesale network provider to undertake the deployment of 5G infrastructure and network nationwide as at the latest practicable date.
“Therefore, the entry into the Access Agreement with DNB will enable Maxis to provide the 5G services to its customers,” it said.
The Access Agreement is expected to be executed by Maxis Broadband after Maxis has obtained the approval of its shareholders at the extraordinary general meeting to be convened, expected in the third quarter of 2023.
Maxis Group is expected to incur operating expenses of approximately RM360 million per annum for the National 5G Wholesale Network Product.
Previously on Nov 2, 2022, Maxis sought shareholders’ approval for the proposed entry into the Access Agreement with DNB but postponed it on Jan 20, 2023, until after the 5G network implementation policy has been finalised by the government. – Bernama
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