Maxis’ shareholders who were supposed to sign the DNB 5G access agreement in January which they announced in December, are now seeking to postpone after the government’s cabinet meeting.
The only telco that has not signed the controversial 5G agreement is putting it off after newly minted Communication Minister Fahmi Fadzil announced the review of the Single Wholesale Network 5G rollout model proposed by Digital Nasional Berhad’s chief Ralph Marshall.
(note: Ralph Marshall was the former director of Maxis Communication before reports emerged that he and tycoon owner Ananda Krishnan had a fallout)
Fahmi said the new 5G network implementation policy will be tabled at the cabinet meeting scheduled to be by the end of quarter three. In a statement issued to Bursa, Maxis’ shareholders said ” accordingly the board of directors at Maxis believes it is prudent to postpone the seeking of shareholders approval until the network implementation policy is finalised’
DNB is owned by the Ministry of Finance and has been appointed solely to manage the country’s 5G rollout without conducting any auction of the spectrum, this is the first time Malaysia adopted the SWN model which many argue is monopolistic and leaves the vibrant telecommunication industry less competitive.
Shares of telecommunication operators dropped when the government announced the rollout model.