Our team led by Loh Mei Mei and Chan Kwan Hoe from Zul Rafique & Partners’ Banking and Finance Department recently advised on the landmark first tranche financing provided by UOB Malaysia in the form of an MYR800 million receivables purchase arrangement (RPA) to Ericsson Malaysia which will enable the latter to deliver the initial phases of Digital Nasional Bhd (DNB)’s nationwide 5G network rollout. Zul Rafique & Partners has also been appointed to act for the lead arranger and syndicate banks for the additional MYR2.3 billion syndicated RPA.

DNB, an entity wholly owned by the Minister of Finance (Incorporated), has been mandated to be the single neutral party to undertake the accelerated deployment of 5G infrastructure and network nationwide. It is licensed under the Communications and Multimedia Act 1998 to provide wholesale 5G coverage and capacity to licensees under the act.

The development of the National 5G Network is part of the MyDigital initiative, designed to develop and to spur the country’s digital economy by 2030 and serves as part of the government’s aspirations to transform Malaysia into a digitally-driven, high-income nation.

Loh Mei Mei, Partner, said: This deal represents a significant milestone for Malaysia’s digital economy aspirations. We are honoured that Zul Rafique & Partners was selected for this landmark transaction and to be part of Malaysia’s transformation into a digitally empowered society and knowledge economy. This is a testament of Zul Rafique & Partners’ expertise in advising on complex infrastructure project financing”.

The deal was also featured in The EDGE on 28 October 2021, HERE

For more insights into this area of law, please contact our Partners in Banking & Finance Practice Group:

Loh Mei Mei
Kung Suan Im
Ashela Ramaya
Chan Kwan Hoe
Celine Rangithan

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