KUALA LUMPUR, August 30 — Digital Nasional Berhad (DNB) has announced the termination of its Share Subscription Agreement (SSA) with Telekom Malaysia Berhad (TM) after TM failed to meet the conditions precedent by the extended longstop date of August 21, 2024. The agreement, originally signed on December 1, 2023, was terminated on August 23, 2024, after DNB declined TM’s request for a further extension to December 31, 2024.
Despite this termination, DNB confirmed that the SSAs with four other mobile network operators—CelcomDigi Berhad, Maxis Broadband Sdn Bhd, U Mobile Sdn Bhd, and YTL Communications Sdn Bhd—remain valid. These operators collectively hold a 65.1% equity stake in DNB, while the Malaysian government retains a 34.9% stake and a Special Share in the company.
Telekom Malaysia, in response, stated that the termination does not affect its existing 5G services, as its wholesale agreement with DNB remains intact. TM affirmed its ongoing commitment to advancing Malaysia’s digital infrastructure and supporting the nation’s transition to a 5G Dual Network, despite the SSA termination.
