KUALA LUMPUR: A consortium, comprising SMTrack Bhd together with 5 different listed firms, has signed a Heads of Agreement (HoA) with 5G Infra Tech Solution Sdn Bhd to undertake a sequence of company workouts.
The company workouts targets to elevate funds and finance 5G and fibre optics-related projects by Digital National Bhd (DNB) and Malaysian Communications and Multimedia Commission (MCMC).
In a joint press convention as we speak, SMTrack deputy government chairman Azmi Osman mentioned the consortium foresees many joint ventures funding the set up of 5G telecommunication towers.
“5G Infra Tech will undertake its maiden 5G challenge in collaboration with Ennova Sdn Bhd (Ennova), one of many contractors for 5G projects by DNB.
“The funding in 5G telecommunication firms corresponding to Ennova will enhance the consortium’s income stream and backside line,” he mentioned on the HoA signing ceremony as we speak.
Meanwhile, 5G InfraTech government chairman Datuk Saiful Nizam Mohd Yusoff mentioned Ennova was the primary to signal a memorandum of settlement with the corporate to finance the rollout of the 5G community.
He mentioned Ennova plans to set up and keep 350 telecommunication towers throughout Kuala Lumpur.
“With the large financing from 5G InfraTech, Ennova can simply roll out 10,000 towers throughout Malaysia,” mentioned Saiful Nizam.
He mentioned the consortium would fund all of 5G Infra Tech’s 5G building and operation prices.
Bumiputera Agenda Steering Unit (TERAJU) chairman, Datuk Seri Mohd Redzuan Mohd Yusof had additionally attended the signing ceremony.
In his speech, Mohd Redzuan mentioned the consortium, led by SMTrack, would allow Malaysia’s 5G community challenge to be regionally funded and thus, saving billions of international trade outflow for the nation. – Bernama