Maxis Bhd’s board of directors have announced that the company will be seeking shareholders’ approval to enter into the 5G access agreement with Digital Nasional Bhd (DNB). Moreover, the company intends to complete the approvals process by January 2023 and will only commercially launch 5G-related products and services afterwards.
Previously, we reported that Maxis is the only one out of the six major mobile network operators (MNOs) in Malaysia yet to sign the agreement. As reported by Bernama, the telco company clarified that its board has assessed the governance requirements for the agreement and believes that it is mandatory for the company to seek shareholders’ approval. More so, given the nature of the access agreement and the substantial undertaking involved.
In a filing with Bursa Malaysia yesterday (2 November 2022), Maxis said that the move is in accordance with Section 223 of the Companies Act 2016 and para 10.07 of the Bursa Main Market Listing Requirements. In the same statement, Maxis stressed that the company is committed to playing an active and leading role in bringing 5G to the nation, in line with the government’s digital ambitions through DNB’s network.
Besides that, Maxis asserted that it is looking forward to bringing the best of 5G services and converged solutions to all its customers. Furthermore, the company is focused on launching 5G as part of its suite of offerings in the near future, subject to shareholders’ approval, though further announcements setting out the details will only be provided in “due course”.
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