Malaysia's wholesale 5G operator, Digital Nasional Berhad (DNB), has announced the appointment of fresh faces to its board. Their primary task is to finalize ownership details among stakeholders and scrutinize DNB's due diligence findings.
The newly appointed members come from conglomerates, Telekom Malaysia, Maxis, U Mobile, YTL, and CelcomDigi’s Infranation. These entities, having signed share subscription agreements (SSAs) in December 2023, are set to collectively hold a 70% stake in DNB, with each holding a 14% share. The Minister of Finance (MOF) will retain the remaining 30% stake along with a "special share."
Datuk Kamal Khalid, Chief Transformation Officer at CelcomDigi; Uthaya Kumar K Vivekananda, Independent Director of Maxis; Kenneth Chang Yit Fei, Director of U Mobile; Nik Azli Abu Zahar, Group Counsel for Telekom Malaysia; and Dato Seri Yeoh Seok Hong, MD of YTL Power International, have joined the DNB board.
They will join current DNB board members; Treasury Secretary General, Datuk Johan Mahmood Merican; and Digital Ministry Deputy Secretary, Ma Sivanesan Marimuthu, according to a statement. All appointments became effective on April 24.
Digital Minister, Gobind Singh Deo, reportedly stated that the recently formed DNB board is gearing up to hold a meeting. The agenda includes discussions on finalizing the specific requirements needed to complete the "condition precedents" for the SSAs to become operational. Additionally, the board will review the findings from the due diligence process.