YTL Power International Berhad Completes Share Subscription Agreement with Digital Nasional Berhad (DNB) and MoF Inc.

Kuala Lumpur, 28 June 2024

YTL Power International Bernad (“YTL Power International”) today announced that it has completed the Share Subscription Agreement (“SSA”), following the successful meeting of all the conditions precedent in the conditional SSA it entered into with DNB and the Ministry of Finance (Incorporated) (“MoF Inc.”) on 1 December 2023.

This investment in DNB signifies the YTL Power International Group’s commitment (through YTL Communications Sdn Bhd) to play a leading role in driving Malaysia’s digital agenda and supporting the Government’s vision for a 5G Dual Wholesale Network (DWN) environment that will deliver benefits to the nation.

''In line with our commitment to deliver world-class 5G services to the nation, we are fully supportive of the effective implementation of the 5G Dual Wholesale Network model announced by the Government. We will continue to work closely with the Government to realise Malaysia’s ambitions for a digital economy, especially in the development of 5G and the wider AI ecosystem,” said Dato’ Seri Yeoh Seok Hong, Managing Director of YTL Power International.

He added, “As the pioneer to launch 5G in Malaysia, YTL Communications through Yes 5G has and continues to champion accessibility and affordability of 5G services for all Malaysians, including consumers, businesses and industries. We are ready to accelerate the successful rollout of 5G nationwide, which is the bedrock to leapfrog industries and drive economic growth.”

YTL Communications, through its service brand Yes 5G, provides the most affordable, best-in-class 5G mobile plans in Malaysia, as well as enterprise-level solutions such as the Yes 5G Private Network. Recently, YTL Communications collaborated with Clarion Malaysia to launch Malaysia’s first AI and robotics-based advanced manufacturing line, powered by the Yes 5G Private Network.

About YTL Power International Berhad

YTL Power International Berhad is an international multi-utility infrastructure developer listed on the Main Market of Bursa Malaysia with a strong track record in developing projects and acquiring operational assets through competitive auctions.

In addition to its physical infrastructure assets, YTL is developing a new generation of digital infrastructure underpinned by its subsidiary YTL Data Centers which is developing 500MW of hyperscale data centre capacity on a 1,640-acre site in Johor, the first data center park in Malaysia to be co-powered by adjacent on-site solar energy. Additionally, YTL AI Cloud will deploy and manage one of the world’s most advanced supercomputers on NVIDIA Grace Blackwell-powered DGX Cloud – an AI supercomputer for accelerating the development of generative AI.

YTL is also involved in mobile communications and internet-based services through YTL Communications Sdn Bhd - the operator of the “Yes” telecommunications platform, the first telco to launch 5G in Malaysia.

YTL alongside its partner Sea Ltd. was granted a digital banking licence by Bank Negara Malaysia in April 2022. This digital bank is expected to be operational in 2024.

YTL owns Wessex Water Limited, a water and sewerage provider in the United Kingdom, and YTL PowerSeraya Pte Limited, Singapore’s second largest power producer with a total licensed capacity of 3,100 MW. YTL’s projects under development include the development of Brabazon, Bristol, a mixed-use residential and commercial property project in the UK.

About YTL Communications

YTL Communications Sdn Bhd (793634-V) is a subsidiary of YTL Power International Berhad and serves as the communications arm of YTL Corporation Berhad, a leading infrastructure conglomerate in Malaysia. YTL Communications Sdn Bhd is a global frontrunner in telecommunications and operates a mobile network called ‘Yes’, Malaysia’s first nationwide 4G provider.

As the youngest operator with 92% population pure 4G coverage, the Yes network is the only network in Malaysia with a modern all-IP architecture. On the back of this advanced architecture, Yes became the first in Malaysia to provide nationwide VoLTE (Voice over LTE) in 2016—five years ahead of all other telcos.

In 2021, Yes yet again emerged as Malaysia’s first 5G service provider to launch 5G and in May 2022, Yes launched Malaysia’s first truly uncapped 5G service with the lowest tariff globally in line with the vision of “5G for All”. Today, Yes is proud to be the nation’s undisputed 5G leader with back-to-back Malaysia’s Fastest Mobile Network award wins by Ookla in Q3-Q4 2022 and Q1-Q2 2023. For more information about Yes 5G, please visit https://www.yes.my/.