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U Mobile’s Role in Malaysia’s 5G Expansion Aligns with Equity Standards

The appointment of U Mobile Sdn Bhd to establish Malaysia’s second 5G network adheres to the equity requirements under the network facility provider (NFP) and network service provider (NSP) licences, affirmed Communications Minister Fahmi Fadzil. Minister Fahmi clarified that under NFP and NSP licences, foreign equity is capped at 49%, and Bumiputera ownership must be at least 30%. U Mobile currently complies with these requirements, with plans to reduce foreign ownership to 20% to ensure stronger local investor control, which aligns with the licence conditions. On Nov 1, the Malaysian Communications and Multimedia Commission (MCMC) selected U Mobile for Malaysia's second 5G rollout. This decision drew attention, as U Mobile has a smaller subscriber base and less financial strength compared to larger players like Maxis Bhd and CelcomDigi Bhd. The selection process, Fahmi emphasized, was conducted through a "beauty contest" method by the MCMC, which assessed busi
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Musk Vows to Slash US Budget Spending by US$2 Trillion if Trump Wins Nov 5 Election



Elon Musk has pledged to reduce US budget spending by at least US$2 trillion if Donald Trump secures victory in the upcoming November 5 presidential election, according to a report by Sputnik.

Speaking at a Trump campaign rally held at Madison Square Garden in New York, Musk, the headliner of the event, responded to fellow billionaire Howard Lutnick's question about how much of the US’s US$6.5 trillion budget could be cut. "I think we can do at least two trillion," Musk stated.

This promise has drawn criticism, with Bloomberg pointing out that Musk's position appears to contradict the interests of his own companies, which benefit from billions in US government contracts and investments.

Trump has previously expressed his willingness to offer Musk a position in the US government should he win the election, noting that Musk is eager to contribute to optimising government operations.

In the upcoming election, the Democratic Party is represented by Vice President Kamala Harris, while Trump is running on the Republican ticket.

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