U Mobile today announced that the transaction between Singapore Technologies Telemedia and Mawar Setia Sdn Bhd has been completed, thus seeing Mawar Setia now become the largest shareholder of U Mobile with a holding of more than 50%.
Mawar Setia is an investment company established by Tan Sri Dato Seri Vincent Tan Chee Yioun and YAM Tunku Tun Aminah Binti Sultan Ibrahim Ismail.
In parallel with this, U Mobile announced that YAM Tunku Tun Aminah Binti Sultan Ibrahim Ismail has been appointed as the Chairman of U Mobile, effective March 13, 2026. The position was previously held by Tan Sri Dato Seri Vincent Tan Chee Yioun.
Previously, in 2024, MCMC had selected U Mobile for the development of the two countries' 5G networks. At that time, one of the conditions set included foreign share ownership.
