Malaysia royal appointed new telco chief amid Mawar Setia takeover
The daughter of the current King, Tunku Tun Aminah Sultan Ibrahim Ismail has been named chairman of U Mobile Sdn Bhd effective March 13 following her father's appointment as king on February 24 and Vincent Tan Chee Yioun stepping down from his role to become an adviser.
Key Points
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1Tunku Tun Aminah Sultan Ibrahim has been appointed the new non-independent, non-executive Chairman of telco firm U Mobile Sdn Bhd.
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2The appointment took effect on March 13, with Vincent Tan Chee Yioun stepping down from his role as chairman effective at close of business on March 12.
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3Vincent Tan will transition to serving solely in an advisory capacity following the change in leadership structure.
Developments
Tun Aminah, daughter of Malaysia King Sultan Ibrahim Iskandar, has been appointed chairman of U Mobile Sdn Bhd after her investment vehicle raised its stake above 50 percent following a share purchase from Singapore Technologies Telemedia. She succeeded founder Vincent Tan on March 13 and will also serve as the non-independent chairperson for Berjaya Corp Bhd while acting in an advisory capacity at both companies until further notice, according to their respective websites
U Mobile founder Vincent Tan has stepped down as chairman to become an adviser while Tunku Aminah was appointed following a transaction that gave her holding company over 50% control of the firm. These governance changes aim to strengthen oversight and secure funding for U Mobile's implementation of Malaysia's second national 5G network, which launched on January 26 after being selected in November 2024 alongside other telcos via Digital Nasional Bhd share sales.