Malaysia hands 5G spectrum to little-known firm controlled by politically linked tycoon

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KUALA LUMPUR - Malaysia has quietly awarded the highly-sought after 5G telecommunications spectrum to several players including the little-known Altel, a firm controlled by the reclusive but politically connected tycoon Syed Mokhtar al-Bukhary, seemingly without an open tender previously promised.. Read more at straitstimes.com.

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KUALA LUMPUR - Malaysia has quietly awarded the highly sought-after 5G telecommunications spectrum to several players, including the little-known Altel, a firm controlled by the reclusive but politically connected tycoon Syed Mokhtar al-Bukhary, seemingly without an open tender previously promised.

"The commission will take immediate action under the Act and laws on relevant subsidiaries to implement the spectrum assignment to all licence holders," Datuk Seri Saifuddin, who was foreign minister under PH, said in the order to regulator Malaysian Communications and Multimedia Commission . A check on the MCMC website found that no tenders were called, and executives from various telecoms firms also told The Straits Times they were not aware of any invitations to bid for the spectrum.

Telcos must pay an upfront sum as well as annual fees for spectrum allocations. Although not fixed, some firms have paid up to RM600 million upfront, with RM51 million in annual fees for their allotments which last for over 15 years.

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Business as usual 😂. The old cronies are back. Voters in the last 10 bye-elections have plenty to reflect on.

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