Edotco partners with Boost and MDEC to accelerate Malaysia's digital economy. From left: Edotco chairman Kenneth Shen, Boost group CEO Sheyantha Abeykoon, Edotco group CEO Adlan Tajudin, Digital Minister Gobind Singh Deo, Axiata Group CFO Nik Rizal Kamil, MDEC CEO Tan Sri Mahadhir Aziz and Edotco director of Malaysia Business Gayan Koralage. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge)

SHAH ALAM (Aug 13): Axiata Group Bhd’s (KL:AXIATA) 63%-owned tower company, Edotco Group Sdn Bhd, on Tuesday signed two separate memoranda of understanding (MOUs) with the Malaysia Digital Economy Corporation (MDEC) and Boost Holdings Sdn Bhd to accelerate Malaysia's digital economy through next-generation digital infrastructure and financial inclusion initiatives.

Under the MOU with MDEC, Edotco will offer expert advisory services and preferential rates for next-generation digital infrastructure solutions to Malaysia Digital Status companies to promote digital growth.

“This includes providing 4G and 5G in-building connectivity for Malaysia digital cybercities and cybercentres, as well as alternative connectivity solutions such as deploying low-orbit satellites and sustainable smart city solutions,” Edotco said in a statement.

For the MOU with Boost, Edotco will collaborate with the fintech company to introduce the tower landowner credit access initiative and provide financial support to more than 2,200 individuals and private landowners with existing tenancy agreements with Edotco.

Axiata’s unit Axiata Digital Services Sdn Bhd (ADS) holds a 78% stake in Boost, while Great Eastern Digital Pvt Ltd owns the remaining 22% equity interest.

“The first phase of the collaboration aims to support SME (small and medium enterprises) tower landowners, while the second phase will be expanded to individuals in the coming months,” it said.

The initiative opens up new avenues for credit access, particularly benefiting those who are unbanked or underbanked, Edotco explained.

Edotco group CEO Adlan Tajudin said that these collaborations with MDEC and Boost are pivotal in driving Malaysia’s digital economy forward.

“By partnering with MDEC, we are ensuring that our tech ecosystem will have access to cutting-edge infrastructure, enabling startups and innovators to thrive,” Adlan said at the signing ceremony.

“Our initiative with Boost will provide financial stability and empower our underserved landowners, who are key stakeholders in our business,” he said.

Digital Minister Gobind Singh Deo, who witnessed the signing of the MOUs, said that the partnerships between these parties are designed to ensure that the communities within the Malaysian digital ecosystem have the infrastructure support necessary to drive innovation and growth nationwide.

“With this endeavour, MDEC and Edotco are creating fertile ground for Malaysia’s digital innovators to accelerate their growth for the benefit of all Malaysians, bridging the urban-rural divide and positioning Malaysia as a leader in the digital age,” he said.