Tunku Tun Aminah Sultan Ibrahim Ismail, daughter of Malaysia’s billionaire king Sultan Ibrahim Iskandar, has replaced local tycoon Vincent Tan as chairman of U Mobile, the country’s second 5G network provider.
She took on the role from March 13 while Tan, the company’s founder and former chairman, stays on as a board adviser to provide guidance and support its continued growth, U Mobile said in a statement on Tuesday.
Tunku Tun Aminah brings extensive leadership and governance experience, having led private organizations across a wide range of industries and served on the boards of multiple listed and private firms, the telecom firm said.
Tunku Tun Aminah Sultan Ibrahim Ismail, daughter of Malaysian King Ibrahim Iskandar. Photo from Facebook/The Royal Johor |
In the same announcement, Tan said the company’s focus is now “to strengthen governance and long-term funding support, so the management team can accelerate rollout and meet the coverage expectations set for the country’s second 5G network.”
“I am delighted to share that U Mobile has been progressing well and is ahead of deployment schedule,” he added.
Tunku Tun Aminah’s appointment comes as Mawar Setia, an investment vehicle she co-founded with Tan, took a controlling stake in U Mobile through a share purchase from Singapore Technologies Telemedia, The Edge Malaysia reported.
She also serves as a non-independent non-executive chairman of Berjaya Corp, a conglomerate founded and controlled by Tan with operations spanning financial services and property development, according to its website.
She is the only daughter of Sultan Ibrahim. The Malaysian king has extensive business interests, and Bloomberg estimated his family’s assets to be worth at least $5.7 billion in 2024.
Sultan Ibrahim is a business partner of Tan and also owns shares in U Mobile, which is privately held though Tan has expressed plans to take it public.
Tan was ranked by Forbes as Malaysia’s 31st richest man last April with a net worth of $770 million.
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