Bullish Aim

What Bullish Aim does

Bullish Aim Sdn Bhd is a Malaysian private telecommunications infrastructure company founded in 2010 and headquartered in Petaling Jaya, with operational concentration in Johor Bahru. The firm builds, leases, and manages physical connectivity assets — fiber optic networks (including dark fiber, open-access backhaul, and last-mile home-pass deployment of 50,000+ premises), telecommunications towers (50+ units built since 2016 with full turnkey construction and management), in-building coverage and Wi-Fi connectivity solutions, and consumer landing stations linking data centers to last-mile users. Its primary customers are Malaysian telecom operators and carriers (YTL Communications, U Mobile, Allo Technology), data centers, and enterprise clients, served via a direct enterprise field-sales motion with long-term infrastructure contracts.

The revenue model is anchored on recurring subscription fees from tower leases and fiber services, supplemented by project-based deployment revenue and transaction-fee exposure from newer digital-asset activities. Pricing is not publicly disclosed; commercial arrangements are quote-based on deployment scope and tenure.

In December 2025 the company expanded into regulated digital assets with the launch of RMJDT — a ringgit-backed stablecoin pegged to the Malaysian ringgit, issued on the Zetrix blockchain under Malaysia's national digital asset sandbox, backed by cash deposits and short-term Malaysian government bonds. Concurrent with the launch, Bullish Aim established a Digital Asset Treasury Company (DATCO) seeded with RM500 million in Zetrix tokens (planned scale to RM1 billion), with disclosed intent to stake validator nodes representing up to 10% of Malaysia's blockchain infrastructure. Ownership and chairmanship rest with the Regent of Johor (Tunku Ismail Ibni Sultan Ibrahim); operating leadership comprises Managing Director/Joint CEO Dato' Lion Peh and Executive Director/Joint CEO Mohamad Naifuddin Bin Bujang Mohidin. A 2016 IPO ambition and an RM100 million gross-profit five-year target have not, on available evidence, materialized.

Name

Bullish Aim

Legal name

BULLISH AIM SDN BHD

Website

https://bullish-aim.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Bullish Aim is a Malaysian private telecom infrastructure firm, chaired by the Regent of Johor, that builds fiber networks, leases telecommunications towers, and delivers connectivity solutions to carriers, data centers, and enterprises — and in December 2025 launched RMJDT, a sandbox-regulated ringgit-backed stablecoin on the Zetrix blockchain, alongside a RM500M Digital Asset Treasury Company.

Ownership category

akta.pro rank

Product category

Telecommunications Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)

SIC

Finance Services (6199)

akta.pro primary industry

RWA Tokenization Platforms (asset onboarding, structuring, issuance) (FSAPAIAC)

akta.pro secondary industries

Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE), Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD)

Keywords

• Telecom infrastructure services
• Fiber optic networks
• Telecom tower leasing
• Connectivity solutions
• Stablecoin issuance

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Telecom Tower Leasing: Leasing telecommunication towers to telecom operators for network expansion, providing shared infrastructure assets with multi-tenant capability
2. Fiber Infrastructure Services: Providing fiber optic infrastructure for data transmission including dark fiber, network deployment, planning, and optimization services to carriers and enterprises
3. Stablecoin and Digital Asset Services: Digital Asset Treasury Company (DATCO) operations supporting RMJDT stablecoin transactions and blockchain infrastructure, with plans to stake Zetrix tokens for validator nodes
4. Connectivity Solutions: Wi-Fi solutions, in-building coverage (IBC), and consumer landing stations providing localized access infrastructure for last-mile connectivity

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Bullish Aim is a Malaysian telecommunications infrastructure company that provides fiber optic networks, telecom tower leasing, construction and management services, connectivity solutions (Wi-Fi, in-building coverage, satellite communications), and consumer landing station (CLS) services. In December 2025, the company expanded into digital finance by launching RMJDT, a ringgit-backed stablecoin on the Zetrix Layer-1 public blockchain, positioning itself as a Digital Asset Treasury Company (DATCO).

Product overview

Bullish Aim is a telecommunications infrastructure company offering a diversified portfolio of connectivity solutions. The core offerings include Fiber & Network Infrastructure (carrier-grade fiber optic networks), Telecom Tower Services (leasing, construction, and management), Connectivity Solutions (Wi-Fi and In-Building Coverage), and Consumer Landing Stations. In December 2025, the company expanded into digital assets with the launch of RMJDT, a Ringgit-backed stablecoin on the Zetrix blockchain, and established the Digital Asset Treasury Company (DATCO) to support ecosystem stability. The company operates under Malaysia's national digital asset sandbox framework.

Differentiator

Problem solved

Functional benefit

Products and services

• Fiber Optic Network Services

Quantifiable outcome

• RM500 million digital asset treasury established
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Zetrix BlockchaincoreTechnology or Integration · 9 December 2025RMJDT stablecoin issued on Zetrix blockchain as part of Malaysia's national digital asset sandbox. Bullish Aim establishing Digital Asset Treasury Company (DATCO) with Zetrix tokens to support network stability and stake validator nodes for blockchain security.
• YTL CommunicationscoreStrategic or Co-development Partner · 24 February 2025Bullish Aim Group and YTL Communications (subsidiary of YTL Power International Berhad) entered into a strategic joint venture to develop next-generation common fiber infrastructure. The collaboration leverages YTL Communications' experience in large-scale infrastructure development and BA Group's technology expertise to deploy unified fiber optic network across Malaysia.
• U MobilecoreStrategic or Co-development Partner · 14 July 2024Strategic MoU signing with U Mobile for Malaysia's second 5G network rollout. Bullish Aim positioned at forefront of telecommunications future alongside infrastructure providers EdgePoint Towers, Naza Communications, and OCK Group to accelerate deployment of second 5G network.
• EdgePoint TowersminorStrategic or Co-development Partner · 14 July 2024Infrastructure provider partner in 5G network MoU collaboration with U Mobile, participating in building and optimizing 5G infrastructure across Malaysia.
• Naza CommunicationsminorStrategic or Co-development Partner · 14 July 2024Infrastructure provider partner in 5G network MoU collaboration with U Mobile, supporting national telecommunications infrastructure development.
• OCK GroupminorStrategic or Co-development Partner · 14 July 2024Infrastructure provider partner in 5G network MoU collaboration with U Mobile, contributing to 5G infrastructure deployment.
• Allo Technology (Tenaga Nasional)coreStrategic or Co-development Partner · 12 August 2021Collaboration agreement with Allo Technology (wholly-owned subsidiary of Tenaga Nasional Bhd) to increase fiber connectivity to more homes and businesses in Johor state. Partnership enabled Bullish Aim to expedite Johor Digital Initiatives using Allo's fiber infrastructure.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• YTL Communications: Malaysian integrated telecommunications operator and Bullish Aim's joint venture partner for next-generation common fiber infrastructure. Overlaps with Bullish Aim on fiber infrastructure while competing across the broader telecom stack.
• TIME dotCom Berhad: Malaysian telecommunications company focused on fiber optic network infrastructure, data centers, and wholesale connectivity. Directly comparable to Bullish Aim's fiber and network infrastructure business in Malaysia.
• StraitsX: Singapore-headquartered regulated digital currency issuer behind SGD- and IDR-backed stablecoins for cross-border payments. Most directly comparable digital-asset peer to Bullish Aim's RMJDT ringgit-backed stablecoin, both operating regulated stablecoins in Southeast Asia.
• OCK Group Berhad: Malaysian telecommunications network services provider covering tower construction, network planning, and infrastructure operations. Closely comparable to Bullish Aim's core telecom tower and fiber services, and a co-signatory of the U Mobile 5G MoU.
• EdgePoint Towers: Malaysian independent telecommunications tower company building, owning, and operating tower portfolios for mobile operators. Direct peer to Bullish Aim's tower leasing, construction, and management business, and a co-participant in the U Mobile 5G MoU.
• Allo Technology: Wholly-owned subsidiary of Tenaga Nasional Berhad operating open-access fiber infrastructure in Johor and beyond, and a Bullish Aim fiber-expansion partner. Directly comparable in fiber roll-out model and target geography.

Regional players

• edotco Group: Regional telecommunications infrastructure company operating tower portfolios across multiple Asian markets (Malaysia, Bangladesh, Pakistan, Myanmar, Cambodia, Sri Lanka). Comparable business model to Bullish Aim's tower business but at significantly larger regional scale.
• Tower Bersama Infrastruktur: Indonesian telecommunications tower operator with a portfolio of thousands of sites across Indonesia. Comparable telecom tower leasing model to Bullish Aim, with a regional rather than direct geographic overlap.

Broad incumbents

• Helios Towers plc: Listed tower infrastructure operator across Africa and the Middle East with a comparable tower-leasing business model. Larger and more diversified than Bullish Aim, but the most direct analog for recurring tower revenue economics.
• Telekom Malaysia (TM): Malaysia's incumbent telecommunications operator with the country's largest fiber backbone, data center, and wholesale connectivity footprint. Comparable fiber and tower infrastructure footprint to Bullish Aim's emerging national ambitions but at substantially larger scale and broader service portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bullish Aim