Can't have TM dominating and monopolizing a wholesale network again.

Look at what they did with the HSBB. Cannot allow them to drag everyone along with it anymore.

In future healthy competition can only work if there's more than 1 single wholesale network. Whether it's fibre national backbone or last mile.

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Malaysia's electricity and water supply are monopolies that charge reasonable prices for their services because they are well-regulated by the Federal or State government.
....... The same has mostly happened for TM HSBB Fibre network, eg since Jan 2019, I pay only RM50 per month for my postpaid GX50 4G phone plan from U Mobile = "unlimited"-data at 5Mbps and unlimited local calls. There is the similar postpaid RM59 4G phone plan from TM Unifi Mobile. U Mobile also has the prepaid GX38 plan for only RM35 per month. You can't get such prices in USA, UK, Singapore, etc.

Before 2018, the TM Streamyx(= Copper ADSL) 1Mbps plan cost RM99 per month. Things have greatly improved since then, eg the replacement TM Unifi Lite 8Mbps plan costs RM89 per month today.

It would be a waste to have another national electricity supply company or other state-wide water supply companies in Malaysia = such infrastructure duplication is a waste of money, eg private electricity supply companies in USA that often profit-gouge the consumers.

The main solution to any problem in such monopolies is good regulation by the government on behalf of the Rakyat.
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You got it wrong there with Malaysian style of monopoly through the control of wholesale at the same time becoming a retailer of the same product.

If TNB resells electricity as a wholesaler and at same time allow many retail energy companies to set up as retails fronts while they themselves join the competition, there is a tendency for the wholesaler to CHEAT and implement unfair practices to favor its own brand.

This was what happened to the HSBB network owned solely by TM. They were commissioned by the government to build and operate the country's open wholesale network for retail ISPs while they run their OWN UniFi retail brand among the competition. The outcome was what happened? Unifi being the brand owned by TM Wholesale themselves played dirty by building just enough ports for a few then reserved all of them initially for themselves so that other ISPs couldn't beat them to the game.

The same could happened too with 5G if the other telco players are not careful. TM will once again dominate the network all for their own Unifi Mobile brand and leave the leftovers for the other players by manipulating port and bandwidth pricing. Only when an alternative network emerges then TRUE competition will prevail.

I give you another scenario. Let's say our country BERNAS holds full control over its supply chain and wholesale price setting. All rice supplies have to go through them first distributed to retail brands to be repacked to be sold in the grocer marts. BERNAS gets to set the wholesale price to the retailers to regulate all their prices. What happens when the wholesale distributor themselves enter the retail market and pack their own brand of rice to be sold to end consumers?

Can they start playing dirty by reserving only the good stock all for their retailer brand and dictate the others by setting a price which will always favor themselves so that no other retailer brands could beat them to the competition?

Celcom, Digi & Maxis have their own fiber network.
Celcom sister company e.co doing complete A to Z tower base station business.
There is no news big 3 using TM HSBB Fibre for fibre backhaul to base stations mobile service.

the three major cellular players, Celcom Axiata Bhd, Digi.com Bhd and Maxis Bhd, have similar infrastructure but it is mainly for their cellular networks."