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[UPDATED] KL Tower gets new management, local JV lands 20-year concession: Fahmi | Scoop
Communications Minister Fahmi Fadzil reveals that the government, through the Public Private Partnership Unit, has selected a joint venture between LSH Best Builders Sdn Bhd and Service Master (M) Sdn Bhd to manage KL Tower for 20 years. – Unsplash pic, May 29, 2024
News

[UPDATED] KL Tower gets new management, local JV lands 20-year concession: Fahmi

Minister says joint-venture company was chosen from five local proposals after passing all criteria and integrity checks

Main Author Image
Qistina Nadia Dzulqarnain
Updated
4:31 PM MYT

 

PUTRAJAYA – The government has appointed a joint-venture (JV) company to take over the management of KL Tower for 20 years, said Communications Minister Fahmi Fadzil. 

Fahmi said the government, through the Public Private Partnership Unit, selected a JV between LSH Best Builders Sdn Bhd and Service Master (M) Sdn Bhd to spearhead the project after five local companies submitted their proposals. 

“The company was found to have fulfilled all the stipulated criteria, (while) integrity checks also found no issues associated with the company. 

“The next step of the process will be to issue a letter (of appointment) for the 20-year concession,” Fahmi, who is also the government’s spokesperson, told a press conference at his ministry’s complex here today.

It is understood that the appointment letters to be handed over to the successful tenderers will stipulate the takeover date for the building’s concession.  

KL Tower was previously managed by Telekom Malaysia Bhd’s subsidiary, Menara Kuala Lumpur Sdn Bhd, through Hydroshoppe Sdn Bhd. 

In December 2022, Fahmi had called for an official probe into issues surrounding the transfer of KL Tower’s management ownership to Hydroshoppe. 

Following a graft probe by the Malaysian Anti-Corruption Commission, Hydroshoppe director Abdul Hamid Shaikh Abdul Razak Shaikh was charged in court last year. 

Hamid was accused of allegedly offering an annual RM500,000 bribe over 15 years to former communications and multimedia minister Tan Sri Annuar Musa in relation to the takeover of the KL Tower management concession. – May 29, 2024

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