PUTRAJAYA, May 29 — A joint venture (JV) company established by LSH Best Builders Sdn Bhd and Service Master (M) Sdn Bhd will operate the Kuala Lumpur Tower via a 20-year concession, said Communications Minister Fahmi Fadzil.
The decision was made after the government and the Public Private Partnership Unit (Ukas) evaluated tenders and proposals following a request for proposal (RFP) to manage KL Tower.
"LSH Best Builders has met all the terms (of the RFP). No integrity issues or any other problems were found, and the next step is to issue the letter (of award).
"All companies involved in this tender need to have the required financial capacity of at least RM18 million," he said during a press conference after today's Cabinet meeting.
Fahmi said that further details on the award of the tender will be provided by Ukas.
"I raised this matter because previously, issues concerning KL Tower involved the Communications Ministry or were answered by the Communications Minister.
"The Cabinet has now decided that the concession period will be for 20 years," he said.
KL Tower was previously managed by Menara Kuala Lumpur Sdn Bhd, a wholly-owned subsidiary of Telekom Malaysia Bhd (TM).
In October 2021, TM notified the government that it had decided not to renew the KL Tower concession after evaluating the transformation of KL Tower's business nature from telecommunications services to hospitality and tourism.
Following TM's decision, the process to select a new concessionaire was undertaken by the government in 2022.
— Bernama
