LSH Capital JV to undertake ops management of KL Tower

KUALA LUMPUR: Lim Seong Hai Capital Bhd (LSH Capital) has announced that a partnership between its unit, LSH Best Builders Sdn Bhd, and Service Master (M) Sdn Bhd has been chosen to undertake the operations and maintenance management of Kuala Lumpur Tower.

In a statement, the group said the joint venture (JV) had received a letter from the Public Private Partnership Unit, Prime Minister’s Department (UKAS), informing that the government had agreed in principle to award the 20-year concession to the JV following a request for proposal exercise.

According to the group, the joint venture will be 70% owned by LSH Best Builders and the remaining 30% by Service Master.

"LSHBB-SMMSB JV has envisioned a KL Tower with an elevated visitor experience through modernisation and refurbishment while enhancing the true potential of KL Tower that emphasises on spaces for retail, cultural and recreational programming," said LSH Capital non-executive chairman Tan Sri Lim Keng Cheng.