KL Tower operations to continue despite takeover dispute, says Hydroshoppe

KL Tower operations to continue despite takeover dispute, says Hydroshoppe

The company warns that any attempt to take over the operations would be unlawful as the case is still pending in court.

KL Tower
Hydroshoppe Sdn Bhd and Menara Kuala Lumpur Sdn Bhd want the 20-year KL Tower concession, recently awarded to Lim Seong Hai Capital Bhd, to be returned to them.
PETALING JAYA:
Operations at Kuala Lumpur Tower will continue as usual on the second day of Hari Raya despite an ongoing legal dispute over its management, says Hydroshoppe Sdn Bhd.

In a joint statement with Menara Kuala Lumpur Sdn Bhd, Hydroshoppe said any attempt by Lim Seong Hai Capital Berhad (LSH Capital) and its subsidiary, LSH Service Master Sdn Bhd (LSHSM), to take over the operations would be unlawful with the case still pending in court.

Menara Kuala Lumpur managing director Abdul Hamid Shaikh Abdul Razak Shaikh said any disruption to KL Tower’s operations, especially during the festive season, could negatively impact the tourism industry and visitors’ experience.

“KL Tower is a key destination for both local and international tourists who wish to enjoy the breathtaking views of Kuala Lumpur.

“Any action that may disrupt its operations could negatively affect the visitor experience and dampen the festive spirit,” he said.

Hamid urged all parties to respect the legal process and avoid actions that could create unnecessary tensions.

“Any takeover should only proceed once the court has reached a final decision,” he said.

It was reported that Hydroshoppe and Menara Kuala Lumpur had filed a lawsuit over the award of the tower’s concession to LSH Capital.

The two companies claim that there is an agreement regarding KL Tower’s management, and allege that LSH Capital had “induced a breach” of the contract they had signed with Putrajaya in August 2022.

They are seeking RM20.13 million in losses and damages and for the concession to be transferred to them.

LSH Capital, who recently secured a 20-year lease to manage KL Tower, was reported to have said it would defend the lawsuit.

The agreement, effective April 1 to March 31, 2045, grants LSH Capital rights to over about 10 acres of land, including the KL Tower site, Tower Terrace, and adjacent areas.

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