The former operator of KL Tower — Menara Kuala Lumpur Sdn Bhd — and its parent Hydroshoppe Sdn Bhd are alleging contractual breaches and misconduct that led to the award of the concession to LSH Service Master.
LSH Capital has signed a 20-year lease agreement with the government to operate and maintain the Kuala Lumpur Tower and its surrounding areas.
Apart from construction, the company also supplies building materials, lighting and related mechanical and electrical products, hardware products and tools, rental of construction machinery, and equipment.
LSH Capital declared an interim single-tier dividend of 0.
Additionally, it will manage existing commercial facilities, including restaurants and kiosks, while retaining all related income.
After the proposed capital reduction, Vizione is expected to narrow its accumulated losses to RM20.
When the three properties are fully leased, CLMT is expected to generate an annual gross rent of RM5.
HCK Capital is controlled by its executive chairman Tan Sri Clement Hii Chii Kok @ Hii Chee Kok with 55.
The move is expected to eliminate the company’s RM29.
The real estate investment trust (REIT) announced a distribution of 1.
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