LSH unit assumes management of KL Tower for 20 years until end-March 2045
Last month, LSH and the Federal Lands Commissioner formalised a 20-year concession and lease agreement until end-March 2045, to manage, operate and maintain the tower.
Last month, LSH and the Federal Lands Commissioner formalised a 20-year concession and lease agreement until end-March 2045, to manage, operate and maintain the tower.
The group said it expects the rghts issue of one new share for every two shares held at 20 sen per share, totalling 273.
The property, which has a land area of 179,369 sq ft with a net lettable area of 67,506 sq ft, is located at the Senawang Industrial Park.
"Our appointment was based on a legitimate government-led procurement process.
Southern Score said that the transfer will enhance its corporate profile, credibility and reputation, while increasing its visibility among institutional investors.
The Johor-based property developer recorded a net profit of RM536.
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.
Vun was the former MD and shareholder of FTEC Resources Bhd, which morphed into Tecasia Bhd and later Mangotone Bhd, before being delisted in 2010.
Following this latest project win, Bintai Kinden’s unbilled order book has increased to RM132.