Lim Seong Hai Capital Secured Agreement to Undertake Operation and Management of Kuala Lumpur Tower

• LSH Capital, through its joint venture LSH Service Master Sdn Bhd (“LSHSM”), has signed a 20-year concession agreement with the Public Private Partnership Unit of the Prime Minister’s Department (“UKAS”) to undertake the operation, maintenance, and management of Kuala Lumpur Tower.

• The joint venture between LSH BEST Builders Sdn Bhd (“LSHBB”) and Service Master (M) Sdn Bhd (“SMMSB”) will modernise and elevate Kuala Lumpur Tower into Malaysia’s premier landmark, combining LSHBB’s expertise in construction and engineering with SMMSB’s integrated facilities management capabilities.

• LSHSM will implement visitor facility upgrades, new attractions, and technology-driven operational enhancements, ensuring Kuala Lumpur Tower remains a leading hospitality and tourism hub while preserving its heritage as a national icon.

Kuala Lumpur, Monday, 10th March 2025 – Lim Seong Hai Capital Berhad (“LSH Capital” or “the Company”), a full-fledged construction company, is delighted to announce the signing of a 20-year concession agreement with the Public Private Partnership Unit, Prime Minister’s Department (“UKAS”), to undertake the operation, maintenance, and management of the world’s 7th tallest tower, Kuala Lumpur Tower. The agreement is entered by the joint venture company between LSH BEST Builders Sdn Bhd (“LSHBB”) and Service Master (M) Sdn Bhd (“SMMSB”). The joint venture company is incorporated under the name LSH Service Master Sdn Bhd (“LSHSM” or “the JV”).

Under this joint venture, LSHBB holds a 70% stake, while SMMSB holds the remaining 30%. By combining LSHBB’s expertise in construction and engineering with SMMSB’s capabilities in integrated facilities management, the partnership aims to modernise and elevate Kuala Lumpur Tower into Malaysia’s premier iconic landmark.

Kuala Lumpur Tower, standing at 421 metres, is the seventh tallest tower in the world and serves as a key telecommunications, hospitality, and tourism hub in the heart of Kuala Lumpur. As part of the agreement, the JV will undertake comprehensive operation, maintenance, and enhancement works, ensuring that Kuala Lumpur Tower remains a leading destination for both local and international visitors.

Speaking after the signing ceremony, Tan Sri Datuk Seri Lim Keng Cheng, the Non-Executive Chairman of LSH Capital, remarked: “This is a significant milestone for LSH Capital as we embark on an ambitious journey to transform and revitalise Kuala Lumpur Tower into a world-class landmark. We are committed to enhancing visitor experiences through modernisation, innovation, and strategic development. Our vision is to create a dynamic space that integrates retail, cultural, and recreational elements while preserving Kuala Lumpur Tower’s heritage as a national icon. We are truly honoured to be trusted by the Government to take on this project.” “This project fully aligns with the growth strategy of LSH Capital’s to expand our capabilities in the field of facilities management and at the same time strengthen our position in construction where we are now able to construct new facilities including new retail area, event space, kiosk, carparks and other amenities which is expected to cost RM70.2 million”, added Tan Sri Lim Keng Cheng.

With this agreement in place, LSHSM will focus on:

• Upgrading visitor facilities to deliver a modern, engaging experience.

• Creating new attractions and experiences to elevate its tourism appeal.

• Construct new facilities including new retail area, event space, kiosk, carparks and other amenities.

• Improving operational efficiency through technology-driven facilities management.

The signing of this agreement reinforces LSH Capital’s long-term commitment to innovation, sustainability, and excellence, setting the stage for Kuala Lumpur Tower’s transformation into a global tourism and cultural icon.

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