KUALA LUMPUR: Telekom Malaysia Bhd has clarified that KL Tower is owned by the government, and it operates the property under a concession.
It said in a statement that KL Tower's operations and maintenance has been granted under a concession to Telekom subsidiary Menara Kuala Lumpur Sdn Bhd (MKLSB) since 1996.
However, it had decided not to renew its concession of KL Tower as part of its plan to refocus its efforts and resources on its core business of telecommunications and technology.
"After due consideration on the change in the business nature of MKL, from telecommunications services to tourism and hospitality, TM has decided in October 2021 not to renew the MKL concession and informed the Government accordingly," it added.
It said the selection process of the new concessionaire was taken up by the government, which informed TM on the appointed company to take over the shares of MKLSB and the concession.
"MKLSB shall continue to operate the concession and ensure the continuity of MKL operations for the Malaysian public, including international visitors," said TM.
The telco added that employees of MKLSB will remain employed under the new concessionaire for a minimum of three years to ensure their welfare is protected during the transition.
