[UPDATED] KL Tower deal: MACC calls in three for questioning

KUALA LUMPUR – Three individuals have been summoned by the Malaysian Anti-Corruption Commission (MACC) to assist in its investigation over the contentious ownership transfer to manage the Kuala Lumpur Tower. 

The anti-graft body said it has also retrieved several documents from relevant quarters for further examination, it said in a statement today.

The investigation is to focus on whether elements of corruption exist in Telekom Malaysia Bhd’s (TM) sale of all of its shares in Menara Kuala Lumpur Sdn Bhd’s (MKLSB) to Hydroshoppe Sdn Bhd in October.

“MACC confirms it is investigating the dubious sale of shares over the ownership of KL Tower management.

“As of now, MACC has called in three witnesses and obtained several documents for examination. In view of this, we will be conducting a thorough investigation,” it said, adding that the probe will cover all angles.

Earlier today, TM clarified in a statement that its decision to forego all of its shares in its wholly owned subsidiary MKLSB to Hydroshoppe is part of its transformation programme to prioritise its core business of telecommunications and technology.

The firm said after due consideration of the change in the business nature of the tower, from telecommunications services to tourism and hospitality, TM decided in October 2021 not to renew its concession.

The matter was later informed to the government accordingly, it added.

TM said in 2022, a selection process for the new concessionaire was then taken up by the government, and that it was later informed of the appointment of Hydroshoppe to take over MKLSB shares and management of the iconic tower. 

Earlier this week, Twitter user @FreeMsian had posted on the social media platform highlighting the tower’s controversial full ownership transfer of 10 million shares to Hydroshoppe on October 31, when Tan Sri Annuar Musa was the communications and multimedia minister.

The social media user had questioned TM’s decision to sell off these shares despite the tower making a hefty RM66 million annual revenue and recording RM25 million net profit in 2019.

He also noted how Hydroshoppe was once close to being struck off by the Companies Commission of Malaysia for not filing its records on a timely basis before it was given “a new life by TM”.

Annuar had said on Tuesday that neither his former ministry nor the government had ever taken part in any such deal, and that it is under TM’s purview.

TM first undertook the concession to manage KL Tower via MKLSB in 1996. – The Vibes, December 29, 2022