The operations and management of the KL Tower will continue as usual, said Menara Kuala Lumpur Sdn Bhd and its parent Hydroshoppe Sdn Bhd, despite the court's dismissal of their ad interim injunction application to halt the award of the iconic landmark's concession to a subsidiary of Lim Seong Hai Capital Bhd (KL:LSH).
The High Court on Tuesday dismissed an application by the former operator of the Kuala Lumpur Tower for an ad interim injunction to halt the award of the KL Tower concession to a subsidiary of Lim Seong Hai Capital Bhd (KL:LSH), LSH Service Master Sdn Bhd.
Noteworthy:
When: February 2025
Agreements have been signed for Matrix to acquire a 50% stake in Horizon L&L Sdn Bhd, the entire equity stake in Exoland Property Management Sdn Bhd, and 30% of Horizon L&L (SEL) Sdn Bhd for RM77.9 million cash.
The properties, each consisting of a three-storey shopoffice building with a land area of approximately 163 sq m, have an audited net book value of RM1.77 million each as of Dec 31, 2023.
Castaldi joined Sunway in 2017 as general manager of The Banjaran Hotsprings Retreat.
Nga indicated that there are only 594 licensed firms practising property management, serving 2.91 million strata units in the country.
The job could produce about RM29 million net profit over the next three years based on its usual margins, analysts said.
The police report was filed on April 1, as LSHSM was unable to take over the operations of the iconic tower from Hydroshoppe and its subsidiary MKLSB,
During the suspension period, executive deputy chairman Datuk Paduka Ammar Shaikh Mahmood Naim will assume full authority over the company's operational and managerial matters,
The only property app you need. More than 200,000
sale/rent listings and daily property news.
