Lim Seong Hai Service Master Sdn Bhd (LSHSM), a newly formed company linked to the politically connected Lim family, secured the 20-year concession for KL Tower, raising questions about the transparency of the process. The Bumiputera company, Hydroshoppe, which previously managed the tower and invested significantly in its upkeep, was overlooked. LSHSM, formed after the tender closed, is majority-owned by LSH Capital, a company run by the Lim family and currently undergoing aggressive expansion. The acquisition of KL Tower, a national icon, provides LSH Capital with prestige and a substantial revenue stream without any initial investment.
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