Kl Tower Expos

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Government Documents Confirm Hydroshoppe Was the Approved Bumiputera Concessionaire
Malaysia Today now publishes previously unreleased government documents proving that Hydroshoppe Sdn Bhd was formally appointed as the successor to Menara Kuala Lumpur Sdn Bhd (MKLSB). This wasn’t a casual or verbal agreement it was backed by UKAS, KKM, and received Cabinet-level approval under Prime Minister 9 (PM9)
This is not speculation
This is what the documents say
A formal letter from UKAS to MKLSB copied to Hydroshoppe confirms that Hydroshoppe was approved to acquire 100% of MKLSB shares and liabilities as part of the restructuring. UKAS instructed that the transfer be completed by 31 October 2022. The memo confirms KKM and UKAS’s full endorsement of the plan. The memo explicitly states that Hydroshoppe was recognized as a 100% Bumiputera company and was to receive the 3rd Concession for an initial 15 years. Minutes from JKAS (Jawatankuasa Kerjasama Awam Swasta) reflect that 5 companies were invited to submit proposals. After an internal evaluation, Hydroshoppe was selected based on financial readiness, operational experience, and alignment with government interests. JKAS concluded that Hydroshoppe’s proposal was no less favourable than MKLSB’s original terms and recommended them for the 3rd Concession.
PM9  Ismail Sabri Yaakob signed off on the recommendation, officially endorsing the concession transfer. The PM’s handwritten notes confirm support for the “cadangan penstrukturan saham” with Hydroshoppe as the new operator.  

So Why Was It Canceled
By the time GE15 took place (19 November 2022), Hydroshoppe had: •Completed the 100% acquisition of MKLSB •Incurred over RM52 million in direct costs, including: •RM17.4 million for VM Lab works •RM35 million in CAPEX for tower upgrades •Retained all MKLSB employees as required •Absorbed RM314 million in arbitration liabilities •Paid over RM1.5 million per month in operational costs KKM had even met with Hydroshoppe in November 2022 to discuss extending the concession period to 30 years
Yet, in January 2024, KKM reversed course
The promised concession was cancelled
Instead, KKM opened a new Request for Proposal (RFP) and in May 2024, the crown jewel KL Tower was handed to Lim Seong Hai Service Master Sdn Bhd (LSHSM), a Chinese-owned company. On paper, they suddenly claimed 30% Bumiputera equity the usual Ali Baba trick to meet government quotas
A Clear Betrayal Hydroshoppe took the risk
Hydroshoppe carried the burden
Hydroshoppe did the work
But in the end, it was a non-Bumiputera company that reaped the rewards  debt free
To make matters worse, the government: •Refused to pay outstanding dues totalling over RM25 million •Forced Hydroshoppe to extend maintenance until March 2025 •Attempted a forcible takeover of KL Tower on Hari Raya 2025, using PDRM and DBKL, despite an active court injunction This is no longer a business dispute
This is abuse of power, and a betrayal of trust
The documents speak for themselves
Admin Malaysia Today The post KL Tower Exposé appeared first on Malaysia Today.

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