The Malaysian Insight

THE Malaysian Anti-Corruption Commission (MACC) has begun investigating into the alleged deal involving the ownership transfer to manage the iconic KL Tower. 

MACC chief commissioner Azam Baki confirmed the matter to The Malaysian Insight but declined to reveal more information about the investigation. 

“Yes, MACC has opened investigation papers (on the sale of KL Tower management ownership).

“We have started investigations,” he said. 

Earlier in the week, the issue of Telekom Malaysia (TM) selling off its 10 million shares in Menara Kuala Lumpur Sdn Bhd, which manages the iconic tower, had gone viral.

It was alleged that TM had let go of its holding on the subsidiary, purportedly making good profits, to a less-known company called Hydroshoppe, just before the general election. 

A Twitter account (@FreeMsia) claimed Menara Kuala Lumpur Sdn Bhd was making RM66 million of revenue pre-pandemic, of which RM25 million was registered as net profit.

On Monday, Communications and Digital Minister Fahmi Fadzil said that Putrajaya will be scrutinising the deal involving the sale of KL Tower. 

Fahmi said he views the matter seriously, and that he will receive a comprehensive briefing on the matter from Telekom early next week.  

“I take seriously the issues raised on social media as well as the questions asked by the media regarding the takeover of the management of KL Tower from TM, through its subsidiary Menara Kuala Lumpur Sdn Bhd, to Hydroshoppe Sdn Bhd.

“I have received a detailed briefing regarding the KL Tower management concession from the Communications and Digital Ministry on December 14.   

“I will also receive a comprehensive briefing on this matter from Telekom on January 3,” Fahmi said. 

A check with the Companies Commission of Malaysia (SSM) revealed that Hydroshoppe Sdn Bhd is a general trading company incorporated on February 15, 2008.

The company is based in Shah Alam, Selangor with a total issued share capital of RM1 million.

The two listed directors are Abdul Hamid Shaikh Bin Abdul Razak Shaikh and Nazarina Binti Mohamed Nasir, with 500,000 shares each.

Annuar Musa’s dismissal of sale ‘irresponsible’

Yesterday, former minister Annuar Musa distanced himself from the purported deal.  

The former Ketereh MP said he was not involved in Telekom’s decision to sell the subsidiary that managed KL Tower.  

He said the deal involved a public-listed company and not the government. 

“Nothing to do with the communications minister,” Annuar said

“Go ask TM. If the company was making RM25 million in profit, why didn’t they want to keep it instead of selling it off?” he asked.

Malaysia Corruption Watch (MCW) president Jais Abdul Karim said that the former communications and multimedia minister was being very irresponsible by blatantly dismissing such matters. 

“By right he (Annuar) should be aware of such sensitive matters as it involves an iconic asset of Malaysia. 

“He cannot just wash his hands off this matter because it happened during his time as a minister. He should cooperate on this matter,” the MCW founder told The Malaysian Insight. – December 29, 2022.