MACC launches probe into KL Tower shares transfer

The MACC has launched an investigation into Telekom Malaysia Bhd's (TM) selling of its 10,000,000 shares in Menara Kuala Lumpur Sdn Bhd, the company that manages the iconic KL tower.

In a statement, the anti-graft agency said they are looking into whether there was any element of corruption in the move, which saw the shares transferred to a company called Hydroshoppe Sdn Bhd in October.

"MACC confirms that it is investigating an alleged suspicious selling of shares involving a company that manages Menara KL.

"MACC will investigate whether there was any element of corruption in the selling of 100 percent of TM shares in Menara KL Sdn Bhd to Hydroshoppe Sdn Bhd in October 2022," the commission said.

According to the statement, MACC investigators had so far interviewed three witnesses to facilitate the investigation.

They have also acquired a number of documents from relevant parties for the probe.

Earlier this week, netizens raised issues with the change of shareholding in Menara KL Sdn Bhd.

The deal also raised eyebrows because the subsidiary was purportedly very profitable and the buyer was not a well-known company.

TM in a statement earlier today said they decided not to continue holding the concession to manage Menara KL to focus on its core business, which is telecommunication services.

According to the government-linked company, the process to select a new concessionaire for Menara KL management was taken up by the government, which owns the tower.

TM sold KL Tower shares to focus on telco services

KL Tower shares transfer: Annuar says TM didn't need his permission

Top stories of 2022 - Malaysiakini readers' choice

MACC raids 8 GLCs, 9 companies over misappropriation claims

Annuar: MACC summoned me to explain source of Muhyiddin's funds

MACC to focus on RM92.5b govt funds in 'RM600b' probe

MACC calls for information over RM600b govt funds

Nothing to hide - Zafrul says no call from MACC on RM600b govt funds

RM600b funds: MACC opens investigation paper on alleged misappropriation

Rafizi: Going after Azam Baki? That’s not what I meant

Form RCI to probe alleged RM500 bil leakage, Harapan leaders urge govt

Wan Saiful: PM failed to guarantee no 'witch hunt' in civil service