PUTRAJAYA, May 29 — Communications Minister Fahmi Fadzil today said that LSH Best Builders Sdn Bhd and ⁠Service Master (M) Sdn Bhd will manage KL Tower for the next 20 years in a joint venture.

He said this was decided through a request for proposal (RFP) process after five companies submitted their tenders.

"KL Tower was previously managed by one company. After five companies submitted their tenders through the RFP process by the Public Private Partnership Unit (Ukas) and the government, the Cabinet agreed today that LSH Best Builders Sdn Bhd and Service Master Malaysia Sdn Bhd would be awarded the project.

"They entered a joint venture and were found to have met the requirements with no issues. They also passed the screening process for integrity,” he told reporters during a press conference at his ministry, here.

Fahmi said the next step in the process is the issuance of a letter to the successful tenderers, which will also state the takeover date for the building’s concession.

KL Tower was previously managed by Telekom Malaysia (TM) through its subsidiary Menara Kuala Lumpur Sdn Bhd (MKLSB) by Hydroshoppe Sdn Bhd.