PETALING JAYA: Telekom Malaysia (TM) Bhd’s iconic Menara TM is on the market for an undisclosed amount, The Malaysian Insight reports.
According to an ad in The StarBiz today, Menara TM’s sale is being conducted via expression of interest and the closing date for the sale’s first stage is at 12pm on March 18.
Meanwhile, in an immediate response, TM has clarified that the company does not own the said building and is not involved with its intended sale by its owner, Menara ABS Bhd.
“Telekom Malaysia Bhd (”TM” or “the Company”) would like to clarify that the company is a tenant of Menara TM, located at Jalan Pantai Baharu, Kuala Lumpur.
“TM does not own the said building and is not involved with its intended sale by the property’s owner, Menara ABS Bhd,“ it said in a statement today.
TM also further revealed that it is in the process of relocating the majority of its corporate offices into its TM-owned properties.
“The Company is currently in the process of relocating the majority of its corporate offices into its TM-owned properties, including TM Annexe 1 and TM Annexe 2 as well as its properties in Cyberjaya, as part of the Company’s optimisation programme to enable greater efficiency and agility, and to accommodate hybrid working conditions,“ the statement read.
The 55-storey freehold iconic tower was completed in 2001 and is located along Jalan Pantai Baharu, Kuala Lumpur.
It was designed by Hijjas Kasturi Associates to resemble a sprouting bamboo shoot and cost US$160 million (RM669 million) to build.
It was officially launched in 2003 by then prime minister Tun Dr Mahathir Mohamad and holds a Multimedia Super Corridor status.
A total of 989,000 sq ft of the building consist of office towers, while 92,431 sq ft comprise convention centres, multi-purpose halls, a sports complex, mosque and helipad, among others.
Realtors WTW Real Estate Sdn Bhd have been appointed to conduct the sale of the building.