KUALA LUMPUR: TELEKOM MALAYSIA BHD []'s unit Menara Kuala Lumpur Sdn Bhd (MKLSB) will be paid RM60.5 million for a period of ten years to government operate, manage and maintain Menara Kuala (MKL) and the MKL land that comprises five lots of Federal lands.
TM said this on Wednesday, March 16 in a reply to Bursa Malaysia Securities.
Yesterday, MKLSB signed a ten-year concession agreement with the government operate, manage and maintain Menara Kuala (MKL) and the MKL land that comprises five lots of Federal lands.
TM said the maintenance fees was for a period of ten years from June 1, 2009 until May 31, ''2019, which will then be subject for review by the government.
Under the Concession Agreement, MKLSB is responsible to manage and operate the Tower in accordance with the approved standard of telecommunication and broadcasting tower, as well as a tourism and hospitality centre.
TM yesterday said MKLSB was awarded with the concession by the government based on its record in the tower operation creatively and innovatively in line with the government's vision for the past 15 years based on the previous concession agreement dated Sept 3, 1991.
This project was the first privatisation project of the government using the concept of build, operate and transfer (BOT) in 1994, it said.
MKL also serves as Radio Television Malaysia's (RTM) television and FM-radio broadcasting station.
It also enables efficient tracking services for the Marine, Meteorological and Traffic Control departments.
In addition, the tower is also one of Malaysia's official sites to observe crescent moon to determine the start of Ramadhan or the Muslim's fasting month. It acts as one of Malaysia's Islamic falak observatory.
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TM said this on Wednesday, March 16 in a reply to Bursa Malaysia Securities.
Yesterday, MKLSB signed a ten-year concession agreement with the government operate, manage and maintain Menara Kuala (MKL) and the MKL land that comprises five lots of Federal lands.
TM said the maintenance fees was for a period of ten years from June 1, 2009 until May 31, ''2019, which will then be subject for review by the government.
Under the Concession Agreement, MKLSB is responsible to manage and operate the Tower in accordance with the approved standard of telecommunication and broadcasting tower, as well as a tourism and hospitality centre.
TM yesterday said MKLSB was awarded with the concession by the government based on its record in the tower operation creatively and innovatively in line with the government's vision for the past 15 years based on the previous concession agreement dated Sept 3, 1991.
This project was the first privatisation project of the government using the concept of build, operate and transfer (BOT) in 1994, it said.
MKL also serves as Radio Television Malaysia's (RTM) television and FM-radio broadcasting station.
It also enables efficient tracking services for the Marine, Meteorological and Traffic Control departments.
In addition, the tower is also one of Malaysia's official sites to observe crescent moon to determine the start of Ramadhan or the Muslim's fasting month. It acts as one of Malaysia's Islamic falak observatory.
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