TM sold KL Tower shares to focus on telco services

Telekom Malaysia Berhad (TM) today said it decided not to continue holding the concession for Menara KL management because the company wants to focus on its core business, which is telecommunication services.

In a statement, the government-linked company also refuted claims that the plan was made hush-hush, saying that the changes in shareholding of Menara Kuala Lumpur Sdn Bhd, the company that managed Menara KL, had informed Bursa Malaysia via TM’s financial announcement for the third quarters of 2022.

“As part of its business transformation programme...