Browse
Log in / Register
Share
May 9, 2026 — A Malaysian infrastructure group wants to open up Kuala Lumpur’s skyline with a new public square near KL Tower, and its chairman says a cable car connecting the city’s key attractions remains a long-term wish.
Lim Seong Hai Capital Bhd announced the proposed KL Tower Square during the week it completed its move to Bursa Malaysia’s Main Market. The group’s chairman, Tan Sri Datuk Seri Lim Keng Cheng, said the square would be built on an existing parking area along Jalan Raja Chulan, although the plan still needs official approval.
Lim said the current streetscape makes it difficult for pedestrians and tourists to actually see KL Tower from close range. The proposed square is meant to clear roadside obstructions and create a more direct sightline, improving both access and visitor experience around one of Kuala Lumpur’s most recognisable structures.
The project has not yet been given a formal green light, and Lim Seong Hai Capital did not disclose an estimated development cost or completion timeline. Publicly, the company is only describing the square as a concept under review.
The idea fits into a broader push across Kuala Lumpur to improve walkable public spaces around major landmarks. If approved, KL Tower Square could complement recent city-level initiatives such as the River of Life corridor and the revitalisation of older heritage zones, giving tourists and locals more reasons to linger rather than pass through.
Beyond the square, Lim said he hopes to introduce a cable car system that would connect KL Tower with other tourist and heritage attractions across the city. He described the concept as a personal dream that would make it easier for visitors to move between sites while enjoying aerial views of Kuala Lumpur.
But he was quick to stress that the cable car was not included in the original tender proposal. That distinction matters because Lim Seong Hai Capital, through subsidiary LSH Service Master Sdn Bhd, holds a 70% stake in the joint venture that operates and maintains KL Tower under a 20-year concession that began in April 2025.
In other words, the square sits within the group’s operational area of influence around the tower, while the cable car would be a much larger, cross-city transit project requiring separate approvals, land agreements and likely substantial private or public investment.
The KL Tower-related proposals are only part of the company’s bigger expansion story. Lim said the group is actively looking at major infrastructure opportunities, including the Mass Rapid Transit Line 3 (MRT3) project, highways, parking facilities and public transport systems.
With Malaysian infrastructure spending expected to accelerate over the next decade, Lim Seong Hai Capital wants to position itself as a meaningful contractor, not just a facilities manager. The company said it would keep bidding for construction work and teaming up with larger contractors to take on bigger developments.
One concrete sign of that ambition came in September, when the government agreed in principle to the group’s proposed RM1.75 billion Bandar Malaysia–Seri Kembangan Expressway under a build-operate-transfer model. That project would be a major step up in scale from the company’s existing portfolio and, if finalised, would give it long-term concession-related revenue.
Lim also set an aggressive financial target: a market capitalisation of RM10 billion within the next 10 years. He noted that the company previously aimed to grow its market value from RM50 million to RM1 billion in a decade, but reached that milestone in roughly four years.
That track record is part of the case he is making to institutional investors. Lim said the move to the Main Market should make the company more attractive to larger funds that typically avoid smaller, less liquid boards.
The company’s listing path reflects that growth. It first entered the LEAP Market for emerging companies, shifted to the ACE Market in March 2025, and completed its promotion to the Main Market this week. Each step gave it access to a wider investor base and higher visibility among analysts.
For US-based readers tracking Southeast Asian infrastructure, the KL Tower Square proposal is worth watching for two reasons.
First, it signals that Lim Seong Hai Capital is thinking beyond traditional construction. The group is already embedded in a nationally important landmark through its KL Tower concession. Adding a public square would strengthen its role as a place-making operator, not just an engineering contractor.
Second, the cable car idea, even if preliminary, hints at a larger strategic direction. Several cities in Asia and Latin America have used cable cars not only for tourism but also for urban mobility, such as Medellín’s Metro Cable or Hong Kong’s Ngong Ping 360. Kuala Lumpur’s topography, with its hilly stretches and dense heritage districts, makes it a plausible candidate for such a link, though no formal feasibility study has been announced.
Infrastructure policy experts note that high-profile projects like this often face long approval timelines, environmental assessments and complicated land negotiations. The fact that the cable car was not part of the original tender means it could require a new procurement process. Still, the idea could create another avenue for private-sector participation in KL’s tourism infrastructure.
For now, all eyes are on whether the KL Tower Square proposal receives formal approval. The group said it will continue to refine its plans and work with relevant authorities. No decision date has been announced.
Lim Seong Hai Capital’s broader push into everything from highways to MRT3 will likely be a bigger factor in its valuation than the square itself. But the KL Tower project carries a symbolic weight that pure infrastructure deals often lack, and it gives the company a visible presence in the heart of Malaysia’s capital.
That visibility could help Lim attract the kind of institutional investor confidence needed to pursue its RM10 billion market-cap target. If the square moves forward, it would also transform how visitors experience KL Tower, replacing an obstructed roadside view with an open civic space.
As of May 9, 2026, the proposal remains in the concept stage. The company has not released further details on funding, construction timing, or the feasibility of the cable car network. For investors and urban development watchers, the next announcement from Kuala Lumpur will be the clearest signal of whether this vision becomes a real project or stays a dream.
