KUALA LUMPUR (Oct 8): Lim Seong Hai Capital Bhd (KL:LSH) is planning to develop a new public square near KL Tower to improve access and attract more tourists, while also hoping to introduce a cable car connecting the landmark with other attractions in Kuala Lumpur.
The proposed KL Tower Square would be developed at an existing parking area along Jalan Raja Chulan, although the project is still awaiting approval, said the group's non-independent non-executive chairman Tan Sri Datuk Seri Lim Keng Cheng.
"At the moment, people can't see KL Tower," Lim said at a press conference following the group's transfer to Bursa Malaysia's Main Market on Thursday.
He said the group plans to remove existing roadside obstructions and develop a new square to give visitors a better view of the tower.
Lim also expressed hopes of introducing a cable car system that could connect KL Tower with other tourist and heritage attractions around Kuala Lumpur.
"It's my dream to use a cable car to bring all the tourist attractions and all the heritage attractions," he said.
However, Lim clarified that the cable car was not included in the original tender proposal, indicating that the idea remains an aspiration rather than a confirmed development.
The group did not disclose the estimated development cost of KL Tower Square or provide a firm completion timeline.
Lim Seong Hai Capital is involved in managing KL Tower through LSH Service Master Sdn Bhd, a joint venture in which its subsidiary holds a 70% stake. The venture secured a 20-year concession to operate, manage and maintain the landmark beginning in April 2025.
Separately, Lim said the group is looking to participate in more major infrastructure developments, including the Mass Rapid Transit Line 3 (MRT3) project, highways, parking facilities and public transport infrastructure.
He said the company would continue pursuing construction opportunities and collaborating with other contractors to undertake larger developments.
In September, the group announced that the government had agreed in principle to its proposed RM1.75 billion Bandar Malaysia-Seri Kembangan Expressway under a build-operate-transfer model.
Meanwhile, Lim said the group is targeting a market capitalisation of RM10 billion within the next 10 years, following its rapid expansion since its initial listing.
He noted that the company had previously aimed to grow its market value from RM50 million to RM1 billion over 10 years but achieved the milestone in about four years.
Lim expressed confidence that the group could continue expanding by pursuing larger projects and attracting more institutional investors following its transfer to the Main Market.
Lim Seong Hai Capital made its Main Market debut on Thursday, having previously transferred from the LEAP Market to the ACE Market in March 2025.