Chief Minister Lim Guan Eng said the state wanted to bring back the past glory of the iconic tower.
“At one time, it was the main shopping centre. We want to bring back its shine,” he said after launching the construction of a banquet hall at Level Five in Komtar.
Lim said work was in progress for the rebranding of the 65-storey tower.
“After almost 30 years of neglect, most of the shoplots and office spaces for the private sector have been taken up,’’ he said.
The banquet hall is part of Komtar’s revitalisation initiative undertaken by the Only World Group, which was entrusted with the project by the state government and the Penang Development Corporation through open tender.
Apart from the banquet hall, this project will also include the construction of two external high speed observation bubble elevators.
Levels 59 and 60 as well as 64 and 65 will be refurbished into international-class sky dining restaurants including an outdoor dining area.
Only World chairman and chief executive officer Datuk Richard Koh said the restaurant would be installed with a transparent floor to provide an impression that the patrons were dining in the sky.
Only World has pledged over RM50mil for the project and Koh was confident that it could reap returns from this venture, owing to the state’s growing clout as a tourist destination.
He also spoke highly of Penang’s tourism sector if the state could develop new must-see attractions.
Penang’s Peak
Welcome to The Top at KOMTAR ( Kompleks Tun Abdul Razak ), the tallest building in Penang, and sixth tallest building in Malaysia. Completed in 1986, the tower has become revitalised and now a one-stop destination for the entire family. Home to a plethora of activities, retail and F&B outlets, The Top offers a new pulse to Georgetown all under one roof - and a breathtaking panoramic view of the surrounding island from its summit. That said, if you’re looking for a whirlwind-tour of the best Penang has to offer, look no further than The Top at KOMTAR.
A brief history
Named after the second prime minister of Malaysia - Tun Abduk Razak Hussein - construction of this landmark began in 1974, and it was, at the time considered a great feat in architecture and engineering. In fact, upon completion, KOMTAR enjoyed a short stint as the tallest building in Malaysia.
The Revitalized Icon
The Top @ KOMTAR is a revitalised urban icon which conceptualized and brought to life by Only World Group Holdings Sdn Bhd. Inspired by the strong and silent demeanour of the horse, Only World Group has been working behind the scenes, silently, in bringing people together and creating fond memories until present.
Fun, Food and Good Living
As the Group embraces the philosophy of “Fun,Food and Good Living”, it also make strides in operating and managing F&B and leisure related brands, found in popular resorts and shopping malls.
The Group ventures into good living by providing outlets to relax the body and revitalise the mind namely spas and other related activities. As the future beholds, Only World Group will continue to run ahead in affirming our position of being Only the Best in what we do.
With our experience, coupled with forward thinking leaders, we will implement the best business strategy and system in exploring new horizons to create more sparks that will excite the world in terms of “Fun, Food and Good Living”.
http://thetop.com.my/about-us/
GEORGE TOWN: The Penang Development Corp (PDC) will spend about RM40mil on renovation works at Komtar this year.
Datuk Ang Choo Hong, chief executive of PDC’s subsidiary PDC Urus Setia, said the works included maintenance of the air-conditioning system and closed-circuit television cameras, upgrading of stalls, parking and structure repairs.
“Renovation works at Komtar need to be done even though they involve heavy spending. The cost will increase in the future if nothing is done now,” he told reporters after a briefing on the renovation works in Penang on Friday.
He said in 2015, PDC received RM12.3mil in revenue from maintenance fees from tenants of Komtar.
“Every day, over 6,500 people visit the federal and state government offices located in the 65-storey building,” he said. - Bernama
Datuk Ang Choo Hong, chief executive of PDC’s subsidiary PDC Urus Setia, said the works included maintenance of the air-conditioning system and closed-circuit television cameras, upgrading of stalls, parking and structure repairs.
“Renovation works at Komtar need to be done even though they involve heavy spending. The cost will increase in the future if nothing is done now,” he told reporters after a briefing on the renovation works in Penang on Friday.
He said in 2015, PDC received RM12.3mil in revenue from maintenance fees from tenants of Komtar.
“Every day, over 6,500 people visit the federal and state government offices located in the 65-storey building,” he said. - Bernama
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KUALA LUMPUR: Only World Group Holdings Bhd (OWG) expects to complete the project to revitalise the 65-storey Komtar tower in Georgetown, Penang, in the second half of this year.
The operator of food outlets, water amusement parks and other family attractions, in its announcement on Monday, had said it would use RM48mil from the estimated gross proceeds of up to RM50.17mil from a private placement exercise to fund part of the cost of its Komtar revitalisation project, which has been expanded from the original plan.
On Wednesday, OWG gave further details to Bursa Malaysia on the revitalisation project that it clinched from the Penang Development Corp in December 2012 (prior to its listing in December 2014).
The Shah Alam-based company explained that the original Komtar revitalisation project involved the proposed refurbishment and enhancement of five specific levels within Komtar leased to OWG – levels 5, 59, 60, 64 and 65, with a total built-up area of 130,333 sq ft - to create high end commercial space for retail, food and beverages and recreational purposes.
OWG was granted a 45-year lease, with the option to extend the lease for another 15 years.
“Subsequently in 2015, additional floor (level 66) and new spaces (levels 3, 4 ,5 and 6) were added to the project which would at least double the total built-up area,” it said.
On Jan 18 when it announced the private placement, OWG gave the total cost to expand the Komtar revitalisation project as RM180mil, substantially higher than the original plan’s amount mentioned in its initial public offering (IPO) prospectus. The remaining cost of the project, which is expected to turn Komtar into an integrated tourism destination, would be funded via internally generated funds and bank borrowings, it said.
The operator of food outlets, water amusement parks and other family attractions, in its announcement on Monday, had said it would use RM48mil from the estimated gross proceeds of up to RM50.17mil from a private placement exercise to fund part of the cost of its Komtar revitalisation project, which has been expanded from the original plan.
On Wednesday, OWG gave further details to Bursa Malaysia on the revitalisation project that it clinched from the Penang Development Corp in December 2012 (prior to its listing in December 2014).
The Shah Alam-based company explained that the original Komtar revitalisation project involved the proposed refurbishment and enhancement of five specific levels within Komtar leased to OWG – levels 5, 59, 60, 64 and 65, with a total built-up area of 130,333 sq ft - to create high end commercial space for retail, food and beverages and recreational purposes.
OWG was granted a 45-year lease, with the option to extend the lease for another 15 years.
“Subsequently in 2015, additional floor (level 66) and new spaces (levels 3, 4 ,5 and 6) were added to the project which would at least double the total built-up area,” it said.
On Jan 18 when it announced the private placement, OWG gave the total cost to expand the Komtar revitalisation project as RM180mil, substantially higher than the original plan’s amount mentioned in its initial public offering (IPO) prospectus. The remaining cost of the project, which is expected to turn Komtar into an integrated tourism destination, would be funded via internally generated funds and bank borrowings, it said.
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