Menara Citibank
Encyclopedia
Menara Citibank, or Citibank Tower, is an office tower located close to the Petronas Twin Towers
and houses the headquarters of Citibank (Malaysia)
. The building was developed by The Lion Group and completed in 1995, and was originally named Menara Lion or Lion Tower until Citibank acquired a 50% stake and moved into the building in 2000.
The building is owned by Inverfin Sdn Bhd, which is in turn, equally owned by Hap Seng Consolidated Bhd and Menara Citi Holding Co. Hap Seng Consolidated obtained its 50% stake in Inverfin in August 2009 from CapitaLand
(30%) and Amsteel Corp Bhd (20%) (a Lion Group subsidiary), following IOI Group
’s decision not to proceed with the acquisition of the same which it had bid for a year earlier. In May 2010, Hap Seng Consolidated indicated its interest to acquire the remaining 50% stake in building sometime in the future.
Petronas Twin Towers
The Petronas Towers are skyscrapers and twin towers in Kuala Lumpur, Malaysia...
and houses the headquarters of Citibank (Malaysia)
Citibank (Malaysia)
Citibank Berhad is a licensed bank operating in Malaysia and a division of Citi of the United States of America. The bank was incorporated in the country in 1994 but has been present since 1959.The institution offers retail and corporate banking services....
. The building was developed by The Lion Group and completed in 1995, and was originally named Menara Lion or Lion Tower until Citibank acquired a 50% stake and moved into the building in 2000.
The building is owned by Inverfin Sdn Bhd, which is in turn, equally owned by Hap Seng Consolidated Bhd and Menara Citi Holding Co. Hap Seng Consolidated obtained its 50% stake in Inverfin in August 2009 from CapitaLand
CapitaLand
CapitaLand Limited is the result of a merger in the year 2000 of then DBS Land and Pidemco Land. It is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's core businesses are real estate development, hospitality and real estate financial services...
(30%) and Amsteel Corp Bhd (20%) (a Lion Group subsidiary), following IOI Group
IOI Group
IOI Corporation Berhad commonly referred to as IOI, was incorporated on 31 October 1969 as Industrial Oxygen Incorporated Sdn Bhd. IOI is one of Malaysia's biggest conglomerates that started off from industrial gas manufacturing. It ventured into property development in 1982, followed by oil palm...
’s decision not to proceed with the acquisition of the same which it had bid for a year earlier. In May 2010, Hap Seng Consolidated indicated its interest to acquire the remaining 50% stake in building sometime in the future.