MISC Bhd has secured a long-term tenancy agreement with Petroliam Nasional Bhd (PETRONAS) for office space at Menara Dayabumi in Kuala Lumpur, with the arrangement estimated to be worth RM433 million over a 15-year period.
In a filing with Bursa Malaysia, the energy-related maritime group said the renewed lease reinforces its long-standing presence in one of Kuala Lumpur’s most recognisable commercial landmarks while strengthening the company’s corporate identity and brand visibility.
The company noted that the agreement reflects its continued commitment to Menara Dayabumi and supports efforts to preserve buildings of historical significance within the capital city.
Under the agreement, the tenancy will commence with an initial three-year term, followed by four automatic renewal periods of three years each, bringing the total tenure to 15 years.
As part of the arrangement, PETRONAS has committed to undertaking extensive upgrades to the building’s common areas and facilities. The enhancement works are aimed at improving operational efficiency, elevating the overall user experience and ensuring the property meets current safety, environmental and sustainability standards.
MISC said the planned improvements will contribute to maintaining Menara Dayabumi’s position as a prominent and modern commercial building while enhancing its long-term value and functionality for tenants.
The company also disclosed that several recurrent transactions involving PETRONAS and MISC were carried out during the 12 months preceding the announcement, with a combined transaction value of RM65.81 million.
The latest lease renewal provides MISC with long-term occupancy certainty at its corporate headquarters while reinforcing its strategic relationship with PETRONAS, one of its key stakeholders and business partners.
