The land premium for the Kuala Lumpur and Selangor Chinese Assembly Hall was earlier estimated at nearly RM4.67 million. (KLSCAH pic)PETALING JAYA: The government has approved a 99-year lease renewal for the Kuala Lumpur and Selangor Chinese Assembly Hall (KLSCAH).

The land premium has been fixed at a nominal RM1,000, a significant reduction from the earlier estimated premium of nearly RM4.67 million, Bernama reported.

Federal territories minister Hannah Yeoh, in a Facebook post today, said the decision reflected the government's commitment to safeguard Kuala Lumpur's historical landmarks and ensure institutions of heritage significance can continue to serve future generations.

She said the nominal premium was approved following Prime Minister Anwar Ibrahim's commitment to give special consideration to the preservation of the historical building, after visiting the hall during a Chinese New Year celebration on Feb 17.