Merdeka 118 and the Maybank Logo Controversy: A Clash of Branding and National Pride

Standing tall at 678.9 metres, Merdeka 118 is the world’s second-tallest building, behind only Dubai’s Burj Khalifa. The tower has been celebrated as a new symbol of Malaysia’s ambition, architectural prowess, and national pride.

But recently, this global icon has found itself at the centre of a heated debate—not about its height or design, but about a bold Maybank logo now illuminated at its peak.

The Backlash: Does the Logo Ruin the Aesthetic?

For many Malaysians, the Maybank logo came as a surprise and, to some, an eyesore.

On Threads, social media users quickly voiced their discontent:

• “That Merdeka 118 tower looks completely off with the Maybank logo slapped on top. Even the Burj Khalifa doesn’t have branding at the top of the building!”

• Others argued that the logo diminishes the architectural purity of the landmark, reducing it to a corporate billboard.

• Some felt the building’s stature as a national icon should not be overshadowed by branding.

One netizen put it bluntly:

“Tourists will just call it ‘the new tallest building in Malaysia’ instead of Merdeka 118, because to them, it’s not significant. It only holds meaning for Malaysians.”

To critics, Merdeka 118’s global symbolism should have remained untouched—its design representing Malaysia’s independence and modernity, rather than corporate sponsorship.

Defenders of the Decision

Not all voices were critical. Some Malaysians felt the uproar was overstated:

• The logo doesn’t change the function, presence, or impact of Merdeka 118.

• Branding is common practice for anchor tenants in skyscrapers worldwide.

• Maybank’s presence affirms the building’s commercial viability, which is crucial for such a massive investment.

In essence, the debate is a clash of perspectives: cultural symbolism vs business practicality.

Maybank’s Move to Merdeka 118

Behind the logo lies a strategic business decision. On September 12, Maybank and Permodalan Nasional Berhad (PNB) issued a joint statement confirming the relocation of Maybank’s head office to Merdeka 118.

Key points from the tenancy agreement:

• Anchor Tenant: Maybank will occupy 33 floors, housing about 5,900 employees.

• Lease Term: Initial 3 years, renewable for six more terms of 3 years, totalling 21 years.

• Naming & Signage Rights: As the main tenant, Maybank secured exclusive rights for branding at the tower.

• Dedicated Entrance: A private access point will streamline staff and visitor movement.

PNB emphasised that the decision followed “careful and robust deliberations” regarding Maybank’s future operational needs.

Meanwhile, Maybank’s existing headquarters at Menara Maybank, Jalan Tun Perak, will remain operational, ensuring continuity of services.

Rental Terms: How Much is Maybank Paying?

Maybank’s tenancy is not just symbolic — it’s also a significant financial commitment. According to filings and reports:

• Leased Space: ~650,000 sq ft across 33 floors.

• Initial Gross Rent: RM10.60 psf per month (first six years).

• Net Effective Rent: RM8.92 psf per month after incentives.

• Annual Rental Estimate:

  • Gross basis ≈ RM82.7 million per year.

  • Net effective basis ≈ RM69.6 million per year.

This makes Maybank one of the largest single office tenants in Malaysia, ensuring PNB enjoys a stable anchor income stream from Merdeka 118. For Maybank, the rent reflects both brand value and operational needs, supported by signage rights and prestige that come with being the tower’s main tenant.

Branding Rights in Skyscraper Culture

Globally, skyscraper branding is common practice:

• Bank of China Tower (Hong Kong) carries its corporate name.

• Commerzbank Tower (Frankfurt) showcases its anchor tenant.

• Chrysler Building (New York) is remembered for its corporate heritage.

In many cases, anchor tenants are granted signage rights as part of long-term leases. From this perspective, the Maybank logo on Merdeka 118 is consistent with international norms.

The controversy, however, is amplified by Merdeka 118’s unique status as a national symbol, with its name tied directly to Malaysia’s independence (“Merdeka”).

Property Market Implications

1. Commercial Confidence in Merdeka 118

Maybank’s move confirms the commercial strength of the tower, which faced skepticism during its construction phase. With a heavyweight financial institution as anchor tenant, Merdeka 118 gains credibility as a Grade A office destination.

2. Spillover Demand in Surrounding Areas

The tenancy of 5,900 Maybank staff will boost demand for:

• Residential rentals in areas like Bukit Bintang, Pudu, and Kampung Attap.

• Retail and F&B outlets within and around Merdeka 118.

• Co-located office space for businesses servicing Maybank and PNB.

3. Comparative Advantage Against TRX

While Tun Razak Exchange (TRX) has positioned itself as KL’s international financial district, Merdeka 118 now emerges as another heavyweight commercial precinct. Investors may view it as a dual-anchor model: TRX for global firms, Merdeka 118 for national institutions.

4. Branding Impact on Property Perception

While locals may debate aesthetics, international tenants are more likely to be reassured by Maybank’s presence, which signals stability and occupancy momentum.

The Symbolism Question

At its core, the Maybank logo debate raises deeper questions:

• Should national icons remain free of corporate branding?

• How do we balance commercial realities with cultural symbolism?

• Will Malaysians eventually embrace the logo as part of Merdeka 118’s identity, just as KLCC is associated with Petronas?

The Petronas Twin Towers offer a parallel. Initially controversial as corporate-branded towers, they are now embraced globally as Malaysia’s architectural pride. It is possible that Merdeka 118 will undergo a similar acceptance curve.

Conclusion

Merdeka 118 was built to be a landmark of national pride, and its towering height cements Malaysia’s place on the global architectural stage. The addition of the Maybank logo has triggered passionate debate: for some, it diminishes the tower’s symbolism; for others, it reflects the realities of corporate tenancy in the modern property market.

What is clear is that Maybank’s tenancy ensures Merdeka 118 will thrive as a functional business hub rather than an empty monument. For property investors, the move signals commercial viability, rising demand, and spillover opportunities across Kuala Lumpur’s city centre.

As with the Petronas Twin Towers, time may soften the controversy. Whether Malaysians ultimately view the Maybank logo as an intrusion or a symbol of corporate strength, Merdeka 118 will continue to stand tall as an icon of Malaysia’s ambition and urban future.