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Yes......you're right, it's the former HSBC office. The whole area is undergoing some sort of urban rejuvenation currently. Even the old Sin Seng Nam coffee shop opposite the bar council that was closed down last year was restored beautifully and reopened under a new owner.
Whoa that's great man! It really deserves more than what it's getting now, but I think progress is coming, slowly but surely. Went there last month and the Bangkok Bank area was a big mess, looks like they're turning it into a square under the KL Heritage Trail, and and also the pavements were being upgraded.

This hotel should also promote itself as the site of Yap Ah Loy's former house too :banana:
 
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