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June 19, 2024 -Wednesday

 
  KLCCP STAPLED GROUP GEARS FOR STRONGER GROWTH IN 2024

Wednesday 24/04/2024



KUALA LUMPUR, April 24 (Bernama) -- KLCCP Stapled Group held the KLCC Real Estate Investment Trust’s 11th Annual General Meeting and KLCC Property Holdings Berhad’s 21st Annual General Meeting (AGM) today, presenting to its shareholders the Group’s performance for the financial year ended 31 December 2023.  The AGM was held virtually and broadcasted live to the shareholders.

The AGM was chaired by Tan Sri Ahmad Nizam Salleh, Chairman of KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT).  At the AGM, Datuk Md. Shah Mahmood, Chief Executive Officer of KLCCP and KLCC REIT, shared the Group’s performance, business outlook and focus for this year.

A year of encouraging growth amid persistent challenges
 
For the year ended 31 December 2023, the Group recorded a commendable performance, registering a revenue growth of 11.0% from RM1.5 billion to RM1.6 billion, and Profit Before Tax (PBT) of RM1.2 billion. This is an increase of 16.5% compared to 2022, demonstrating excellent business growth momentum, underpinned by the resilience of the Group’s portfolio strength.  The Group also declared a distribution of 40.50 sen per stapled security, the highest recorded since the listing of Stapled Security.

The office segment comprising the PETRONAS Twin Towers, Menara 3 PETRONAS, Menara ExxonMobil and Menara Dayabumi, remained stable with sustained occupancy at 100%, contributing 36% of KLCCP Stapled Group's overall revenue.  These premium office portfolios, with quality tenants and a strong rental profile distinguished by green building ratings, continues to contribute steady cash flows for the Group.

The retail segment, represented by Suria KLCC and the retail podium of Menara 3 PETRONAS continued to provide engaging experience through its unique retail-entertainment concept, which boost customers satisfaction and loyalty. Suria KLCC’s occupancy reached its peak at 98% in December while footfall increased 30% compared to 2022.  Suria KLCC achieved the highest-ever MAT tenant sales, registering a 12% growth, during the year.​ The increase in tenant sales was particularly driven by Fashion, F&B, and General Retail.  During the year, Suria KLCC welcomed onboard 35 new tenants, which include first to market brands and exclusive to Suria KLCC. 

Mandarin Oriental, Kuala Lumpur (MOKUL Hotel), representing the hotel segment, tailored its marketing effort to captivate new customer segments, with a focus on enticing travellers from Singapore, China, and the United Kingdom.  The Hotel recorded its highest Average Room Rates and Revenue Per Available Room (RevPAR) in December 2023 supported by the higher YTD average occupancy of 55%.  This surge is attributed to strong Group bookings, with weekend and weekday occupancy averaging at 60%.  During the year, the hotel hosted over 600 events, including 29 weddings, further solidifying its position as the preferred venue for banqueting events and weddings. 

The management services segment comprising the facilities management and the car parking management services exhibited remarkable performance during the year, attributed to the successful completion of the Workplace for Tomorrow (WFT) office transformation for tenants and other several one-off works by the Group’s facilities management team and the expansion of an additional 1,680 new car parking bays across Putrajaya and Kuala Lumpur.​

Outlook for 2024
 
The Group expects the growth momentum to continue across all its business segments with heightened domestic and international MICE activities, events, and tourism.   While certain economic and industry challenges may persist and new ones may emerge, the company will maintain a cautious approach while adopting a more proactive stance in exploring potential opportunities that meet its business criteria.
 
“Aligned with our strategic framework, the Group will remain focus on strengthening our commercial and operational excellence to improve financial performance and elevate customer experience.  We are actively pursuing new business ventures and organic growth opportunities to position the Group for sustained success.  We are also heightening our investment in sustainability where we will be establishing a new roadmap as we seek to become a net zero carbon organisation by 2050.  We have established a Carbon Reduction Strategy and targets towards the adoption of the recommendations of the Task Force on Climate-related Financial Disclosures or TCFD,” said Datuk Md. Shah Mahmood, Chief Executive Officer of KLCC Property Holdings Berhad. 

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About KLCCP Stapled Group

KLCC Property Holdings Berhad (KLCCP) and KLCC REIT, collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets. KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the Index as a single price quotation.

With KLCCP Stapled Group's core business in property investment and development, the Group has a diverse property portfolio largely located within the Kuala Lumpur City Centre comprising prime Grade A office buildings, a premier retail mall and a luxury hotel. The stabilised and wholly owned assets namely PETRONAS Twin Towers, Menara ExxonMobil and Menara 3 PETRONAS are under KLCC REIT and the non-wholly owned assets and assets with development and redevelopment potential, Suria KLCC, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) are in KLCCP. KLCCP also has a 33% stake in Menara Maxis. 

KLCCP STAPLED GROUP 

Two of KLCCP's wholly owned subsidiaries, namely KLCC Urusharta Sdn Bhd and KLCC Parking Management Sdn Bhd, are engaged in providing facility management services and car parking management services respectively. The REIT Manager who is engaged to manage and administer KLCC REIT is internal and resides within KLCCP as a 100% owned subsidiary.
 
KLCCP Stapled Group is continuously recognised for its excellence in the industry for demonstrating strong environmental, social and governance practices. In pursuing its sustainability journey, the Group aligns its reporting to the United Nation's 2030 Agenda that revolves around the critical dimensions of Prosperity, Planet, People and Peace, in line with its commitment to contribute towards the United Nation's Sustainable Development Goals. For a better insight into the Group's ESG Profile and Disclosures, please visit ESG World at https://www.klcc.com.my/sustainability.php.
 
Issued by:
Group Strategic Communications and Investor Relations
 
24 April 2024
 
SOURCE:  KLCC (Holdings) Sdn Bhd

FOR MORE INFORMATION PLEASE CONTACT:
Name: Yasmin Abdullah
Manager, Corporate Communications
Group Strategic Communications and Investor Relations
KLCC (Holdings) Sdn Bhd
Tel: +60 2783 7584 
Email: yasmina@klcc.com.my 

--BERNAMA
 

 
 
 

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