KLCCP Stapled Group Achieves Revenue OF RM1.2 Billion and Optimistic Seeing Progressive Recovery

KLCCP Stapled Group recorded a revenue of RM1.2 billion and a 3.2% increase in Profit Before Tax (PBT) for the financial year ended 31 December 2021, anchored by the stable office segment, with full occupancy and long-term leases

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.

In a statement after its Annual General Meeting , it said that  KLCCP Stapled Group is optimistic that 2022 will see progressive recovery in its business segments with the country’s transition to the endemic phase and as the economy revives and international borders reopen

It said that with a focus on business performance and operational resilience, KLCCP Stapled Group demonstrated its resilience with a PBT, excluding fair value adjustments of RM712.5 million, an increase of 3.2% compared to 2020, on the back of revenue of RM1.2 billion for the year. This was anchored on the Group’s stable office segment underpinned by full occupancy and long-term leases.
 
Though the year saw much less operational days from the various lockdowns and movement restrictions that impacted the retail and hotel segments, both these segments saw pick-up in momentum towards the final quarter of the year, capping the year with their best performance in December 2021.

The Group delivered sustainable value to its holders of Stapled Securities with a dividend of 33.60 sen per stapled security, amounting to a full-year dividend payment of RM606.6 million, 12% higher compared to 2020. The office segment remained the largest contributor to the Group’s earnings, contributing 49% of its total revenue.
 Encik Md. Shah Mahmood, the Chief Executive Officer of KLCCP Stapled Group commented, “2021 was a year centred on supporting the Group’s stakeholders. We prioritised our tenants’ and customers’ safety and wellness and retail partners’ survivability.

 The Group extended over RM127.1 million in rental assistance, 36% more compared to 2020 to ensure our retail tenants sustain their business and the mall’s occupancy is maintained”.

Moving into 2022, the Group expects to see progressive recovery across its business segments as the country transitioned into the endemic phase on April 1, 2022, and as the international borders have opened.

The return of the office tenants from November 2021 have been encouraging and is expected to progressively spur the retail and hotel operations. Suria KLCC will continue to deliver an unparalleled customer experience, bringing in first-to-market brands, to drive footfall and tenant sales.

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