KLCC Property Holdings Berhad (KLCCP) was incorporated and listed in Malaysia in 2004. In 2013, a corporate restructuring exercise was undertaken by stapling KLCCP to KLCC REIT to form the existing KLCCP Stapled Group.

KLCC REIT owns PETRONAS Twin Towers, Menara ExxonMobil, and Menara 3 PETRONAS. KLCCP owns a property portfolio that includes Suria KLCC mall (60%-owned); Mandarin Oriental, Kuala Lumpur (75%-owned); Kompleks Dayabumi; Menara Maxis (33%-owned); and Lot D1, a vacant plot of land adjacent to Mandarin Oriental.

Therefore, as at 31 December 2018, KLCCP Stapled Group has eight properties with a combined gross floor area of over 11 million square feet valued at RM15.7 billion.

Here are seven things I learned from the 2019 KLCCP Stapled Group AGM:

1. Revenue improved marginally year-on-year by 2.9% to RM1.4 billion but net profit weakened by 17.2% year-on-year from RM1.0 billion in 2018 –a five-year low. Distribution per stapled security