KLCCP Stapled Group is the largest REIT in Malaysia with a market capitalisation of RM13.6 billion as of May 2024. It owns several prime office and retail assets in Kuala Lumpur including the iconic PETRONAS Twin Towers and Suria KLCC shopping mall that are tourists’ favourites.
Here are seven things I learned from the 2024 KLCCP Stapled Group AGM.
- Revenue increased 11.0% year-on-year to RM1.6 billion in 2023 as all business segments emerged stronger 2023.Likewise, net profit excluding other non-controlling interests increased 19.0% year-on-year to RM931.1 million in 2023. Dividend per stapled security increased 6.6% from 38.0 sen in 2022 to 40.5 sen in 2023. As shown below, dividend per stapled security in 2023 has reached an all-time high.
Source: KLCCP Stapled Group
- As usual, the office segment is the primary contributor to the group’s profit before tax, followed by the retail segment.In 2023, profit before tax contributions from the management services and hotel segments remained minimal.
Source: KLCCP Stapled Group...
