KUALA LUMPUR, April 13 (Bernama) -- KLCCP Stapled Group held the KLCC Real Estate Investment Trust’s 9^th Annual General Meeting and KLCC Property Holdings Berhad’s 19^th Annual General Meeting (AGM) today, presenting to its shareholders the Group’s performance for the financial year ended 31 December 2021.  Due to concerns for the health & safety of the shareholders, the Meeting was held in a virtual mode under strict Covid-19 Standard Operating Procedures (SOPs) and broadcasted live to the shareholders.
 
Highlights of FY2021
 
• 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

• Distributed 33.60 sen per stapled security, 12% higher compared to 2020, testament to the Group’s continued commitment to the holders of Stapled Securities
 
• 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

Delivering A Sustained Performance for Our Stakeholders
 
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 which 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”.
 
Accelerating the Pace for Recovery and Growth
 
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. Equipped with a digital roadmap, the mall will leverage digital technology in delivering an experiential shopper experience.  Mandarin Oriental, Kuala Lumpur will continue to focus on the domestic leisure market and as the borders globally reopen, it is expected to ramp-up in the Asia Pacific region.  The hotel will continue its efforts on its digital outreach through direct marketing channels and be innovative in its offerings and strategic collaborations to position towards the future of hospitality. The management services segment, comprising facilities management and car parking management is also gearing itself towards being a solutions partner in keeping the properties and facilities in pristine condition with continued innovation in enriching the experience of office tenants and the car-parking customers.
 
With a refreshed Strategic Agenda and completion of a group-wide transformation, KLCCP Stapled Group is positioning itself as a customer centric organisation, in driving its commercial, project and operational excellence. The Group’s commitment towards sustainability is reflected in the new fit for purpose structure where the Group Strategy & Sustainability Division will play the role of orchestrating the strategic direction towards achieving its sustainability targets and in driving its climate change agenda.
 
“With the fast pick-up in economic activities and the reopening of international borders, we are confident that these will further drive recovery, particularly for our retail and hotel segments.  The positive outlook of the REITs and market trends will further support our Strategic Agenda as we re-evaluate our existing portfolio of assets and explore new potential quality assets to position for growth and build on the momentum for a brighter year ahead.” 

Md. Shah Mahmood,                                                              
Chief Executive Officer, KLCC Property Holdings Berhad 

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