KLCC Reit

KLCC Reit

Postby winston » Sun Sep 14, 2014 8:00 pm

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KLCCP eyes RM1bil assets, plans acquisitions to boost Reit portfolio BY INTAN FARHANA ZAINUL
April 18, 2014

PETALING JAYA: KLCC Property Holdings Bhd (KLCCP) aims to buy up to RM1bil assets this year to increase the size of its real estate investment trust (Reit) assets portfolio.

“We have the capacity to acquire RM1bil assets, and the type of assets we are looking should be in line with our profile and located in the golden triangle as well as meeting our shareholders value accretion,” said KLCCP group chief executive officer Datuk Hashim Wahir.

He said the group had obtained its shareholders’ approval to issue new shares up to 10% of the paid capital for the potential acquisition.

KLCCP comprises KLCCP Group and KLCC Reit. KLCCP and KLCC REIT is traded as a security known as the KLCC Stapled Securities (KLCCSS) listed under the Reit sector.

“At the current share price, we would be able to raise slightly more than RM1bil, and we will carry out the exercise once we found the assets,” Hashim said after KLCC REIT and KLCCP AGMs.

Currently, the KLCCSS has share base of 1.8 billion shares and a market capitalisation of RM11.5bil.

Yesterday, KLCCSS’ shares were unchanged at RM6.35 with 1.43 million traded.

KLCCP has assets worth more than RM15bil. The Reit portion portfolio includes the Petronas Twin Towers, Menara ExxonMobil and Menara 3 Petronas, valued at RM8.8bil.

KLCCP Group has Suria KLCC, Mandarin Oriental, Kompleks Dayabumi and Lot D1 under its stable.

Hashim said KLCCP was in the midst of “sprucing up” the Kompleks Dayabumi area, including to build a 60-storey building on the site where City Point was.

“We will take down City Point and develop a building that has hotel, office space and some retail space,” said.

Hashim declined to elaborate on the proposed building but said he expected works to commence in mid-2015.

He added that the group had already secured the anchor tenant for the proposed building.

On the proposed retail and office space Lot D1 in the KL City Centre area, Hashim said the group was still looking for its anchor tenant before embarking on the project.

“It is very challenging but we hope to secure it by this year.”

The group preferred to have multinationals as the anchor tenant of Lot D1, and the proposed development would take four years to complete, Hashim said.

Source: The Star
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Re: KLCCSS

Postby winston » Sun Sep 14, 2014 8:19 pm

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KLCC REIT Q2 earnings double to RM186m
August 21, 2013

KUALA LUMPUR: KLCC Real Estate Investment Trust's (KLCC REIT) earnings doubled to RM186.63mil in the second quarter ended June 30, 2013 from RM91.65mil a year ago.

It said on Wednesday revenue rose 9.4% to RM315.78mil from RM288.61mil while earnings per share increased to 10.86 sen from 9.81 sen. It rewarded shareholders with a dividend of 7.45 sen a share compared with 4.0 sen a year ago.

KLCC REIT also benefited from a lower tax of RM7.03mil compared from RM44.91m a year ago.

For the first half, its earnings rose 42.1% to RM274.60mil from RM193.11mil in the previous corresponding period. Revenue rose 10.9% to RM626.22mil from RM564.45mil.

KLCC REIT said revenue from office rental increased by RM20.9mil (16.6%) in Q2, 2013 primarily due to the renewal of the triple net lease for the Petronas Twin Towers for another 15 years effective Oct 1, 2012.

Revenue from retail rental increased by RM10.8mil due to higher rates from renewals, improved occupancy and higher percentage rents.

As for its hotel operations, revenue decreased by RM4.7mil mainly due to lower contribution from food and beverage when compared with a year ago where there was a once-off World Gas Conference event in June 2012.

Source: The Star
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Re: KLCCSS

Postby winston » Sun Sep 14, 2014 8:23 pm

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Sterling debut by KLCC REIT on Bursa Malaysia BY WONG WEI-SHEN
August 23, 2013

PETALING JAYA: KLCC Real Estate Investment Trust (KLCC REIT), the country’s largest REIT, rose 43 sen to close at RM7.68 on its debut on Bursa Malaysia yesterday.

The trust, a stapled REIT that bundles existing shares of KLCC Property Holdings Bhd (KLCCP) and units of KLCC REIT, saw its units gaining as much as 50 sen during the day to hit an intra-day high of RM7.75 from its initial reference price of RM7.25.

The REIT, which has assets in excess of RM15bil, had a market capitalisation of RM13.865bil as at 5pm yesterday, seeing 3.04 million units being traded on its first day.

In a Bernama report after a press conference following the REIT’s listing, KLCCP chief executive officer Hashim Wahir was quoted as saying that with the REIT’s asset class, the company expected to gain the attention of an increasing number of high-quality investors.

The REIT’s portfolio includes the Petronas Twin Towers, Menara ExxonMobil and Menara 3 Petronas, all of which are wholly owned by Petroliam Nasional Bhd (Petronas). Both Petronas Twin Towers and Menara ExxonMobil have a 100% occupancy rate. Menara 3, meanwhile, has a 100% occupancy rate for its office portion and 93.9% for its retail portion.

KLCCP has Suria KLCC, Mandarin Oriental, Kompleks Dayabumi and Lot D1 in its portfolio.

Hashim said the group was now focusing on the redevelopment of Kompleks Dayabumi and a 0.6ha land near the 75%-owned Mandarin Oriental Hotel.

The group was currently in the process of securing anchor tenants for the projects, he said. “We are open to talking on the assets that are currently under us to be injected into the REIT as well,” he added.

In November last year, KLCCP, the REIT manager, had announced that it would be restructuring to form the stapled REIT. Shareholders gave KLCCP the green light to go ahead with the stapled REIT at the company’s EGM last month.

With its substantial assets, KLCC REIT now holds the distinction of being Malaysia’s biggest REIT, relegating Sunway REIT to second spot.

KLCCP shares closed at RM7.25 on April 22 prior to its suspension the following day.

Analysts had earlier said that the REIT would provide investors with an alternative yield play.

The group aims to pay out more than 90% of its distributable income as dividends.

Source: The Star
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Re: KLCC Reit

Postby winston » Sun May 10, 2015 7:32 pm

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KLCC REIT Q1 pre-tax profit falls to RM230.93m

5 MAY 2015

KUALA LUMPUR: KLCC Real Estate Investment Trust’s (REIT) pre-tax profit decreased to RM230.93 million for the first quarter ended March 31, 2015 from RM243.68 million registered in the same period last year.

Revenue also fell to RM326.89 million from RM340.88 million previously.

In a filing to Bursa Malaysia, it attributed the drop in profit to the lower contribution from its property investment for office and retail, hotel operations as well as management services.

On prospect, KLCC REIT expected its performance for the office and retail segments to remain stable this year, while the hotel segment would continue to tread in a challenging environment due to weak market demand and the scheduled renovation works at the hotel.

Source: BERNAMA

http://www.nst.com.my/node/83148
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