$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research by Maybank
HOLD – TP RM 7.52

"Steady 1H24 performance”

2Q24 results and 2nd interim gross DPU of 9.2sen were in-line. Earnings growth was mainly driven by the office segment and higher occupancy for Suria KLCC. Our earnings forecasts and DDM-TP of MYR7.52 (Ke: 8%) are unchanged. HOLD. For retail REIT, we prefer Pavilion REIT (PREIT MK, BUY, CP: MYR1.39, TP: MYR1.55).

Analyst:
Nur Farah Syifaa
nurfarahsyifaa.mohamadfuad@maybank-ib.com