[%uTJY%]
Research by CGS
HOLD – TP RM7.62

"Higher profits from retail and hotel segments”

■ 1HFY24 core net profit of RM379.1m was in line with expectations, as we anticipate stronger earnings in 2HFY24F.
■ The stronger yoy earnings were driven by higher revenue from both retail and hotel segments. KLCCP declared a higher dividend of 9.2 sen for 2QFY24.
■ Retain Hold call, with an unchanged DDM-based TP of RM7.62. This note marks the transfer of coverage to Lucas Tan

Analyst:
Lucas TAN
[%gLrC%]
CHONG Tjen-San, CFA
[%MrNU%]

$KLSE-KLCC
Research by CGS
HOLD – TP RM7.62

"Higher profits from retail and hotel segments”

■ 1HFY24 core net profit of RM379.1m was in line with expectations, as we anticipate stronger earnings in 2HFY24F.
■ The stronger yoy earnings were driven by higher revenue from both retail and hotel segments. KLCCP declared a higher dividend of 9.2 sen for 2QFY24.
■ Retain Hold call, with an unchanged DDM-based TP of RM7.62. This note marks the transfer of coverage to Lucas Tan

Analyst:
Lucas TAN
lucas.tan@cgsi.com
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)