Saham: KLSE-KLCC - PT. Klcc Property Holdings Berhad

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research Report by MAYBANK

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research Report by CGSI

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research Report by HLIB

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research by Maybank

KLCCP Stapled Group appoints Salem Kailany as CEO

KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) and KLCC REIT Management Sdn Bhd (KLCCRM) have appointed Datuk Sr Mohd Salem Kailany as its new chief executive officer (CEO) effective Nov 1, 2024, succeeding Datuk Md. Shah Mahmood.

Former UDA president named as CEO of KLCC Property, KLCC Reit

KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) and KLCC Reit Management Sdn Bhd (KLCC Reit) have appointed Datuk Sr Mohd Salem Kailany as their chief executive officer (CEO) effective Nov 1, succeeding Datuk Md. Shah Mahmood.

© New Straits Times Press (M) Bhd

Sometimes, the best ideas are the most boring, in plain sight - as people call it no brainer. 😂

Merdeka just passed and Malaysia Day coming soon. So I'm feeling a little patriotic.

Has anyone looked at $KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD) ? I still remember @jmoney mention in passing that it has a good moat but I did not read too much into it. It’s 10% YTD (just looking at capital gains. have not factor in dividends)

Some news earlier this year that they plan to acquire remaining 40% equity interest in Suria KLCC worth RM1.95bil, and that they are on active lookout to expand portfolio for 2024 onwards.

But with the recent headlines about sinkhole appearing in Kuala Lumpur, makes you think again about all the properties in Kuala Lumpur.

Thoughts?

Some News Source:
https://cutt.ly/UeWhjgmA
https://cutt.ly/geWhjhbF

1/2

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
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)
Research by RHB
Neutral– TP RM 8.20

"Stable Performance”

Keep NEUTRAL, with new DDM-derived MYR8.20 TP from MYR7.96, 5% upside and c.6% yield. KLCCP Stapled’s 1H24 results were in line with expectations, with its earnings driven by the retail and hospitality segments. Gearing ratio is at 32% post acquisition of the remaining 40% stake in Suria KLCC on 23 Apr – we think further acquisitions would be a positive to drive the group’s inorganic growth, as rental growth for its existing assets may be stable but limited.

Analyst:
Wan Muhammad Ammar Affan
ammaraffan@rhbgroup.com
Loong Kok Wen CFA
loong.kok.wen@rhbgroup.com

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research by HLIB
HOLD– TP RM7.50

"Results inline”

KLCC’s 2Q24 core net profit of RM191.1m (+1.6% QoQ; +5.7% YoY) brought 1H24 sum to RM379.1m (+4.9% YoY). The results were within ours and consensus estimates. Results were rather commendable despite 2Q typically being a slower quarter, as Retail and Hotel remained strong. Looking ahead, 2H24 earnings will be underpinned by (i) stable contributions from Office and Management Services; (ii) sustained Retail contribution from higher local and tourist footfall; and (iii) robust Hotel performance as tourist arrivals continue to improve. Maintain HOLD with an unchanged TP of RM7.50

Analyst:
Tan Je Jyne
jjtan@hlib.hongleong.com.my

$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

$KLCC / 5235SS (KLCC PROPERTY HOLDINGS BERHAD)
Research by MIDF
NEUTRAL – TP RM7.50

"Keeping abreast of market demand”
• 1HFY24 earnings within expectations
• Earnings remain stable in 1HFY24
• Earnings forecast maintained
• Maintain NEUTRAL with an unchanged target price of RM7.50

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my