 | |
| Company type | Public |
|---|---|
| MYX:5235SS | |
| ISIN | MYL5235SS008 |
| Industry | |
| Founded | 7 February 2004; 22 years ago (2004-02-07) |
| Headquarters | , Malaysia |
Key people |
|
| Services |
|
| Revenue |  RM8.35 billion (2020)[1] |
| RM3.501 billion (2020)[1] | |
| RM2.516 billion (2020)[1] | |
| Total assets | RM16.80 billion (2020)[1] |
| Total equity | RM13.85 billion (2020)[1] |
| Website | www |
KLCC Property Holdings Berhad (KLCCP) is a Malaysianproperty investment company which owns and manages office, retail and hotel properties inKuala Lumpur, mainly in theKuala Lumpur City Centre (KLCC) area. Among the properties owned or managed by the company and itsstapledreal estate investment trust are thePetronas Twin Towers (thetallest buildings in the world from 1998 to 2004),Suria KLCC, theMandarin Oriental Kuala Lumpur andMenara Maxis.
The company, along withKLCC Real Estate Investment Trust (KLCC REIT) – which it manages – form theKLCCP Stapled Group. KLCCP shares arestapled with KLCC REIT units; the stapled securities are listed on Main Market ofBursa Malaysia Securities Berhad. The group is 75%-owned byPetronas through direct and indirect interests.
KLCCP was incorporated in 2004 as a vehicle to offer a portion of Petronas's property holdings to thepublic. In 2013, the company undertook a corporate restructuring, which involved the transfer of three prime real estate office properties, including the Petronas Towers, into the newly formed KLCC REIT. KLCCP Stapled Group is the largest REIT in Malaysia with anet asset value of RM12 billion in June 2015.[2]
KLCC Property Holdings is theproperty investment arm of Malaysia's national oil company,Petronas. In 2004, Petronas sold a 46% interest in KLCCP in one of the largestinitial public offerings in Malaysia that year.[3]
In 2013, the company undertook a corporate restructuring in which it injected thePetronas Twin Towers,Petronas Tower 3 andMenara ExxonMobil into the newly created KLCC REIT.[4] Consequently, theshares of KLCCP and units of KLCC REIT werestapled (at a ratio of 1 share for every 1.8 million units) to create the KLCCP Stapled Group. The transfer of the properties was done to take advantage of income tax exemption for earnings by areal estate investment trust in Malaysia.[5] The stapled securities were re-listed on the Main Market ofBursa Malaysia Securities Berhad in May 2013.[6] The REIT – which issharia-compliant – is managed by KLCC REIT Management Sdn Bhd, a wholly owned subsidiary of KLCCP.[7]
The group has first right of refusal to acquiring future developments by its majority shareholder, KLCC Holdings Sdn Bhd (the 100%-owned property development subsidiary of Petronas).[8] KLCC Holdings is currently developing an office building andFairmont Hotel with Qatari Diar REIT (Lot 185) and an office building on Lot 91 with Sapura Resources Berhad. Both are located in the KLCC area.[9]
It is also looking to redevelop the area surrounding theDayabumi Complex, including constructing a 60-storey hotel, office and retail building known as Dayabumi.[10]
KLCCP Stapled Group has four main business segments: Property investment - Office, Property investment - Retail, Hotel operations, and Management services.[1]
KLCC REIT's portfolio comprisesPetronas Twin Towers,Petronas Tower 3 andMenara ExxonMobil, with a combined net lettable area of 4.5 million square feet.[11]
Other properties held by KLCCP include theDayabumi Complex on Jalan Sultan Hishamuddin, theMandarin Oriental Kuala Lumpur (75%), theSuria KLCC shopping centre (60%) andMenara Maxis (33%).[12]
