KLCC Property eyes 6-8% profit growth

KUALA LUMPUR: KLCC Property Holdings Bhd is eyeing between six and eight per cent growth in operating profit for the current financial year, says Chief Executive Officer Datuk Hashim Wahir.

He said the revenue growth would be driven by the restructuring in its Real Estate Investment Trust (REIT) and higher contribution from its office segment.

"We expect revenue contribution from the office segment to exceed 50 per cent by year-end from the current 44 per cent.

"This follows the completion of Menara 3 Petronas and the acquisition of a 49.5 per cent share in Petronas Twin Tower from KLCC Holdings Sdn Bhd," Hashim told reporters after the company's annual general meeting today.

The corporate restructuring consisted of existing shares of KLCC Property and units of KLCC REIT, which were traded as one security on the Bursa Malaysia Securities.

On securing an anchor tenant for its new retail and office space located at Lot D1, opposite the Mandarin Oriental Hotel, Hashim said the company hoped to sign up a tenant within this year. - Bernama