Suria KLCC shrugs off competition from new malls, with occupancy rate hitting 98% at end-2023
Suria KLCC recently become a wholly owned subsidiary of KLCCP, after it bought the remaining 40% stake in the mall for RM1.
Suria KLCC recently become a wholly owned subsidiary of KLCCP, after it bought the remaining 40% stake in the mall for RM1.
In a note, Kenanga Investment Bank Bhd said it is optimistic about KLCCP's prospects in the upcoming quarters, bolstered by the office division's robust 100% occupancy rate as of end-December 2023, increase in hotel operation’s occupancy ratio from 52% to 55%, and improved performance in the management services due to the rise in transient and season car park customers.
The group — comprising KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust — saw quarterly revenue grow 7.
There are currently 20 "buy" calls and only one "sell" call on Gamuda, with a 12-month average target price (TP) of RM5.
Research houses said the group's financial earnings for the quarter came in within their expectations, thanks to all segments of the group, particularly its hotel and management segments, showing strong financial performance for the quarter.
The group — comprising KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (KLCC REIT) — saw quarterly revenue grow 7.
"The group has expressed interest in exploring global assets to add to its portfolio, but would prioritise improving the efficiency of its local operations first.
"These office assets continued to anchor the group’s stable performance, recording an increase in revenue and PBT of RM145.
Sime Darby Property said demand for its landed property remains strong with an average take-up rate of 80% as of end-March 2023.
The group — comprising KLCCP and KLCC REIT — saw quarterly revenue grow 18.