Listed on 9 May 2013, KLCC Stapled Group (KLCCSS) is the first and only stapled security listed on Bursa Malaysia. As its name suggests, it owns and generates recurring income from a portfolio of iconic properties situated within Kuala Lumpur City Centre (KLCC). As I write, its investment properties are worth RM15.7 billion, making KLCCSS the biggest REIT listed in Malaysia.
In this article, I’ll bring an update on its financial results, growth plans, and valuation. Here are 11 things to know about KLCC Stapled Group before you invest.
1. In the last 12 months, KLCCSS generated RM595.9 million in revenue from its office portfolio which comprises PETRONAS Twin Towers, Menara 3 PETRONAS, Menara ExxonMobil, Menara Dayabumi, and a 33% stake in Menara Maxis. The office portfolio has maintained revenues at around RM150 million per quarter since listing and remains a stable source of revenue for KLCCSS.