Business

KLCC Property Holdings’ pre-tax profit rises to RM1.57b in Q3

November 27, 2012

Cyclists pedal their way past the Petronas Twin Towers during the last stage of the Tour de Langkawi in Kuala Lumpur in this file photo of February 15, 2009. KLCC Property Holdings Bhd posted a pre-tax profit of RM1.57 billion for its third quarter ended Sep 30, 2012. – Reuters picCyclists pedal their way past the Petronas Twin Towers during the last stage of the Tour de Langkawi in Kuala Lumpur in this file photo of February 15, 2009. KLCC Property Holdings Bhd posted a pre-tax profit of RM1.57 billion for its third quarter ended Sep 30, 2012. – Reuters picKUALA LUMPUR, Nov 27 – KLCC Property Holdings Bhd posted a pre-tax profit of RM1.567 billion for its third quarter ended Sep 30, 2012.

The company which has adjusted its financial year ending from March 31, to December 31 from April 1, 2011, reported a revenue of RM282.877 million for the quarter.

As for performance sector wise, revenue from its property investment sector increased by RM21.7 million from the previous corresponding period to RM125.5 million in the quarter, primarily due to the recognition of rental revenue from Menara 3 PETRONAS and upward rent revisions in Menara Dayabumi and Menara ExxonMobil, the company said in a statement today.

Revenue from its retail investment during the period increased to RM94.3 million with improved revenue from Suria KLCC arising from space reconfiguration and higher rental rates secured for renewals.

Revenue from its hotel division showed an improvement of RM12.6 million for the nine months ended Sept 30,2012 due to overall better performance achieved from the rooms segment and stronger demand from food and beverages.

The group’s management services recorded a higher revenue by RM3.6 million in the quarter reviewed mainly due to the combination of first time facilities management services at Menara 3 PETRONAS and inclusion of new car parking locations.

The group expects results for the remaining 2012 period to be stable due to long term office tenancies, and expected improvement in occupancy of recently completed retail space. – Bernama

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