KLCC Property Holdings Berhad (KLCCP; ) is a Malaysian

property investment Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. Some investors actively ...

company which owns and manages office, retail and hotel properties in

Kuala Lumpur , anthem = '' Maju dan Sejahtera'' , image_map = , map_caption = , pushpin_map = Malaysia#Southeast Asia#Asia , pushpin_map_caption = , coordinates = , su ...

, mainly in the

Kuala Lumpur City Centre Kuala Lumpur City Centre (KLCC) is a multipurpose development area in Kuala Lumpur, Malaysia. KLCC refers to the area within and surrounding the KLCC Park but the term has also been widely used by buildings nearby to the vicinity. Designed to ...

(KLCC) area. Among the properties owned or managed by the company and its stapled

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

are the

Petronas Twin Towers The Petronas Towers, also known as the Petronas Twin Towers or KLCC Twin Towers, ( Malay: ''Menara Berkembar Petronas'') are 88-storey supertall skyscrapers in Kuala Lumpur, Malaysia, standing at . From 1998 to 2003, they were officially desig ...

(the tallest buildings in the world from 1998 to 2004),

Suria KLCC Suria KLCC is a 6-story shopping mall located at the foot of the Petronas Twin Towers. Suria KLCC is a premier shopping destination with over 300 flagship stores. The shopping mall is situated in Kuala Lumpur City Centre, Kuala Lumpur, Malaysi ...

, the

Mandarin Oriental Mandarin Oriental Hotel Group International Limited (MOHG) is a Hong Kong hotel investment and management group focusing on luxury hotels, resorts, and residences, with a total of 33 properties worldwide, 20 of which are fully or partially ow ...

Kuala Lumpur and

Menara Maxis Maxis Tower ( ms, Menara Maxis) is a 49-storey, office skyscraper in Kuala Lumpur City Centre, Kuala Lumpur, Malaysia. The tower serves as headquarters of Maxis Communications and Tanjong Plc Group of Companies. Maxis Tower was developed by ...

. The company, along with KLCC Real Estate Investment Trust (KLCC REIT) – which it manages – form the KLCCP Stapled Group. KLCCP shares are stapled with KLCC REIT units; the stapled securities are listed on Main Market of Bursa Malaysia Securities Berhad. The group is 75%-owned by

Petronas Petroliam Nasional Berhad (National Petroleum Limited), commonly known as Petronas, is a Malaysian oil and gas company. Established in 1974 and wholly owned by the Government of Malaysia, the corporation is vested with all oil and gas reso ...

through direct and indirect interests. KLCCP was incorporated in 2004 as a vehicle to offer a portion of Petronas's property holdings to the

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkei ...

. 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 a

net asset value Net asset value (NAV) is the value of an entity's assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. Shares of such funds registered with the U.S. Securities and Exc ...

of RM12 billion in June 2015.

History

KLCC Property Holdings is the

arm of Malaysia's national oil company,

. In 2004, Petronas sold a 46% interest in KLCCP in one of the largest

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

s in Malaysia that year. In 2013, the company undertook a corporate restructuring in which it injected the

Petronas Tower 3 Petronas Tower 3, also known as Carigali Tower, is a 60-story, 267-meter-tall skyscraper in KLCC, Kuala Lumpur, Malaysia. It is Malaysia's eighth tallest building and it is also part of the Petronas Towers complex. The 246-meter high buildin ...

and Menara ExxonMobil into the newly created KLCC REIT. Consequently, the shares of KLCCP and units of KLCC REIT were stapled (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 a

in Malaysia. The stapled securities were re-listed on the Main Market of Bursa Malaysia Securities Berhad in May 2013. The REIT – which is sharia-compliant – is managed by KLCC REIT Management Sdn Bhd, a wholly owned subsidiary of KLCCP. 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). KLCC Holdings is currently developing an office building and Fairmont 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. It is also looking to redevelop the area surrounding the

Dayabumi Complex The Dayabumi Complex () is a major landmark in Kuala Lumpur, Malaysia. It houses several commercial facilities and is one of the earliest skyscrapers in the city. History Previously, it was a site of Malayan Railway workshops and depots from t ...

, including constructing a 60-storey hotel, office and retail building known as Dayabumi.

Portfolio

KLCCP Stapled Group has four main business segments: Property investment - Office, Property investment - Retail, Hotel operations, and Management services. KLCC REIT's portfolio comprises

and Menara ExxonMobil, with a combined net lettable area of 4.5 million square feet. Other properties held by KLCCP include the

on Jalan Sultan Hishamuddin, the

Kuala Lumpur (75%), the

shopping centre (60%) and

(33%).

References

External links

*
KLCC Property Holdings Berhad (MYX: 5089)
bursamalaysia.com {{authority control 2004 establishments in Malaysia Companies based in Kuala Lumpur Petronas Property companies of Malaysia Malaysian companies established in 2004 Real estate companies established in 2004 Companies listed on Bursa Malaysia Government-owned companies of Malaysia