KLCC Property 2Q Net Profit Rises To RM204.42 Mln

KUALA LUMPUR, Aug 26 (Bernama) --  KLCC Property Holdings Bhd’s net profit for the second quarter ended June 30, 2026 (2Q 2026) increased to RM204.42 million from RM200.45 million a year earlier.

Revenue also climbed to RM415.72 million from RM410.25 million previously.

In a filing with Bursa Malaysia, the company said the quarter's performance was supported by improved rental rates for Menara Exxon Mobil and steady contributions from the retail and management services segments. 

“Moreover, the successful refinancing exercise for sukuk murabahah under KLCC REIT during the quarter has resulted in lower financing costs,” it said. 

KLCC Property said office segment profitability remained stable, backed by triple net lease arrangement and long-term leases, while its retail segment reported revenue and profit before tax (PBT) of RM143.7 million and RM114.3 million, respectively, during the quarter, driven by healthy rental rates and better occupancy at Menara 3.

“The higher PBT (in retail segment) reflected the segment’s strength driven by strategic curation of tenant mix,” it said.

Besides, the revenue and PBT for management services increased by 3.9 per cent and 2.7 per cent, respectively, mainly driven by higher car park income following the expansion of parking operations and higher planned maintenance service activities delivered by KLCC Urusharta during the quarter. 

Meanwhile, for hotel operations, the company said Mandarin Oriental Kuala Lumpur reported lower revenue of RM46.7 million and loss before tax of RM2.2 million during the quarter amid the ongoing hotel room renovation. 

For the six months, net profit strengthened to RM408.62 million from RM401.93 million, while revenue surged to RM827.50 million from RM817.16 million.

On prospects, the company said the operating environment for the second half of 2026 is expected to remain challenging, shaped by prolonged geopolitical tensions in West Asia, contributing to volatility in energy prices, supply chains and operating costs. 

“Notwithstanding these external headwinds, the group is expected to remain resilient, supported by domestic demand, tourism and event-related activities.

“In navigating these challenges, the group will continue to focus on operational excellence, asset value enhancement and responsiveness to evolving market conditions and customer expectations,” it added.

-- BERNAMA