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Type | Public limited company |
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MYX: 5235SS | |
ISIN | MYL5235SS008 |
Industry | |
Founded | 7 February 2004 |
Headquarters | , Malaysia |
Key people |
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Services |
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Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Website | www |
KLCC Property Holdings Berhad (KLCCP; MYX : 5235SS) is a Malaysian property investment company which owns and manages office, retail and hotel properties in Kuala Lumpur, mainly in the Kuala Lumpur City Centre (KLCC) area. Among the properties owned or managed by the company and its stapled real estate investment trust are the Petronas Twin Towers (the tallest buildings in the world from 1998 to 2004), Suria KLCC, the Mandarin Oriental Kuala Lumpur and Menara Maxis.
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 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 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 of RM12 billion in June 2015. [2]
KLCC Property Holdings is the property investment arm of Malaysia's national oil company, Petronas. In 2004, Petronas sold a 46% interest in KLCCP in one of the largest initial public offerings in Malaysia that year. [3]
In 2013, the company undertook a corporate restructuring in which it injected the Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil into the newly created KLCC REIT. [4] 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 real estate investment trust in Malaysia. [5] The stapled securities were re-listed on the Main Market of Bursa Malaysia Securities Berhad in May 2013. [6] The REIT – which is sharia-compliant – is managed by KLCC REIT Management Sdn Bhd, a wholly owned subsidiary of KLCCP. [7]
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). [8] 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. [9]
It is also looking to redevelop the area surrounding the Dayabumi Complex, including constructing a 60-storey hotel, office and retail building known as Dayabumi. [10]
KLCCP Stapled Group has four main business segments: Property investment - Office, Property investment - Retail, Hotel operations, and Management services. [1]
KLCC REIT's portfolio comprises Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil, with a combined net lettable area of 4.5 million square feet. [11]
Other properties held by KLCCP include the Dayabumi Complex on Jalan Sultan Hishamuddin, the Mandarin Oriental Kuala Lumpur (75%), the Suria KLCC shopping centre (60%) and Menara Maxis (33%). [12]
The Petronas Towers, also known as the Petronas Twin Towers or KLCC Twin Towers, are 88-storey supertall skyscrapers in Kuala Lumpur, Malaysia, standing at 451.9 metres. From 1998 to 2003, they were officially designated as the tallest buildings in the world until they were surpassed by the 2004 completion of the Taipei 101. The Petronas Towers are the world's tallest twin skyscrapers and remained as the tallest buildings in Malaysia until 2022, when they were surpassed by the Merdeka 118. The Petronas Towers are a major landmark of Kuala Lumpur, along with the nearby Kuala Lumpur Tower and Merdeka 118, and are visible in many places across the city.
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, Malaysia.
YTL Corporation Berhad is a Malaysian infrastructure conglomerate, founded in 1955 by Yeoh Tiong Lay, after whom the group is named. YTL Corporation Berhad is an integrated infrastructure developer with extensive operations in countries including Malaysia, Singapore, the United Kingdom, Australia, France, Indonesia, Japan, Jordan, Myanmar, the Netherlands, Thailand and Vietnam. The company has grown from a small construction firm into a global infrastructure company generating over RM18 billion in revenues with over 70 percent coming from overseas.
Sunway Berhad or Sunway Group is a Malaysian conglomerate company. It was formed following a merger between Sunway City Berhad (SunCity) and Sunway Holdings Berhad on 23 August 2011.
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.
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.
Jalan Ampang or Ampang Road is a major road in Klang Valley region, Selangor and Federal Territory of Kuala Lumpur, Malaysia. Built in the 1880s, it is one of the oldest roads in the Klang Valley. It is a main road to Ampang Jaya and is easily accessible from Jalan Tun Razak or Jalan Ulu Klang from the Hulu Kelang or Setapak direction. It is also accessible from Cheras through Jalan Shamelin, from Jalan Tun Razak through Jalan Kampung Pandan via Taman Cempaka, from Kampung Pandan through Jalan Kampung Pandan Dalam via Taman Nirwana, from the Kuala Lumpur Middle Ring Road 2 via Pandan Indah & Taman Kencana and from Hulu Langat town through the mountain pass. Wangsa Maju, Setapak, central Kuala Lumpur, Ampang Park and Salak South surround Ampang. Jalan Ampang became the backbone of the road system linking Ampang to Kuala Lumpur before being surpassed by the Ampang–Kuala Lumpur Elevated Highway (AKLEH) , in 2001.
KLCC LRT station is an underground rapid transit station in Kuala Lumpur, Malaysia, served by the Kelana Jaya Line.
Maxis Tower is a 49-storey, 212 m (696 ft) office skyscraper in Kuala Lumpur City Centre, Kuala Lumpur, Malaysia. The tower serves as headquarters of Maxis Communications and Tanjong Plc Group of Companies.
AmBank Group comprises AMMB Holdings Berhad is one of the largest banking groups in Malaysia whose core businesses are retail banking, wholesale banking, Islamic banking, and life and general insurance.
CIMB Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region.
Citibank Berhad is a licensed commercial bank operating in Malaysia with its headquarters in Jalan Ampang, Kuala Lumpur. Citibank Berhad operates as a subsidiary of Citigroup Holding (Singapore) Private Limited, commencing its banking operations in Malaysia since 1959. Citibank Berhad was locally incorporated in 1994.
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 257-meter high building also features a 10-meter high crown on the top of the tower, making it 267-meter high. The building features a 6-level extension to the Suria KLCC shopping mall, while the rest of the floors above are solely made up of office spaces. It is the headquarters of Petronas Carigali, the E&P subsidiary of Petronas and some of the local subsidiaries of Multinational Corporations such as Microsoft Malaysia. Along with the Kuala Lumpur Convention Centre and the Binjai On The Park condominiums, the development of Lot C falls under Phase 2 of the KLCC project. Its development cost is reported at RM1 billion.
The Troika is a three-tower, luxury condominium development in Kuala Lumpur, Malaysia, located at the corner of Jalan Binjai and Persiaran KLCC, opposite PNB Darby Park, behind Menara Citibank and Intercontinental Hotel.
KL Eco City, or KLEC for short, is a 25-acre integrated mixed-use development project in the city of Kuala Lumpur, Malaysia. The project is built at the site of former Haji Abdullah Hukum Village. The mixed development project is helmed by S P Setia Berhad under a joint-venture agreement with the Kuala Lumpur City Hall (DBKL). It is built in stages comprising 3 residential towers, one serviced apartments tower, 3 corporate office towers, 12 boutique office blocks and a retail mall.
United Overseas Australia Ltd is a property development and investment company whose operations are based mainly in Malaysia. The group's parent company is incorporated in Australia and listed on the Australian Securities Exchange and the Singapore Exchange. It has developed and constructed various commercial and residential projects in the Klang Valley, most notably the mixed-use Bangsar South district within Kuala Lumpur.
Permata Sapura Tower is a skyscraper located at the Kuala Lumpur City Centre (KLCC) in Kuala Lumpur, Malaysia. The skyscraper has a height of 252.5 metres with 53 floors. The construction of the skyscraper was completed in 2020 and is currently among the tallest skyscrapers in Malaysia.