KLCC REIT net profit up 33.1% in fourth quarter

Despite a challenging market outlook, KLCC REIT said it continued to remain resilient on the back of long-term profile of office leases and the positive results from the retail segment from the reconfiguration exercise in Suria KLCC.

KUALA LUMPUR: KLCC Real Estate Investment Trust’s (KLCC REIT) net profit for the fourth quarter ended Dec 31,2019 rose 33.1% to RM244.41mil from RM183.66mil a year ago, mainly due to property investment in the retail sector and hotel operations segment.

In a filing with Bursa Malaysia, the group said revenue was down by 0.3% to RM364.96mil from RM366.34mil a year ago due to its retail and management services segment.