KUALA LUMPUR: KLCCP Stapled Group expects to see progressive recovery across its business segments in line with the country's transition into the endemic phase starting April 1, 2022, amid the reopening of international borders.

       KLCC Property Holdings Bhd chief executive officer Md Shah Mahmood said the return of office tenants from November 2021 had been encouraging and was expected to progressively spur the retail and hotel operations.

       "Suria KLCC, which has been on an upward trend, will continue to deliver an unparalleled customer experience bringing in first to market brands and leveraging digital technology, while Mandarin Oriental Hotel will continue to focus on domestic and regional leisure (activities) not only in terms of occupancy rates, but also events and food and beverages (F&B).

       "The management services segment is also gearing towards being a solution partner and continue innovating and enriching the customer experience,” he said in a press conference after KLCC Real Estate Investment Trust's (REIT) Ninth Annual General Meeting (AGM) and KLCC Property Holdings’ 19th AGM today.

       Meanwhile, in terms of operations, Md Shah said the group had created a refreshed Strategic Agenda, which included re-evaluating its portfolio of assets to capitalise on their growth trajectory, as well as the group's commitment towards sustainability to build on the momentum for a brighter year ahead.

       "2021 was a year centred on supporting the group’s stakeholders. We prioritised our tenants and customers’ safety and wellness and retail partners’ survivability.

       "The group extended over RM127.1 million in rental assistance, 36 per cent more compared with 2020, to ensure our retail tenants were able to sustain their business, while maintaining the mall’s occupancy,” he added.

       The group made a distribution of 33.60 sen per stapled security in 2021, up 12 per cent from 2020.

       KLCCP Stapled Group, comprising KLCC Property Holdings (KLCCP) and KLCC REIT, is Malaysia’s largest self-managed stapled security that invests, develops, owns and manages a stable of iconic and quality assets.

       The group represents a diversified office-focused REIT comprising five Grade-A offices which include the nation’s iconic landmark, the Petronas Twin Towers, Suria KLCC and Mandarin Oriental Hotel. - Bernama