The group, which comprises the KLCC Property Holdings Bhd (KLCCP) and KLCC REIT, has reported a quarterly profit before tax (PBT) of RM236.4 million, up 7.8% compared with the corresponding quarter last year.

Revenue for the quarter was RM394.6 million, up 12.7% year-on-year (y-o-y) from RM350.3 million, driven by significant growth in the hospitality and management services segments, the group said in a statement issued today.

It saw an upswing in meetings, incentives, convention and exhibition (MICE) as well as business activities during the quarter.

The group said the improved performance was the result of various efforts such as curated marketing promotions and initiatives in driving stronger customer experience and footfalls.

The group’s hotel Mandarin Oriental, Kuala Lumpur saw its occupancy rise to 48% in Q2 2023 compared with 43% in Q2 2022. It also recorded a surge in MICE and banqueting activities.

The hotel saw a 39.2% y-o-y pick-up in top-line activities in Q2 2023 helped by promotional offerings.

The facilities and car park management services segment saw revenue and PBT increase by 43.7% and 33.3% respectively.

The retail segment, comprising Suria KLCC and the retail podium of Menara 3 Petronas, recorded a revenue of RM128.5 million, up 2.6% y-o-y, while PBT rose to RM97.2 million.

Lastly, the office segment, backed by the triple net lease (TNL) arrangement and long-term leases of office assets such as the Petronas Twin Towers, Menara 3 Petronas, ExxonMobil and Menara Dayabumi, recorded higher revenue and PBT of RM145.4 million and RM119.6 million respectively.

CEO Md Shah Mahmood said KLCCP Stapled Group would continue to focus on operational excellence, capitalising on the upswing in tourism, MICE activities, rising consumer demand for events and improving economic climate.

The group declared a dividend of 8.80 sen per stapled security, up 10% y-o-y, bringing the total to 17.30 sen for the first half 2023.