PETALING JAYA: KLCCP Stapled Group’s net profit in the second quarter ended June 30 fell by over 22% year-on-year (y-o-y) after the performance of its hotel and retail segments deteriorated sharply due to the movement control order (MCO).
KLCCP Stapled, which comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (KLCC REIT), told Bursa Malaysia that its net profit was RM140.46mil as compared to RM180.38mil a year earlier.
The retail segment’s pre-tax profit plunged by 50% in the second quarter, largely due to rental assistance to tenants in response to the MCO and lower internal digital advertising income.
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