Equity Analysis /
Malaysia

MY : KLCCP Stapled Group - Robust retail performance in 1QFY22

    Sharizan Rosely
    Sharizan Rosely

    Construction and Infrastructure

    CGS-CIMB
    24 May 2022
    Published by

    1QFY22 results were in line; core net profit grew a decent 9.6% yoy. Suria KLCC’s tenant sales recovery outpaced the turnaround in retail footfall. MO recorded higher domestic-driven occupancy rate with lower losses. Retain Hold, with a higher TP (FY22-24F dividend yields of 4.8-5.4%).