Overview
About KIP REIT
KIP Real Estate Investment Trust (KIP REIT) was listed on Bursa Malaysia 2017 with the principal investment policy of investing in income producing real estate used for retail and from 2022 onwards, it includes industrial properties. It may also invest in other investments as permissible under the REIT Guidelines or permitted by the security commission, including Real Estate-Related Assets. Ultimately, KIP REIT's principal investment objective is to provide Unitholders with regular and stable income distributions through real estate-related assets producing sustainable income and capital growth. As of 29 February 2024, it has a total net lettable area of 2.21 million square feet and total asset under management of RM1.05B. The nature of its investments are long-term. As of 4 April 2024, KIP REIT’s market capitalization stands at RM550 million.
KIP REIT Management Sdn Bhd is the Manager of KIP REIT. The Manager's main responsibility is to manage KIP REIT's assets and liabilities for the Unitholders’ benefit, set the strategic direction of KIP REIT and give recommendations to the Trustee on acquisitions, divestments and enhancements of assets in accordance with KIP REIT’s stated investment strategy.
KIP REIT’s retail portfolio consists of 7 community-centric neighbourhood malls, known as a ‘KIPMall’ and 1 AEON Mall. The ‘KIPMall’ name today is well-established as a leading one-stop shopping haven for medium income groups and to the mass market for daily necessities at affordable prices. It houses a combination of food and beverage shops, local retail chain retailers, general merchandise stores, convenience stores, telecommunication shops, jewellery shops, a food court, a fresh market and services such as hair salons, cobblers, locksmiths and tailors. Further, the KIPMall provides other facilities such as banking and money changing facilities, an indoor playground, push-cart kiosks, a promotion/exhibition area and free ample parking space.
As part of its diversification strategy, KIP REIT has expanded to the industrial sector through the acquisition of 3 industrial properties located at Pulau Indah Klang, Selangor. KIP REIT will continue to look for value-accretive industrial assets which will provide a sustainable business model through stable rental yield and capital appreciation in line with KIP REIT’s investment strategies, while still focusing on its core strengths in the management of its retail assets.
9MFY2024
ASSET UNDER MANAGEMENT
(as of March 2024)
MARKET CAPITALIZATION
(as at 4 April 2024)
GROSS REVENUE
NET PROPERTY INCOME
REALISED PROFIT AFTER TAX
DISTRIBUTABLE INCOME
DISTRIBUTION PER UNIT
NET ASSET VALUE PER UNIT
(after income distribution)
(Date as at 31 March 2024)
ANNUALISED
DISTRIBUTION YIELD
(Based on RM0.90 closing price as at 23 April 2024)
Corporate Milestones
KIP REIT was constituted by a Trust Deed entered into between Pacific Trustees Berhad as the REIT Trustee and KIP REIT Managers Sdn Bd as the REIT Manager (subsequently restated on 12 December 2019 following amendments to the Securities Commission Malaysia Listed REITs Guidelines).
KIP REIT commenced trading on Main Market of Bursa Malaysia with an initial portfolio of six community centric malls, five KIPMalls developed and managed by the Sponsors and KIPMall Bangi (third party acquisition prior to listing).
Entered into agreement with the Vendor to purchase AEON Mall Kinta City for a consideration of RM208 million, independent appraised value of AEON Mall Kinta City stood at RM220 million.
Installation of Solar Photovoltaic System to reduce carbon footprint across all KIPMalls on an 80:20 joint venture initiative with Pekat Solar.
KIP REIT’s Medium Term Note Programme of up to RM2.0 billion on a perpetual tenure.
- Completion of AEON Mall Kinta City, appraised value of RM220 million.
- Issuance of first Medium Term Note of RM310 million, of which RM210 has been rated “AAA/Stable” by Ratings by RAM with the remainder of the sum being unrated.
KIP REIT has completed the acquisition of KIPMall Kota Warisan from Cahaya Serijaya Sdn Bhd for RM80mil.
The dynamic design of our new logo reflects KIP REIT’s forward-thinking approach, illustrating our readiness to embrace new challenges and opportunities. The green colour in turn relates to harmony, balance and growth – values that align seamlessly with KIP REIT’s vision moving towards a flourishing future and aspirations.
