KIP Real Estate Investment Trust · MYX:KIPREIT
KIP Real Estate Investment Trust — Q4 FY2022 Earnings Presentation
33 slides from KIP Real Estate Investment Trust's earnings presentation, 2022
Slide 1: Financial Results for Q4FY2022 & Full Year FY2022
FINANCIAL RESULTS FOR Q4FY2022 & FULL YEAR FY2022 K I P R e a l E s t a t e I n v e s t m e n t Tr u s t KIP:MK (5280)
Slide 2: Contents
CONTENTS Section 1 Key Highlights Section 2 Financial Performance Section 3 Portfolio Updates Section 4 Proposed Acquisitions Section 5 Outlook and Moving Forward Section 6 Appendix – Asset Portfolio 2
Slide 3: Key Highlights
Key Highlights KIPMALL - SENAWANG
Slide 4: Key Highlights Q4FY2022 & FY2022
KEY HIGHLIGHTS Q4FY2022 & FY2022 Gross Revenue Net Property Realised Profit Distributable Distribution Per Average Occupancy Annualised Income After Tax Income Unit Rate Distribution Yield Q4FY2022 RM19.2 M RM14.2 M RM9.5 M RM9.7 M 2.10 Sen 86.8% 7.51% 0.9% 5.8% 6.1% 4.2% No Change 6.6% Point Y-o-Y
Slide 5: Financial Performance
Financial Performance KIPMall - MELAKA
Slide 6: Financial Performance: Gross Revenue
FINANCIAL PERFORMANCE Gross Revenue Gross Revenue (RM'000) (549) Q4FY2021 vs Q4FY2022 (183) 0.7% 0.9% ▪ The lower gross revenue was due to 391 lower revenue for Bangi since the 74,249 73,700 anchor tenant lot was vacated since 2.1% end February 2022. ▪ However, this was cushioned by 19,404 19,221 lo
Slide 7: Financial Performance: Net Property Income
FINANCIAL PERFORMANCE Net Property Income Net Property Income (“NPI”) (RM'000) Q4FY2021 vs Q4FY2022 (876) 92 ▪ The lower NPI was due to the lower 5.8% 0.2% (301) gross revenue and higher utilities 2.1% expenses as a result of full force of 56,662 56,754 mall operations, coupled with the removal of 1
Slide 8: Financial Performance: Profit after Tax
FINANCIAL PERFORMANCE Profit after Tax Profit after Tax (RM'000) Realised Profit after Tax (RM'000) 40,288 39,696 114.4% (617) (25) 428.4% 75,509 6.1% (0.1%) 39,836 48,962 370 436.5% 4.1% 36,043 36,068 35,221 10,113 9,496 9,050 9,126 9,266 9,050 9,126 8,371 8,371 Q4FY2021 Q1FY2022 Q2FY2022 Q3FY2022
Slide 9: Distributions
DISTRIBUTIONS Distributable Income (RM'000) Distribution Per Unit (Sen) 10,159 9,562 9,582 9,728 2.10 2.10 8,456 1.55 1.55 1.60 52% 52% 51% 51% 49% Q4FY2021 Q1FY2022 Q2FY2022 Q3FY2022 Q4FY2022 Q4FY2021 Q1FY2022 Q2FY2022 Q3FY2022 Q4FY2022 Distributable Income Distributable Income Margin Total distrib
Slide 10: Attractive Yield vs Other Investments
ATTRACTIVE YIELD VS OTHER INVESTMENTS Continues to deliver attractive annual yield of 7.51% PEER YIELD COMPARISON 2 7.68% 7.51% 5.07% 5.04% 5.01% 5.08% 6.10%1 4.15% 3.23% 3.97% 2.95% 2.60% EPF Fixed Deposit 5- MGS 10-Yr Sentral KIP REIT IGB Axis Pavillion Hektar CMMT Sunway Peer Average Yr Note: 1.
Slide 11: Healthy Balance Sheet
HEALTHY BALANCE SHEET AS AT 30 JUNE 2022 Unaudited Audited RM'000 As at 30 June 2022 As at 30 June 2021 Investment Properties 852,000 808,000 Cash and cash equivalents 30,994 29,320 Other assets 6,041 8,901 Total Assets 889,035 846,221 Borrowings 312,913 312,708 Other liabiliities 21,596 20,135 Tota
Slide 12: KIP REIT Debt Profile
KIP REIT DEBT PROFILE AS AT 30 JUNE 2022 Fixed and Floating Rate Debt Maturity Profile 210 32% Fixed rate Floating rate 68% 100 0 0 0 2020 2021 2022 2023 2024 ▪ Total borrowings drawn down RM312.9 million Rated MTN 0 0 0 0 210 ▪ 68% of borrowings are on fixed rate; 32% are on floating rate. Unrated
Slide 13: Portfolio Updates
Portfolio Updates AEON MALL KINTA CITY
Slide 14: Portfolio Summary
PORTFOLIO SUMMARY One stop destination suburban malls that serve its Perlis communities KIPMall Senawang Kedah Valuation: RM27.0m LA: 116,919 sq ft Portfolio Pulau Pinang Occupancy: 86.7% Valuation: RM852.0m Kelantan LA 1 : 1.48 million sq ft Terengganu No. of tenancies 1: 780 Perak AEON MALL Kinta
Slide 15: Portfolio Average Occupancy Rate
PORTFOLIO AVERAGE OCCUPANCY RATE FY2018 FY2019 FY2020 FY2021 Q1FY2022 Q2FY2022 Q3FY2022 Q4FY2022 KIPMall Tampoi 96.2% 97.7% 97.4% 88.5% 77.3% 78.0% 79.3% 87.4% KIPMall Kota Tinggi 92.8% 91.3% 92.8% 88.0% 90.1% 91.4% 92.2% 91.9% KIPMall Masai 94.7% 93.7% 95.4% 88.9% 87.9% 91.3% 92.9% 93.4% KIPMall Se
Slide 16: Portfolio Lease Expiry Profile
PORTFOLIO LEASE EXPIRY PROFILE Lease expiry as at 30 June 2022 FY2023 FY2024 FY2025 FY2026 Number of leases expiring 590 176 13 1 Leased area expiring (sq. ft.) 442,746 278,320 40,890 530,181 Expires as % of occupied NLA 34.3% 21.5% 3.2% 41.0% Expires as % of gross rental income 50.1% 20.5% 2.8% 26.
Slide 17: Proposed Acquisitions
Proposed Acquisitions KIPMall – KOTA TINGGI
Slide 18: Proposed Acquisitions
PROPOSED ACQUISITIONS Proposed acquisition of 3 industrial properties ▪ Purchase price consideration : RM78.7 million. ▪ Estimated completion date : Second quarter of the calendar year 2023 ▪ Proposed leases tenure : 15 years Klang Property 1 Klang Property 2 Klang Property 3 Vendor Hextar Chemicals
Slide 19: Proposed Acquisitions: Rationale
PROPOSED ACQUISITIONS Rationale of the proposed acquisitions 1. Strategic location of the Klang Properties ▪ Easily accessible to major highways ▪ Strong demand for industrial properties in this location and limited supply ▪ Support industries within the Pulau Indah Industrial Park 2. Enhances portf
Slide 20: Outlook and Moving Forward
Outlook and Moving Forward KIPMall - BANGI
Slide 21: Outlook
OUTLOOK 1. Malaysia Retail Industry ▪ Retail Group Malaysia (RGM) has forecasted the retail industry to grow year-on-year at 25.7% for Q2FY2022, 3.4% for Q3FY2022 and 3.6% for Q4FY2022, bringing its FY2022 estimate growth at 13.1%. ▪ Malaysia Retailers Association (MRA) expects the retail industry i
Slide 22: Moving Forward
MOVING FORWARD 1. Diversification of Portfolio ▪ Currently implementing a private placement exercise to raise approximately RM80.8 million of which RM79.8 million is allocated for future yield-accretive assets acquisitions to create long-term value to unitholders. ▪ Issue price for the first tranche
Slide 23: Appendix – Asset Portfolio
Appendix – Asset Portfolio KIPMall - MASAI
Slide 24: Asset Portfolio: KIPMall Tampoi
ASSET PORTFOLIO Lot PTD 152711, Jalan Titiwangsa 1, Taman Tampoi Address / Location Indah, 81200 Johor Bahru Property type Retail centre KIPMall - TAMPOI Description Single-storey retail centre with a mezzanine floor Tenure 99 years Age of property 18 years Land area 452,191 sq ft (approx. 10.38 acr
Slide 25: Asset Portfolio: KIPMall Kota Tinggi
ASSET PORTFOLIO Address / Location No 1, Jalan Maju, 81900 Kota Tinggi, Johor Darul Takim Property Type Retail centre Description Single-storey retail centre with a mezzanine floor KIPMall – KOTA TINGGI Tenure Freehold Age of Property 14 years Land area 168,111 sq ft (approx. 3.86 acres) Lettable Ar
Slide 26: Asset Portfolio: KIPMall Masai
ASSET PORTFOLIO KIPMall Masai, Jalan Persiaran Dahlia 2, Taman Bukit Address / Location Dahlia, 81700 Pasir Gudang, Johor Property Type Retail centre KIPMall - MASAI Description Single-storey retail centre with a mezzanine floor Tenure 99 years Age of Property 11 years Land Area 472,757 sq ft (appro
Slide 27: Asset Portfolio: KIPMall Senawang
ASSET PORTFOLIO No. 1, Jalan KLS 1, Lavender Heights, 70450 Seremban, Address / Location Negeri Sembilan Darul Khusus Property Type Retail centre KIPMall – SENAWANG Description Single-storey retail centre with a mezzanine floor Tenure Freehold Age of Property 9 years Land area 438,414 sq ft (approx.
Slide 28: Asset Portfolio: KIPMall Melaka
ASSET PORTFOLIO No. 8999, Jalan Tun Fatimah, Batu Berendam, 75350 Address / Location Melaka Property Type Retail centre Description Two-storey retail centre KIPMall - MELAKA Tenure 99 years Age of Property 8 years Land area 380,310 sq ft (approx. 8.73 acres) Lettable Area 187,841 sq ft Average gross
Slide 29: Asset Portfolio: KIPMall Bangi
ASSET PORTFOLIO Address / Location No. 1, Jalan Medan Bangi, 43650 Bangi, Selangor Property Type Shopping Centre Description Five-storey shopping centre with a mezzanine floor KIPMall - BANGI Tenure 99 years Age of Property 22 years Land Area 92,817 sq ft (approx. 2.13 acres) Lettable Area 255,202 s
Slide 30: Asset Portfolio: AEON Mall Kinta City
ASSET PORTFOLIO Address / Location 2, Jalan Teh Lean Swee, Taman Ipoh Selatan, 31400 Ipoh, Perak Property Type Shopping Centre AEON MALL KINTA CITY Description Four-storey shopping centre Tenure Freehold Age of Property 24 years Land Area 648,310 sq ft (approx. 15 acres) Lettable Area 530,181 sq ft
Slide 31: Cautionary Statement
CAUTIONARY STATEMENT This presentation is intended to focus on matters which are relevant to the interests of stock analysts and shareholders (existing and potential) in KIP REIT. The purpose of this presentation is to provide relevant information to assist in the process of assessing the strategies
Slide 32: Q&A
Q&A
Slide 33: KIP REIT
KIP REIT Unit B-6, Block B, Tingkat 6, Menara KIP, No.1, Jalan Seri Utara 1, Sri Utara Off Jalan Ipoh, 68100 Kuala Lumpur. Tel : 603 6259 1133 Tel : +603 6258 8919 [email protected]
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