KIP Real Estate Investment Trust · MYX:KIPREIT
KIP Real Estate Investment Trust — Q2 FY2022 Earnings Presentation
32 slides from KIP Real Estate Investment Trust's earnings presentation, January 2022
Slide 1: Financial Results for Q2FY2022
FINANCIAL RESULTS FOR Q2FY2022 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 for Q2FY2022 Section 2 Financial Performance Section 3 Portfolio Updates Section 4 Covid-19 Update Section 5 Outlook and Moving Forward Section 6 Appendix – Asset Portfolio 2
Slide 3: Key Highlights for Q2FY2022
Key Highlights for Q2FY2022 KIPMALL - SENAWANG
Slide 4: Key Highlights for Q2FY2022
KEY HIGHLIGHTS FOR Q2FY2022 Gross Revenue Net Property Realised Distributable Distribution Annualised Annualised Average Investment Income Profit After Tax income Per Unit Distribution Distribution Occupancy Policy of KIP Per Unit Yield Rate REIT Supplemental RM18.5 m RM14.4 m RM9.1 m RM9.6 m 1.55 s
Slide 5: Financial Performance
Financial Performance KIPMall - MELAKA
Slide 6: Q2FY2022 Financial Performance: Gross Revenue
Q2FY2022 FINANCIAL PERFORMANCE Gross Revenue (RM'000) 107 0.6% Q2FY2022 vs Q2FY2021 ▪ The decrease in revenue was mainly due to 18,619 19,404 18,512 lower promotional area income despite the 17,992 17,137 relaxation of the SOPs and decline in the average occupancy rate, particularly KIPMall Bangi. ▪
Slide 7: Q2FY2022 Financial Performance: Net Property Income
Q2FY2022 FINANCIAL PERFORMANCE Net Property Income (“NPI”) (RM'000) 484 3.5% Q2FY2022 vs Q2FY2021 15,076 ▪ NPI was higher due to better cost 13,896 14,380 management measures, leading to lower 13,689 13,673 utilities expenses, maintenance and 80% housekeeping expenses, marketing expenses, 78% 78% re
Slide 8: Q2FY2022 Financial Performance: Realised PAT
Q2FY2022 FINANCIAL PERFORMANCE Realised Profit after Tax (“PAT”) (RM'000) 390 4.5% Q2FY2022 vs Q2FY2021 10,113 8,660 9,050 ▪ Realised PAT improved mainly due to higher 8,443 8,371 net property income recorded. Q2FY2021 Q3FY2021 Q4FY2021 Q1FY2022 Q2FY2022 Copyrights © 2022 KIP REIT | All rights reser
Slide 9: Q2FY2022 Distributions
Q2FY2022 DISTRIBUTIONS Distributable Income (RM'000) Distribution Per Unit (Sen) 10,159 9,562 2.10 9,361 8,956 8,456 1.59 1.60 1.55 1.55 50% 52% 52% 50% 49% Q2FY2021 Q3FY2021 Q4FY2021 Q1FY2022 Q2FY2022 Q2FY2021 Q3FY2021 Q4FY2021 Q1FY2022 Q2FY2022 Distributable Income Distributable Income Margin Dist
Slide 10: Attractive Yield vs Other Investments
ATTRACTIVE YIELD VS OTHER INVESTMENTS Continues to deliver attractive annual yield of 8.0% PEER YIELD COMPARISON 2 8.00% 3 7.78% 5.20% 1 5.08% 5.01% 4.68% 3.61% 1 3.78% 3.48% 2.10% 1 2.36% 1.98% EPF Fixed Deposit 5- MGS 10-Yr KIP REIT Sentral CMMT Axis IGB Pavillion Sunway Hektar Peer Average Yr Not
Slide 11: Healthy Balance Sheet as at 31 December 2021
HEALTHY BALANCE SHEET AS AT 31 DECEMBER 2021 Unaudited Audited RM'000 As at 31 December2021 As at 30 June 2021 Investment Properties 808,348 808,000 Cash and bank balances 28,111 29,320 Other assets 8,737 8,901 Total Assets 845,196 846,221 Borrowings 312,888 312,708 Other liabiliities 19,953 20,135
Slide 12: KIP REIT Debt as at 31 December 2021
KIP REIT DEBT AS AT 31 December 2021 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 MTN
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: RM25.0m Pulau LA: 116,919 sq ft Portfolio Pinang Occupancy: 83.8% Valuation: RM808.3m Kelantan LA 1 : 1.48 million sq ft Terengganu No. of tenancies 1: 747 Perak AEON MALL Kinta
Slide 15: Portfolio Average Occupancy Rate
PORTFOLIO AVERAGE OCCUPANCY RATE FY2018 FY2019 FY2020 FY2021 Q1FY2022 Q2FY2022 KIPMall Tampoi 96.2% 97.7% 97.4% 88.5% 77.3% 78.0% KIPMall Kota Tinggi 92.8% 91.3% 92.8% 88.0% 90.1% 91.4% KIPMall Masai 94.7% 93.7% 95.4% 88.9% 87.9% 91.3% KIPMall Senawang 80.6% 79.5% 80.9% 78.2% 79.8% 83.8% KIPMall Mel
Slide 16: Portfolio Lease Expiry Profile
PORTFOLIO LEASE EXPIRY PROFILE Lease expiry as at 31 December 2021 FY2022 FY2023 FY2024 FY2025 FY2026 Number of leases expiring 265 339 134 8 1 Leased area expiring (sq. ft.) 140,123 366,375 262,046 13,832 530,181 Expires as % of occupied NLA 10.7% 27.9% 20.0% 1.0% 40.4% Expires as % of gross rental
Slide 17: Covid-19 Update
Covid-19 Update KIPMall – KOTA TINGGI
Slide 18: Covid-19 Update
COVID-19 UPDATE ▪ To maintain shoppers’ confidence, we will continue to comply with the latest SOPs mandated by the Ministry of Health across all KIPMalls while ensuring that proper sanitisation and housekeeping of the common areas are conducted on a regular basis. Operations ▪ Overdue balances are
Slide 19: Outlook and Moving Forward
Outlook and Moving Forward KIPMall - BANGI
Slide 20: Outlook
OUTLOOK ▪ The World Bank has revised its initial growth projections to 5.8% for 2022, driven by an acceleration in private consumption. ▪ To date, over 40% of adults have received booster dose. However, Omicron being the latest variant of concern could potentially constrain economic recovery and gro
Slide 21: Moving Forward
MOVING FORWARD ▪ We remain vigilant and prudent on managing our cash flow and exercising financial discipline to continue delivering value to our unitholders. ▪ Essential services under KIP REIT assets has shown relatively stronger resilience and we will continue to cater for its surrounding communi
Slide 22: Appendix – Asset Portfolio
Appendix – Asset Portfolio KIPMall - MASAI
Slide 23: 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 24: 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 25: 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 26: 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 27: 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 188,063 sq ft Average gross
Slide 28: 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 254,772 s
Slide 29: Asset Portfolio: AEON Mall Kinta City
ASSET PORTFOLIO 2, Jalan Teh Lean Swee, Taman Ipoh Selatan, 31400 Ipoh, Address / Location 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 30: 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 31: Q&A
Q&A
Slide 32: Thank You
THANK YOU KIP REAL ESTATE INVESTMENT TRUST 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 Fax : +603 6258 8919 Email : [email protected] Copyrights © 2021 KIP REIT | All rights reserved 32
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