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KLCC Property Holdings Bhd (5235SS) Fair Value & Analysis

Real Estate · MY · Market cap 15.7B MYR (≈ $3.9B) · ISIN MYL5235SS008

What is KLCC Property Holdings Bhd really worth?

KP KLCC Property Holdings Bhd 5235SS · KLSE
Price8.48 MYR
Fair Value6.66 MYR
Upside−21.5%
Quality65/100

A solid business, but trading 27% above our fair value of 6.66 MYR.

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Strengths

Healthy Growth (revenue 5y +7.0 %/yr)
Highly profitable · 73.0% net margin
Low debt · generates free cash flow
Wide moat 68/100

Risks

!Mixed vs. peers (7/15)
!Weak on valuation: 5 out of 100
!Weak on future: 7 out of 100

For context

·5.55% dividend yield
Evidence: High Range 5.18 MYR – 8.64 MYR

Fair value as of: Aug 30, 2026

From 16 valuation models · updated 6 days ago

Share price −3.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

9.52 MYR 5.29 MYR Fair Value 6.66 MYR Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range 5.29 MYR – 9.52 MYR · fair‑value band 5.18 MYR – 8.64 MYR · the 8.48 MYR price screens above the 6.66 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.

Full chart & analysis →

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Analysis

KLCC Property Holdings Bhd (5235SS) currently trades at 8.48 MYR, while our model-based Fair Value estimate is 6.66 MYR, implying the stock looks roughly 27.3% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of 6.93 MYR per share, and 3 of the 16 models we run sit above the 8.48 MYR price. Bear case: the Dividend Discount group reads lowest at 2.11 MYR, and 13 of the 16 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, KLCC Property Holdings Bhd generated revenue of 1.8B MYR at a net margin of 73.0%. Revenue grew 1.3% year over year. It earns a return on equity of 9.3%. Net debt stands at 2.8B MYR. Fundamentals as of Aug 30, 2026

Our scenario range runs from 5.18 MYR (bear case) to 8.64 MYR (bull case); at 8.48 MYR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −49% fair-value upside, at −21%, 5235SS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence 4.43 MYR 6.93 MYR 10.47 MYR 80
Growth DCF 4.60 MYR 6.93 MYR 10.09 MYR 78
Residual Income 6.05 MYR 6.15 MYR 5.97 MYR 76
All 16 models by family
DCF Models
FCF DCF best evidence 4.43 MYR 6.93 MYR 10.47 MYR 80
5Y Revenue Exit 3.62 MYR 5.98 MYR 8.85 MYR 72
5Y EBITDA Exit 5.14 MYR 8.67 MYR 12.60 MYR 74
10Y Revenue Exit 3.74 MYR 5.89 MYR 8.52 MYR 66
10Y EBITDA Exit 4.82 MYR 7.71 MYR 11.24 MYR 68
Dividend Discount
Gordon GGM 1.43 MYR 2.40 MYR 3.55 MYR 67
DDM Multi-Stage 1.43 MYR 2.11 MYR 2.86 MYR 66
Multiples
P/S Multiple 4.70 MYR 6.26 MYR 7.83 MYR 58
P/B Multiple 5.18 MYR 6.91 MYR 8.64 MYR 55
EV/EBIT 8.58 MYR 11.86 MYR 15.14 MYR 66
EV/EBITDA 6.53 MYR 9.12 MYR 11.72 MYR 67
EV/Revenue 3.46 MYR 5.48 MYR 7.51 MYR 53
Asset-Based
NCAV (Graham) 3.92 MYR 5.25 MYR 7.83 MYR 54
Growth DCF
Growth DCF 4.60 MYR 6.93 MYR 10.09 MYR 78
Rev-Margin DCF 3.62 MYR 6.02 MYR 8.41 MYR 72
Economic Profit
Residual Income 6.05 MYR 6.15 MYR 5.97 MYR 76

Widest divergence: DCF Models (6.93 MYR) versus Dividend Discount (2.11 MYR). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 20.7
P/S ratio 8.72 P/E × margin
EPS (TTM) 0.4100 MYR price ÷ EPS = P/E 20.7
Dividend yield 5.6% payout 115%
Net margin 42.2% FY2025
Return on equity 9.3% TTM
More key figures
Profitability
Return on assets (EBIT) 5.3% avg 5y
Operating margin 64.6% TTM
Growth
Revenue (TTM) 1.8B MYR TTM
Revenue growth (YoY) +1.3% 3y avg +6.0%
EPS growth (YoY) +1.3%
Balance sheet & cash flow
Free cash flow 968M MYR FY2025
Net debt 2.8B MYR FY2025 · ≈ 2.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 55

Profitability 35
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets.

Full company description

KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets. KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the index as a single price quotation. KLCCP Stapled Group's core business is in property investment and development, and provision of management services. The Group owns iconic prime assets, namely the PETRONAS Twin Towers, Menara ExxonMobil, and Menara 3 PETRONAS under KLCC REIT and Suria KLCC, the premier shopping mall, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) under KLCCP. KLCCP also has a 33% stake in Menara Maxis. KLCCP Stapled Group redefines excellence in real estate. With decades of experience building the nation's iconic landmarks, it has elevated industry standards and expectations, reinforcing its commitment to enriching lives and building a more sustainable future. KLCC Property Holdings Berhad was incorporated in February 7th, 2004 in Malaysia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KLCC Property Holdings Bhd reported revenue of 1.7B MYR in FY2025 versus 1.2B MYR in FY2021, a compound +10.4%/yr. Reported net income was 734M MYR in FY2025, compounding +10.3%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.7B MYR
Latest YoY
+1.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.0%
Avg. revenue growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.2%
Value creation/yr (5Y, in MYR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+12.1% (6.5 + 5.6)
Revenue +10.4%/yr
FY21 1.2B MYR
FY22 1.5B MYR
FY23 1.6B MYR
FY24 1.7B MYR
FY25 1.7B MYR
Net income +10.3%/yr
FY21 496M MYR
FY22 783M MYR
FY23 397M MYR
FY24 498M MYR
FY25 734M MYR
Character of growth · EPS growth decomposed (2014-2025) −6.4 % p.a.
Revenue per share +2.6 %

of which total revenue +2.6 % · buybacks/dilution +0.0 %

EBIT margin −2.0 %
Tax rate −1.3 %
Residual (interest, one-offs) −5.6 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

5235SS screens 27% overvalued. Compare with Goodman Group →

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Cite: Fair Value Calculator (2026). "KLCC Property Holdings Bhd Fair Value". https://www.fairvalue-calculator.com/stock/5235SS

Peer Group

REIT - Diversified · 152 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Top 25%
Fair Value upside −22% · Below median
Return on equity (TTM) 9% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 73% · Top 25%
Operating margin (TTM) 65% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 5.6% · Below median
Debt / equity 0.27× · Lower than median

Valuation Multiples vs REIT - Diversified median · lower = cheaper

P/E (TTM) 20.7× · Pricier than 75% of peers
P/B 1.11× · Pricier than median
P/S (TTM) 8.93× · Pricier than 75% of peers
P/FCF 4.0× · Cheaper than median
EV/EBITDA 16.1× · Pricier than median
PEG 4.11× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE5 · sector 26
FUTURE7 · sector 16
PAST37 · sector 19
HEALTH87 · sector 76
DIVIDEND100 · sector 100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Diversified stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Goodman Group GMG A$27.55 A$7.37 −73%
VICI Properties Inc VICI $25.87 $40.82 +58%
W. P. Carey Inc WPC $70.51 $34.80 −51%
Charter Hall Group CHC A$21.90 A$10.99 −50%
Stockland SGP A$4.59 A$3.70 −19%
The GPT Group GPT A$4.61 A$3.49 −24%
Mirvac Group MGR A$1.85 A$0.5700 −69%
Broadstone Net Lease, Inc BNL $21.55 $10.91 −49%
T82U T82U 1.56 SGD 1.02 SGD −35%
CRRUN CRRUN C$16.67 C$7.03 −58%

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Frequently asked questions

Is KLCC Property Holdings Bhd (5235SS) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of 6.66 MYR versus a price of 8.48 MYR, about −21% upside (overvalued).
What is the fair value of 5235SS?
Our model-based fair value for KLCC Property Holdings Bhd is 6.66 MYR (as of Aug 30, 2026), built from audited fundamentals. The current price: 8.48 MYR.
What is the quality score of 5235SS?
KLCC Property Holdings Bhd has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of KLCC Property Holdings Bhd (5235SS)?
KLCC Property Holdings Bhd reported trailing-twelve-month revenue of about 1.8B MYR (latest available figure, as of Aug 30, 2026).
What is the net profit margin of 5235SS?
The net profit margin of KLCC Property Holdings Bhd is about 73.0%, meaning it keeps roughly 73.0% of revenue as net income. Based on the latest reported figures.
Does KLCC Property Holdings Bhd pay a dividend?
KLCC Property Holdings Bhd currently shows a dividend yield of about 5.55% relative to its recent price (as of Aug 30, 2026).
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