Kip Real Estate Investment Trust (Malaysia)

KIP Real Estate Investment Trust (KIP REIT) is a company located in Kuala Lumpur, Malaysia. It was listed on Bursa Malaysia in 2017 and primarily invests in income-producing real estate used for retail. Starting from 2022, it also includes industrial properties. KIP REIT may invest in other permissible investments, including real estate-related assets. The company's main objective is to provide regular and stable income distributions to its Unitholders through real estate-related assets that generate sustainable income and capital growth. As of December 31, 2022, KIP REIT has a total net lettable area of 1.85 million square feet and a total asset value of RM930.9 million. Its investments are long-term in nature, and as of February 27, 2023, its market capitalization stands at RM542.7 million. KIP REIT is managed by KIP REIT Management Sdn Bhd, which is responsible for managing the company's assets and liabilities for the benefit of the Unitholders. The manager sets the strategic direction of KIP REIT and provides recommendations to the Trustee on acquisitions, divestments, and asset enhancements in line with the company's investment strategy. KIP REIT's retail portfolio consists of 7 community-centric neighbourhood malls known as 'KIPMall'. These malls are well-established as one-stop shopping destinations for medium-income groups and the mass market, offering affordable prices for daily necessities. The malls house a variety of shops, including food and beverage outlets, local retail chain retailers, general merchandise stores, convenience stores, telecommunication shops, jewellery shops, a food court, a fresh market, and various services such as hair salons, cobblers, locksmiths, and tailors. Additionally, the KIPMall provides facilities such as banking and money-changing services, an indoor playground, push-cart kiosks, a promotion/exhibition area, and ample free parking space. In line with its diversification strategy, KIP REIT has expanded into the industrial sector by acquiring 3 industrial properties located in Pulau Indah Klang, Selangor. The company will continue to seek value-accretive industrial assets that offer a sustainable business model through stable rental yield and capital appreciation, while still focusing on its core strengths in managing its retail assets.