OPERATIONS REVIEW MALAYSIA 1 PROPERTY S$0.7 million TOTAL GROSS PROFIT (FY 2023) S$35.2 million VALUATION (as at 31 December 2023) S$3.7 million TOTAL REVENUE (FY 2023) 205 UNITS Somerset Kuala Lumpur CLAS owns a freehold serviced residence in Kuala Lumpur, Malaysia. Operating under a management contract, the serviced residence has an average length of stay of over a month. The 205-unit Somerset Kuala Lumpur is situated along Jalan Ampang, close to several embassies, offices and shopping malls. Its prime location provides easy access GROSS RENTAL INCOME (MYR’000) FY 2023 FY 2022 Somerset Kuala Lumpur 12,358 11,437 REVENUE PER AVAILABLE UNIT (MYR) FY 2023 FY 2022 Somerset Kuala Lumpur 165 153 to Kuala Lumpur’s Golden Triangle, the city’s renowned commercial, shopping and entertainment district. In FY 2023, RevPAU of the property rose 8% YoY in MYR terms, mainly due to higher ADR. In 4Q 2023, RevPAU of Somerset Kuala Lumpur was 98% of pre-COVID-19 levels. 46 CAPITALAND ASCOTT TRUST
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