PETALING JAYA: Tropicana Corporation Berhad reported that it has redeemed another tranche of the Sukuk Wakalah Programme worth RM100 million, which was due on Sept 3, 2025.
The Company has also successfully redeemed a tranche of RM123.5 million on June 30, 2025 under the Sukuk Wakalah Programme.
The redemption of sukuk reflects Tropicana’s prudent financial management and commitment to fulfilling its obligations to investors.
The Group continues to deliver sustainable earnings backed by its RM2.1 billion unbilled sales, as well as gain market traction with its ongoing and new signature developments worth an estimated Gross Development Value (GDV) of RM6.5 billion across Malaysia.
Tropicana’s balance sheet continues to strengthen, with gross gearing level reduced from 0.43 times as of Dec 31, 2024 to 0.42 times as of June 30, 2025.
Tropicana will continue its growth trajectory with its ongoing initiatives to enhance sales performance, monetise its landbank and investment properties as well as optimise financial management.
The management cited on the Group’s focus and continued commitment, “In line with our mission to transform Tropicana into a future-ready group with a strong purpose of sustainable growth, we have prioritised our core property segment, centred around our development DNA and ESG commitments.
“We have strategic divestment plans in place, and we will continue to roll out effective sales campaigns to drive growth. We also want to take this opportunity to extend our sincere appreciation to our business partners who have been supportive to Tropicana Group.”
Tropicana continues to gain traction in the market with these ongoing and new developments worth an estimated GDV of RM6.5 billion:
Varia Shop Offices @ Tropicana Aman, Kota Kemuning; Avisa Terrace Homes @ Tropicana Alam, Puncak Alam; Premium Green Terraces @ Tropicana Alam, Puncak Alam; Breeze Hill Shoppes & Serviced Apartments @ Tropicana Avalon, Genting Highlands; Bungalow Lots @ Tropicana Paradise @ Genting Highlands; TwinPines Serviced Suites @ Tropicana Grandhill, Genting Highlands; Clarissa Serviced Suites & Beachwalk Shoppes, Tropicana Cenang @ Langkawi; Skypark Kepler Branded Residences, Lido Waterfront Boulevard (Lido) @ Johor; Fraser Heights Terrace Homes, Tropicana Uplands @ Johor; Bora Serviced Apartments, Tropicana Danga Bay @ Johor.
Delivery of Vacant Possession in Q4 FY2025 and Q1 FY2026:
Hana Residences @ Tropicana Aman, Kota Kemuning; Edelweiss Serviced Residences, SOFO & Shoppes @ Tropicana Gardens, Petaling Jaya; Assana and Merissa Serviced Suites @ Tropicana Cenang, Langkawi; Summit Commercial Hub @ Tropicana Uplands, Johor.
Over the past few months, the Group has announced many positive news such as the 100% take-up on 10 of its developments across Malaysia, as well as beneficial collaborations with various international firms to boost confidence and sales.
Tropicana Miyu, Edelweiss Serviced Residences, Freesia Residences, Gemala Residences, Hana Residences and SouthPlace Residences in the Klang Valley recorded 100% take-up.
In the northern and southern regions, Assana and Merissa Serviced Suites in Langkawi, as well as Aster Heights and Summit Commercial Hub in Johor, posted 100% take-up.
Avisa Residences at Tropicana Alam, Puncak Alam recorded more than 75% take-up for its phase 1 launch. Catering to the demand, Tropicana Alam unveiled its latest Premium Green Terraces and show units.
Tropicana’s current landbank stood at 1,336.1 acres, with a total potential GDV of RM168.4 billion.
In addition, the recent appointment of world-class architectural firm Skidmore, Owings & Merrill to lead the transformation of 163-acre Lido will add more value, placing Lido as its most prime piece of land in Johor.
This strong land portfolio strategically positions the Group to unlock significant value, drive growth and deliver sustainable performance in the next few years.
