Tropicana reverses Q1 2024 loss with RM1.3mil net profit in Q1 2025
The company's revenue, however, fell 10.6 per cent to RM260.4 million from RM291.3 million previously.
Tropicana, in a statement today, said this was due to the completion of the divestment of several investment properties, resulting in a reduction of recurring income.
On a positive note, its finance costs were lower in line with its ongoing strategy to reduce overall debt levels through asset monetisation initiatives.
"We will continue to strive forward and strengthen our stakeholder engagements, focusing on value creation as well as establishing strategic marketing and sales campaigns across our online and offline platforms.
"We believe that the demand for properties in Tropicana's established, mature and developing townships will persist and that the property market should maintain its positive momentum in 2025," it added.
Tropicana said its unbilled sales stood at RM2.1 billion, placing the company in a comfortable position to deliver sustainable earnings.
The company said 10 of its development across Malaysia achieved full take-up over the past few months, including Tropicana Miyu, Edelweiss Serviced Residences, Freesia Residences, Gemala Residences, Hana Residences and SouthPlace Residences in the Klang Valley.
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 full take-up.
Tropicana Alam, the company's latest township at Puncak Alam, introduced its Avisa Residences show units, resulting in a positive 76 per cent take-up for the first phase.
Tropicana's current landbank stood at 540.73 hectares, with a total potential gross development value of RM168.4 billion
The company said the recent appointment of world-class architectural firm Skidmore, Owings & Merrill to lead the transformation of 65.97 hectares Lido Waterfront Boulevard (LIDO) will add more value, placing LIDO as its most prime piece of land in Johor.
"This strong land portfolio positions the group to unlock significant value, drive growth and deliver sustainable performance in the next few years," it added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 days ago
- The Sun
Water tariff revision boosts investment but private funding still needed
KUALA LUMPUR: Malaysia's water sector still requires alternative funding schemes involving the private sector to reduce the federal government's financial burden despite the ongoing review of water tariffs in selected states. CIMB Securities Sdn Bhd said the move is crucial to support the country's water demand, which is growing at an average rate of two per cent to six per cent per annum. It said there is also the urgent need to upgrade and rehabilitate aged water assets, including 98 out of the existing 350 water treatment plants (WTP) operating above their capacities and another 120 WTPs that are bogged down by operational issues. 'Thus, the latest revision in water tariffs provides more room for the water operators to upgrade water infrastructure, accelerate the replacement of ageing pipes, and reduce non-revenue water (NRW),' CIMB said. The research house also said that the latest water tariff adjustments mark another important step towards enhancing the quality of water services under Malaysia's Water Sector Transformation Plan 2040 (AIR 2040). 'Simultaneously, the tariff adjustments also helped negate a sharp rise in electricity costs and other water-related operating expenses for water treatment plant operators,' it said in a research note. It noted that the federal government has already provided a total of RM17.7 billion in funding assistance as part of the water industry restructuring between the 10 states and Putrajaya. The federal-backed Pengurusan Aset Air Bhd (PAAB), a Minister of Finance Inc's wholly owned company, remains the main funding conduit for Malaysia's water infrastructure projects, it said. However, CIMB stressed that PAAB has only replaced eight per cent of the 35,061 kilometres (km) of pipes under its ownership at a cost of RM2.1 billion since the initiative started in 2010. Furthermore, PAAB only controls about 26 per cent of water pipelines in the country, totalling 138,587 km, and 31 per cent of water infrastructure across Malaysia (excluding East Malaysia). 'To map out a holistic NRW programme, PAAB needs significant investments to meet the target of reducing the average NRW level in Peninsular Malaysia and Labuan to 28 per cent by 2030 (2023: 37.1 per cent),' it added. For exposure to water-related plays, CIMB Securities reiterated its view that licensed water operators under Suruhanjaya Perkhidmatan Air Negara would be the immediate beneficiaries of the water tariff revisions. 'Apart from Ranhill Utilities Bhd, PBA Holdings Bhd -- which owns Perbadanan Bekalan Air Pulau Pinang -- is the only other licensed water operator in the country that is listed on Bursa Malaysia. 'Pending further updates on the private sector's role in Malaysia's water sector transformation, we maintain Gamuda as our preferred play for water-related infrastructure construction,' it added. CIMB Securities said Gamuda is in a strong position to secure construction work worth RM4 billion from the Ulu Padas and Northern Perak water supply schemes -- works for the latter scheme will be carried out on a privatisation basis (minimum period: 40 years). For bulk water transfer, Engtex Group is one of only two domestic producers of large-diameter mild steel concrete-lined pipes, while for flood mitigation, Gamuda, IJM Corp and MRCB are strong in environmental-related projects. - Bernama
The Sun
6 days ago
- The Sun
AmFIRST REIT posts improved Q1 results
PETALING JAYA: AmREIT Managers Sdn Bhd, the manager of AmFIRST Real Estate Investment Trust, reported improved financial performance for the first quarter of the current financial year, underpinned by higher rental income from improved portfolio occupancy and higher carpark income. Also, a one-off compensation received for waiver of reinstatement liability has also contributed to the improved gross revenue. Key financial highlights for Q1'26 are gross revenue of RM27 million, up 7.6% quarter-on-quarter; net property income of RM16.2 million, an increase of 17.3% from the preceding quarter and realised earnings per unit of 0.75 sen per unit, up 47% quarter-on -quarter. In a statement yesterday, AmREIT said its portfolio occupancy continued to strengthen in the current quarter, with notable improvements at Menara AmBank and Wisma AmFIRST. It added that Prima 9 and Jaya 99 also saw gains, driven by multiple new tenancies secured during the period. These new leases have lifted overall committed portfolio occupancy by 4.1%, from 84.7% as at March 31, 2025, to 88.8% as at June 30, 2025 — supporting sustained rental income growth in the years ahead. Property expenses were slightly higher mainly due to higher repair and maintenance costs, as well as increase in assessment charges. However, this increase was partially mitigated by lower electricity expenses. Finance costs saw a marginal decline of 0.5% compared to the corresponding period of last financial year, supported by lower average cost of borrowings. The recent 25 basis points cut in the overnight policy rate by Bank Negara Malaysia is expected to further reduce interest expenses. With 67% of the trust's borrowings are subject to floating rates, it is estimating the interest saving of approximately RM1.3 million per annum from every 25 basis points reduction in the cost of debt. This favourable rate environment expects to enhance the trust's earning resilience. Overall, the realised net income from operations rose significantly by 45.4% to RM5.1 million, compared to RM3.5 million in the same quarter of the previous financial year. Looking ahead, the manager aims to further enhance the performance of the trust's asset portfolio by driving revenue growth and optimising operational costs, to increase the asset portfolio's yield for higher income distribution to the unitholders. Barring any unforeseen circumstances, the manager remains cautiously optimistic that the trust will deliver improved performance for the remainder of the financial year, supported by higher occupancy rates and ongoing operational efficiencies.
Focus Malaysia
30-07-2025
- Focus Malaysia
Time for Malaysians to get used to 'gov't loans come down can also mean national debt goes up'
SUCH seems to be the mind-boggling Economics 101 situation confronting main-on-the-street Malaysians after it was revealed yesterday (July 29) that the Federal government's debt rose to RM1.3 tril as of end-June 2025, up from RM1.25 tril as of end-2024. The increase was apparently driven by borrowings to finance fiscal obligations and fund development projects, according to Deputy Finance Minister Lim Hui Ying. 'Government loans are used prudently to finance strategic development projects such as infrastructure, education, health and social protection programmes,' she told the Dewan Rakyat yesterday (July 29) in response to a parliamentary question by DAP's Beruas MP Datuk Ngeh Koo Ham' on the government's effort to reduce federal debts and liabilities. However, the government's liabilities shrank to RM384.6 bil by March 2025 compared with RM384.8 bil as of end-2024. To ordinary Malaysians, this piece of news came as a shocker for just over the weekend (July 27), Prime Minister Datuk Seri Anwar Ibrahim had personally warned that unchecked national debt could burden future generation of Malaysians, stressing his government's duty to rein in borrowing before it spirals further. He went on to stress that his persistent warnings about national debt were driven by a responsibility to prevent the burden from being inherited by future generations. As Malaysia's debt level remains high, PMX who is also the Finance Minister further justified that managing it responsibly is crucial to restoring investor confidence and safeguarding the country's economic future. 'Bullets for opposition' Above all else, both the Information Department and PKR Youth were found blowing the trumpet on the Madani government's behalf by citing PMX boastfully announced that 'new debts have been successfully reduced to RM77 bil in 2024 from RM93 bil (2023) RM99 bil (2022)'. 𝙆𝙀𝙍𝘼𝙅𝘼𝘼𝙉 𝘽𝙀𝙍𝙅𝘼𝙔𝘼 𝙆𝙐𝙍𝘼𝙉𝙂𝙆𝘼𝙉 𝙃𝙐𝙏𝘼𝙉𝙂 𝘽𝘼𝙃𝘼𝙍𝙐 𝙉𝙀𝙂𝘼𝙍𝘼 📉 Hutang baharu negara: • 2022: RM99 bilion • 2023: RM93 bilion • 2024: RM77 bilion 1/2 — AMK Malaysia (@AMKMalaysia) July 21, 2025 📉 Hutang Baharu Negara Berkurang! 💪🇲🇾 🗣️ YAB Dato' Seri Anwar Ibrahim: 💵 Hutang baharu 2024 turun ke RM77 bilion. 📉 Berbanding RM99 bilion pada tahun 2022! 🎯 Tanda komitmen kerajaan untuk: ✅ Urus kewangan negara secara berhemat. 📊 Kawal defisit, stabilkan ekonomi. — Jabatan Penerangan Malaysia ❤️🇲🇾 (@JPenerangan) July 22, 2025 Inevitably, unless the Madani government's communications machinery can find a way to explain in layman's term differentials between PMX's narrative of government borrowings have come down vs soaring national debt level, financially-savvy detractors will surely prey on the latest revelation for political mileage. 'Today the PH (Pakatan Harapan) government admitted that the government's debt has reached RM1.3 tril,' penned former UMNO supreme council member Isham Jalil on his Facebook post. 'In the past six months alone, they have added RM50 bil in debt. They said it was for project spending. Once again, I ask, can you please list the projects above RM100 mil that you spent and who got these projects? Added the once special officer to incarcerated former premier Datuk Seri Najib Razak: 'And was it obtained through open tender, selected tender or direct negotiation? Where has the hundreds of billions that you borrowed over the past two-and-a-half years gone to? The rakyat will have to pay these debts later.' Interestingly, another former Najib 'lieutenant' Datuk Eric See-To also took a jibe at the Madani government that ''shall not add' means 'to add RM290 bil' over a period of 30 months'. 'Tidak akan tambah' bermaksud 'tambah RM290 bilion dalam tempoh 30 bulan'. Dec 2022 (sebelum Madani): – Hutang langsung: RM1.079.6b – Liabiliti Kerajaan: RM319.6b – Jumlah hutang & liabiliti Kerajaan = RM1.399 trilion Jun 2025 (lepas 30 bulan Madani): – Hutang langsung:… — Eric SeeTo Lim Sian See (@LimSianSeeEric) July 29, 2025 But the former Barisan Nasional (BN) strategic communication deputy director who also goes by the nom de plume Lim Sian See was checkmated by a seemingly neutral governance critic. 'Eric, twisting the numbers won't change the facts. If you want to play propaganda, let's have some basis,' argued ksampoh@MyOwn Inc (@ksampoh). 'Debt is rising? Yes. But not for pink diamonds, luxury ships or condos. This time it's going up because we want to take care of the people, continue the nation's operations and absorb the global impact. 'Eric, if you're really smart, don't just make noise on Twitter but offer a solution.' By the way, the learned commenter further 'counter-swiped' See-To on the need 'to add RM378 bil over the next nine years (to the national debt) to offset 1MDB, SRC, Aabar & other fraudulent investments'. – July 30, 2025
