Latest news with #TropicanaCorporationBhd
New Straits Times
6 days ago
- Business
- New Straits Times
Tropicana reverses Q1 2024 loss with RM1.3mil net profit in Q1 2025
KUALA LUMPUR: Tropicana Corporation Bhd posted a net profit of RM1.3 million for the first quarter to March 31 2025 to reverse its RM9.1 million net loss a year ago. 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.
The Star
19-05-2025
- Business
- The Star
Upscaling work-life balance in Gelang Patah
A view of Aster Heights, which has recorded a 100% take-up rate. (Left) Visitors getting information at Tropicana Uplands property gallery. TROPICANA Uplands is fast becoming a sought-after address in Gelang Patah, Johor. Designed with sustainability at its core, it stands as one of the landmark townships for Tropicana Corporation Bhd. According to a media release by Tropicana, the 127ha integrated development offers a balanced work-live-learn-shop-play environment. The township is also easily accessible via five highways: the North-South Highway, Pasir Gudang Highway, Iskandar Coastal Highway, Pontian Highway and Second Link Expressway. Summit Commercial Hub and Aster Heights, the project's commercial and residential phases respectively, have achieved 100% take-up, the developer said. Keen purchasers at Tropicana Uplands property gallery. Another residential development, Fraser Heights phase one, recorded 80% take-up as of the first quarter of 2025, Tropicana added. Located within Iskandar Malaysia, Tropicana Uplands is poised to be the new pulse of Johor as it is surrounded by mature residential and commercial properties. 'Since 1979, Tropicana has crafted more than 18 townships anchored by our eight unique development DNAs,' said Tropicana marketing, sales and business development managing director Ixora Ang. 'We are proud to create another thriving township such as Tropicana Uplands, transforming it into a vibrant and desirable address in Johor. 'Summit Commercial Hub is 90% completed and slated to be ready for handover by the second half of 2025. 'Aster Heights, our first completed residential phase, received a high 87% Quality Assessment System in Construction (Qlassic) score.' Ang added, 'Following this overwhelming demand, Fraser Heights phase one was launched with much success, recording 80% take-up within the first quarter of the year. 'We have now unveiled the second phase and will continue to engage with our loyal purchasers.' In line with Tropicana's mantra to 'Redefine the Art of Living', purchasers and investors will get to enjoy a host of attractive features, including practical, well-designed property layouts, superb connectivity, and exclusive access to the 7.7ha Central Park with various recreational amenities. 'Those who missed out on our earlier phases, may register online and be part of this vibrant township,' said Ang. 'Our upcoming Fraser Heights phase two will be home to 295 units, comprising two- and three-storey terrace homes priced from RM745,000,' she added. For details, visit or call 07-510 3838.
