KUALA LUMPUR, Tropicana Corporation Bhd has completed the redemption of another tranche of its Sukuk Wakalah Programme amounting to RM100 million, which matured today. In a statement, the group said it had earlier redeemed a tranche worth RM123.5 million on June 30, 2025, under the same programme.
“The redemption of the sukuk underscores Tropicana’s prudent financial management and steadfast commitment to honouring its obligations to investors. The group continues to deliver sustainable earnings, supported by unbilled sales of RM2.1 billion and strengthened by its ongoing and upcoming signature developments across Malaysia with an estimated gross development value (GDV) of RM6.5 billion,” it said.
Tropicana added that it remains on a growth trajectory through initiatives focused on enhancing sales performance, monetising landbank and investment properties, as well as optimising financial management.
The group’s balance sheet has also continued to strengthen, with its gross gearing ratio easing from 0.43 times as at Dec 31, 2024, to 0.42 times as at June 30, 2025.
“We have in place strategic divestment plans and will continue to implement effective sales campaigns to drive growth. We would also like to extend our sincere appreciation to our business partners for their continuous support towards Tropicana Group,” it said. As at June 30, 2025, Tropicana’s landbank stood at 1,336.1 acres (540.70 hectares), with a total potential GDV of RM168.4 billion.
