Press Releases (developers and more)
Tropicana Redeems RM465.5 Million Islamic Bond and continues to deliver sustainable earnings
Petaling Jaya (3 July 2023) – Property developer Tropicana Corporation Berhad (“Tropicana” or “The Group”) reported that it has redeemed the Sukuk Wakalah Programme tranche of RM465.5 million due on 30 June 2023. This Sukuk Wakalah Programme was part of the RM1.5 billion Islamic Medium Term Notes Programme issued by the Group. The management cited that the Group will continue to deliver sustainable earnings backed by its solid RM2.1 billion unbilled sales, ongoing property sales campaign as well as improved performance from the Group’s property development, property investment, recreation and resort operations.
