TROPICANA ANNOUNCES ITS H1 FY2025 RESULTS, RECORDING RM590.5 MILLION REVENUE 

TROPICANA ANNOUNCES ITS H1 FY2025 RESULTS, RECORDING RM590.5 MILLION REVENUE

● For the financial period ending 30 June 2025, the Group recorded a revenue of RM590.5 million. 

● Tropicana’s financial position continues to improve, with gross gearing level reduced from  0.43 times as of 31 December 2024 to 0.42 times as of 30 June 2025.  

● The Group’s unbilled sales stood at RM2.1 billion, placing the Company in a comfortable  position to deliver sustainable earnings. 

In a filing to Bursa Malaysia, Tropicana Corporation Berhad  (“Tropicana” or “Group”) announced its unaudited financial results for the second quarter ended 30 June 2025 (“Q2 2025”). Tropicana reported a revenue of RM590.5 million,  representing a decrease of RM85.4 million or 12.6% compared to RM676 million in the  preceding year. The Group also recorded a lower profit before tax (“PBT”) of RM16 million as  compared to a PBT of RM98.3 million in the preceding year. 

The decline in both revenue and profitability was primarily attributable to the completion of  the divestment of several investment properties, resulting in a reduction of recurring income.  On a positive note, the Group’s finance costs declined in line with its ongoing strategy to  reduce overall debt levels through asset monetisation initiatives. 

The management cited, “The Malaysian property market is expected to remain healthy and is  expected to see moderate growth in 2025, with price increases projected between 2% and 5% according to PEPS¹. In July 2025, Bank Negara Malaysia announced a cut in Overnight Policy  Rate (“OPR”) by 25 basis points to 2.75%, making this the first rate cut since May 2023. The  reduction in OPR is a pre-emptive measure aimed at preserving Malaysia’s steady growth path  amid moderate inflation prospects. This will create a favourable environment for both  homebuyers and investors, lowering borrowing costs and making homeownership more  accessible.”  

“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. Tropicana’s unbilled sales stood at RM2.1 billion, placing the  Company in a comfortable position to deliver sustainable earnings,” the management added. 

1 Footnote: PEPS – Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia

Tropicana continues to gain traction in the market with these ongoing and new  developments worth an estimated Gross Development Value (“GDV”) of RM6.5 billion:

1. Varia Shop Offices @ Tropicana Aman, Kota Kemuning 

2. Avisa Terrace Homes @ Tropicana Alam, Puncak Alam  

3. Premium Green Terraces @ Tropicana Alam, Puncak Alam  

4. Breeze Hill Shoppes & Serviced Apartments @ Tropicana Avalon, Genting Highlands

5. Bungalow Lots @ Tropicana Paradise @ Genting Highlands 

6. TwinPines Serviced Suites @ Tropicana Grandhill, Genting Highlands

7. Clarissa Serviced Suites & Beachwalk Shoppes, Tropicana Cenang @ Langkawi

8. Skypark Kepler Branded Residences, Lido Waterfront Boulevard (“LIDO”) @ Johor

9. Fraser Heights Terrace Homes, Tropicana Uplands @ Johor 

10. Bora Serviced Apartments, Tropicana Danga Bay @ Johor 

Delivery of Vacant Possession in Q4 FY2025 and Q1 FY2026: 

1. Hana Residences @ Tropicana Aman, Kota Kemuning 

2. Edelweiss Serviced Residences, SOFO & Shoppes @ Tropicana Gardens, Petaling Jaya

3. Assana and Merissa Serviced Suites @ Tropicana Cenang, Langkawi

4. Summit Commercial Hub @ Tropicana Uplands, Johor 

Over the past few months, the Group has announced many positive news such as the successful redemption of its second tranche of Sukuk Wakalah Programme worth RM123.5  million, 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 (“SOM”) 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.

Tropicana announces the appointment of globally acclaimed architecture, engineering and  urban planning firm Skidmore, Owings & Merrill, to lead the transformation of the 163-acre  Lido Waterfront Boulevard masterplan in Johor, positioning it as a dynamic, world-class  metropolis in the heart of Malaysia’s Southern region 

An artist’s impression of Skypark Kepler, the first branded residences by Banyan Group in Johor

Tropicana continues its progress in Genting Highlands with the unveiling of Breeze Hill at  Tropicana Avalon. Located on 6.7 acres of freehold land in the heart of Gohtong Jaya, Breeze  Hill is best suited for investors, business owners, holiday-makers and lifestyle seekers 

Tropicana Cenang celebrated another milestone for its award-winning phases 1 & 2 – Assana  Serviced Suites and Merissa Serviced Suites, with a Topping Off ceremony 

Assana and Merrisa recorded 100% take-up, and to cater to market demand, the third and final phase – Clarissa Serviced Suites, was launched with the unveiling of its brand-new show unit

Tropicana Alam unveiled its 4 brand-new Avisa Residences show units at Puncak Alam, showcasing Premium Green Terraces to the 3,000 participants during its recent Muhibbah  Run 

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