TROPICANA REPORTS RM1.5 BILLION REVENUE, UP BY 6% ON BETTER BILLINGS

TROPICANA REPORTS RM1.5 BILLION REVENUE, UP BY 6% ON BETTER BILLINGS

● For the financial period ended 31 December 2025, Tropicana recorded revenue of RM1.5 billion, representing an increase of 6% compared to year 2024.  

● Tropicana continues to optimise its financial management while pursuing strategic growth  initiatives to propel the Group forward in the coming year. 

● Tropicana’s unbilled sales remain robust at RM2.0 billion, underpinning the Group’s sustainable  earnings outlook. 

Petaling Jaya (27 February 2026) – In a filing to Bursa Malaysia, Tropicana Corporation Berhad  (“Tropicana” or “Group”) announced its unaudited financial results for the financial year  ended 31 December 2025. For this period, the Group recorded revenue of RM1.5 billion,  representing an increase of RM83.9 million or 6.0% compared to the previous financial year. 

The higher revenue was mainly driven by increased progress billings across key projects in the  Klang Valley, Southern and Northern regions. 

The Group recorded a lower loss before tax (“LBT”) RM15.5 million as compared to LBT of  RM117.1 million in the previous financial year. Higher losses in the previous financial year  were primarily attributable to a one-off loss arising from an asset disposal. Lower LBT in  FY2025 was mainly driven by operational factors. 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. 

Earlier on October 2025, the Group announced its fulfilment of payment obligations of RM139  million, a Tranche 4 payment under its RM1.5 billion Islamic Medium-Term Notes (“IMTN”)  Sukuk Wakalah Programme introduced in 2020, bringing total cumulative payments under the  programme to RM1.12 billion. In November 2025, Tropicana has successfully completed the  issuance of RM300 million IMTN, which was upsized from RM200 million amid robust investor  demand and was oversubscribed, with a significant portion taken up by government-linked  institutional investors.

Tropicana’s unbilled sales remain robust at RM2.0 billion, providing strong earnings visibility  and supporting sustained financial performance. This momentum is further underpinned by  its ongoing and upcoming signature developments across Malaysia, with a combined  estimated Gross Development Value (GDV) exceeding RM7.5 billion. 

The Group remains focused on sustaining its growth trajectory through enhanced sales  performance, strategic monetisation of landbanks and investment properties, and continued  financial optimisation. Reflecting this positive momentum, MARC Ratings revised its outlook  on Tropicana to positive from stable with an A rating. This upgrade reflects the Group’s  improved balance sheet, driven by successful deleveraging initiatives and asset disposals used  to reduce borrowings. 

“As we transition from 2025 into 2026, Tropicana is strategically positioned to accelerate  growth, supported by ongoing and upcoming developments with a combined GDV exceeding  RM7.5 billion. Our strategic campaigns, featuring signature developments at key property  hotspots across Malaysia, will make homeownership more accessible while sustaining strong  market interest. In line with our mission to transform Tropicana into a future-ready group  focused on sustainable growth, we have prioritised strengthening our core property segment  through an asset-light model, leveraging our development expertise, distinctive development  DNA and strong ESG commitments.,” shared the management. 

The Group continues to gain traction in the market with 11 new developments worth an  estimated GDV of RM3.1 billion: 

1. Idaman Tower @ Tropicana Aman, Kota Kemuning 

2. Varia Shop Offices @ Tropicana Aman, Kota Kemuning 

3. Serviced Apartments & Retail Shops @ Tropicana Cyberjaya, Sepang

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

5. Odesea Serviced Apartments @ Tropicana Shores, Langkawi 

6. Maia Solana, Maia Calista & Maia Estela Serviced Apartments @ Tropicana Lagoon,  Langkawi 

7. Bora Serviced Apartments @ Tropicana Danga Bay, Johor  

Delivery of Vacant Possession in FY2026:  

1. Umara Shop Offices @ Tropicana Aman, Kota Kemuning 

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

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

Tropicana’s current landbank stands at 1,336.1 acres, with a total potential GDV of RM168.4  billion. Tropicana is strategically positioned to unlock substantial value, drive sustained  growth, and deliver long-term performance over the coming years. 

Prime landbank: Tropicana has a sizeable landbank in the booming Johor market. One of its  star developments is Lido Waterfront Boulevard fronting the beautiful straits of Johor 

Seafront living: An artist’s impression of Skypark Kepler at Lido Waterfront Boulevard,  positioned as the first branded residences by Banyan Group in Johor

Living it up: Tropicana Avalon is poised to be the next commercial hub in Genting Highlands,  offering stylish residences and retail shops in the popular Gohtong Jaya area 

Pioneering smart living: Tropicana is the first developer to integrate Go Daikin into the T360  app. These MyHijau air conditioners will be installed in all 8 Tropicana new developments 

Building sustainable developments: Tropicana received 2 more green building certifications this  year for Tropicana Miyu, Petaling Jaya and Tropicana Cenang, Langkawi

Tropicana’s new hospitality arm: T Journey was created to grow Tropicana’s short-stay and  experiential hospitality portfolio, while extending long-term value to the Group’s property  purchasers 

Tropicana celebrated a significant improvement in its Environmental, Social and Governance  (“ESG”) rating, which has doubled from 2 stars to 4 stars. This achievement is underpinned by  Tropicana’s robust sustainability strategy, with an emphasis on corporate governance and the  integration of equity, environmental, social, and governance (“EESG”)

-End-

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