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

Petaling Jaya (27 August 2025) – 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.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

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.