• Property

Tropicana Indah Sdn Bhd (“TISB”), an indirect 70%-owned  subsidiary of Tropicana Corporation Berhad (“Tropicana” or “Group”), has signed a sale & purchase agreement (“SPA”) with IOI Mall Damansara Sdn Bhd (“IOI MD”), a wholly-owned  subsidiary of IOI Properties Group Berhad (“IOIPG”), for the sale of Tropicana Gardens Mall  (“TGM”) for a total consideration of RM680 million. This disposal will enable the monetisation  of Tropicana’s investment property. The proceeds from the sale will be used to substantially  reduce the Group’s debt, thereby improving the cash flow position and reducing interest  expenses. This transaction aligns with the Group’s ongoing strategic initiatives to monetise its  low-yielding landbanks and investment properties, providing the financial flexibility necessary  to support future growth.