South China Morning Post, 21 March 2014 - Tropicana's Resort-style Projects Set Urban-living Benchmark
South China Morning Post, 21 March 2014
Tropicana 's resort-style projects set urban living benchmark
Imagine living in a lush tropical retreat and stepping out to work at a prime business location just nearby. For Tropcana Corporator this almost idytlic picture is not just a fanciful architectural rendering, but a concrete reality. The residential and commercial developer has been Malaysia's pioneer in building outstanding resort-like developments where people can live, work and play.
By creating homes and offices in the best locations and integrating quality construction with verdant landscaping and practically in design, Tropicana has set the benchmark in urban living. It was the first developer in the country to introduce resort-style living in its innovative projects more than 20 years ago. Generating high-appreciation value, the group's sustainable projects are a testament to the symbiotic relationship of nature and modern construction.
Tropicana's assets have increased more than fivefold, from more than HK$1.1 billion to HK$6.1 billion over the last 10 years. Enjoying a commanding spot in Malaysia's property market, the group has a land bank of more than 917 hectares, with a gross development value of almost $1.8 billion ringgit (HK$793.7 billion).
For the fourth quarter last year, group revernue increased 90 per cent to 444.7 million ringgit from 234.4 million ringgit a year before. The group registered strong growth in profit before tax (PBT) of 399 per cent to 325.2 million ringgit, while next profit attributable to shareholders surged 313 per cent to 256.5 million ringgit from 62.1 million ringgit reported in the previous corresponding quarter.
For the full financial year ended December 31 last year, group revenue rose 134 per cent to 1.48 billion ringgit as compared to 630.4 million ringgit achieved in the financial year 2002. Consequently, group PBT rose 123.9 per cent to 503.5 million ringgit from 224.9 million ringgit previously, while net profit attributable to shareholders gained 112 per cent to 362.3 million ringgit in the year under review. Property development, resort operations 90 per cent of Tropicana's reviewers. The group is on the main board of Bursa Malaysia.
Tropicana's stellar performance last year was boosted by strong development sales over the past two years, with key contributing development projects including Tropicana Grande, Tropicana Avenue and Tropicana Gardens in Central Region (Klang Valley) and Tropicana Danaga Bay at Iskandar Malaysia, Johor.
"Drawing on the strength of Tropicana's development DNA, with emphasis on location, accessbility, innovative designs, security, efficient space utilisation, and creating communinty of short distances, the group is confident that its new projects will continue to be well-received," says Danny Tan, group executive vice-chairman of Tropicana Corporation.
Tropicana's Klang Valley development illustrates the company's philosophy of sustainably meeting the demands of progress without compromising resources for the future. Welcoming 2014 as a year of transformation, Tropicana has widened its scope beyond the valley to transform the landscape of prime locations in Penang, Johor Bahru, Negeri Sembilan and Sabah.
Cutting-edge projects and strong fundamentals.
Supplementing these core businesses is Tropicana Gold & Country Resort, a luxurious township located in the prime suburb of Petaling Jaya. Founded in 1995, the exclusive community brings the comforts of resort facilities to thousands of local and expatriate residents. The high-end resort was Tan's brainchild - a success story of overcoming risks and resping rewards for homeowners who have seen the value of their properties rise almost tenfold. Set amid the beautifully landscaped greens of the 27 hole East and West championship golf courses, the 253-hectare resort is Tropicana's most established brand. It is regarded as one of the most prestigious developments in the country and has won the prestigious International Real Estate Federation award and the International Property Awards.
The company ventured into property investment through Tropicana City, a mixed commercial development in Petaling Jaya launched in 2009. It comprisers the trendy Tropicana City Mall, the avantgarde Tropicana City Office Tower, they stylish Tropicana City Tropics serviced apartments and the trendy Damansara Inta e-Business Park. For buyers looking for a more cosmopolitan lifestyle, the Casa Suites at the Damansara Intan offers stylish apartments and complete amenitties.
The Tropicana City Office Tower houses are the group's new headquarters, an international investment bank and one of Malaysia's leading media outfits.
The group also provides management expertise and maintenance services through its Tropicana Corporation Management Services/ It manages a portfolio that includes Tropicana Golf & Country Resort, Tropicana Indah Resort Homes, Tropicana City, Casa Tropicana condominiums and other developments.
Tropicana's foray intro manufacturing resulted in a pioneering producer of emulsion explosives. Tenaha Kimia Sendirian Berhad (TKSB) manufacturers a complete range of blasting products and accessories. AN ISO 9001-2000 accredited company. TKSB provides technical services throughout Southeast Asia and supplies the mining and construction industries with total explosives and blasting solutions.
"Success in implementing its transformation strategy has enabled Tropicana to achieve key milestones in its development activities, where new sales in 2013 reached a record high of 2.16 billion ringgit. Ongoing projects and new launches across key central, southern and northern regions enjoy strong response from buyers," Tan says.