New Straits Times, 18 March 2014 - Tropicana announces changes to few key positions

New Straits Times, 18 March 2014

KUALA LUMPUR: Tropicana Corp Bhd, which is developing multi-billion ringgit projects in Kuala Lumpur, Johor and Penang, has announced a few changes in key positions within the group to support its growth.

The company has promoted two key members of its senior management team and appointed a second group managing director to help transform the company into one of Malaysia's top property developers.

Former group managing director Datuk Dickson Tan was promoted to deputy group chief executive officer. His deputy, Edmund Kong Woon Jun, was appointed group managing director.

Kok Kong Chin, previously a banker at CIMB Group, was appointed as the other group managing director effective March 14.

Prior to joining CIMB, Kok was the Malaysia country head of an Asian Investment House, affiliated to the Mitsubishi UFJ Financial Group.

Tropicana founder and group executive vice-chairman Tan Sri Danny Tan said the promotion of Dickson Tan and Kong to higher positions is timely as it coincides with the company's strategic transformation plan to accelerate growth and unlock value of its asset base and landbank.

"The significant increase in the scale of our operations demands sharper management and operational focus. I am confident that this dynamic and highly capable team will steer Tropicana to greater success as we continue with our transformation journey," Danny Tan said in a statement. Tropicana is developing a portfolio of multi-billion ringgit projects in Greater Kuala Lumpur, Iskandar Malaysia and Penang.

Among new projects planned for this year includes maiden launches from its two new Greater KL townships, namely Tropicana Heights in Kajang and Tropicana Aman (previously Tropicana Canal City).

Tropicana aims to sustain the high sales of RM2.2 billion and unbilled sales recorded last year with its planned launches this year.

The company has 907ha of landbank in strategic, key growth regions in Malaysia, which has an estimated gross development value of nearly RM82 billion.

"There is strong potential for unlocking value in these landbanks, and for Tropicana to sustain growth in its continued focus to become a premier property group in Malaysia," Danny Tan said.