The Star, 3 October 2014 - Tropicana selling land for RM37.6mil

3 October 2014

Tropicana Subang South Development Sdn Bhd, has entered into an agreement with Mediaraya Sdn Bhd to dispose of a piece land for RM37.55mil Tropicana said in a filing with Bursa Malaysia that the 9.968 sq m freehold land was sited at Lot 4887, Bandar Subang Jaya, Selangor It said the rationale for the disposal was to realise gains and raise funds for working capital and/or repayment of the group's bank borrowings. "The disposal is also in line with Tropicana Group's de-gearing exercise to strengthen its financial footing." the group said