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- The higher revenue was mainly driven by increased progress billings across key projects in the Klang Valley, Southern and Northern regions.
PETALING JAYA (Nov 26): Tropicana Corp Bhd announced its unaudited financial results for the financial period ended Sept 30, 2025 today.
The group recorded revenue of RM1.0 billion, representing an increase of RM135.1 million or 15.4% compared to the corresponding period of the previous financial year. The higher revenue was mainly driven by increased progress billings across key projects in the Klang Valley, Southern and Northern regions.
Tropicana reported a profit before tax (PBT) of RM0.7 million, compared to a loss before tax (LBT) of RM435.9 million in the preceding year. The improvement in performance was primarily attributable to the absence of the one-off provision for foreseeable losses of divestment properties, as well as higher progress billings arising from the advanced stages of construction work for the group’s ongoing projects.
Earlier on October 2025, the group announced its fulfilment of payment obligations of RM139 million, a Tranche 4 payment under its RM1.5 billion Islamic Medium-Term Notes (IMTN) Sukuk Wakalah Programme introduced in 2020, bringing total cumulative payments under the programme to RM1.12 billion.
In November 2025, Tropicana has successfully completed the issuance of RM300 million IMTN, which was upsized from RM200 million amid robust investor demand and was oversubscribed, with a significant portion taken up by government-linked institutional investors.
“The Group remains focused on sustaining its growth trajectory through enhanced sales performance, strategic monetisation of landbanks and investment properties, and continued financial optimisation,” stated Tropicana in a media release.
“MARC Ratings revised its outlook on Tropicana to positive from stable with an A rating. This upgrade reflects the Group’s improved balance sheet, driven by successful deleveraging initiatives and asset disposals used to reduce borrowings,” it added.
“In line with our mission to transform Tropicana into a future-ready group committed to sustainable growth, we have prioritised strengthening our core property segment, leveraging on our expertise, our unique development DNA and ESG commitments. We extend our sincere appreciation to our Tropicana team and business partners for their unwavering support, trust and contribution to our Group,” stated the management.
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