New Straits Times Online - Tropicana Redeems RM465.5mil Sukuk, on Track for Degearing & Growth
KUALA LUMPUR: Property developer Tropicana Corporation Bhd says it has redeemed its RM465.5 million of sukuk Wakalah due on June 30.
The sukuk Wakalah was part of the RM1.5 billion Islamic medium
Term notes issued by Tropicana.
The company, in a statement today, said it will continue to deliver sustainable earnings backed by its solid RM2.1 billion unbilled sales, ongoing property sales campaign as well as improved performance from its property development, property investment, recreation and resort operations.
"Sustainability is part of Tropicana's core and we have prioritised the property segment, anchored on our development DNA and ESG commitments.
Overall, Tropicana's total landbank spans 846 hectares, with a total potential GDV of RM203.7 billion