Sin Chew Daily - Tropicana joint development project

Tropicana joint development project

Tropicana Corp. Bhd. (TROP, 5401, main market, property) inked a joint venture agreement with Matrimont Development Sdn. Bhd. to jointly develop two plots of land in Petaling Jaya into a residential development. According to Tropicana's stock exchange filing today. The group will hold the remainder 51%, following a share issuance at the aggregate share subscription price of RM 249,999. Matrimont will take up a 49% stake in Vivascape and Tropicana Corp. Bhd. wholly-owned unit Tropicana Harapan Sdn. Bhd. (THSB) will hold the remainder 51%.