Nanyang Siang Pau - Tropicana Corp acquires scaffold firm for RM2.5 million

Kuala Lumpur, 13 January 2018 – Tropicana Corp. Bhd. (TROP, 5401, main market, property) acquires every stake in scaffold firm, Myxon (M) Sdn Bhd.

Tropicana reported to Bursa Malaysia that the group acquires 1,000,000 ordinary shares representing 100% of the issued and paid-up share capital of Myxon (M) Sdn Bhd. Upon completion, Myxon will be the subsidiary of Tropicana Corp. Bhd. Myxon, which was incorporated on May 20, 2013, is involved in the sale and rent of new and used scaffolding and formwork equipment.

Tropicana said its director Datuk Tang Vee Mun, has abstained from deliberating and voting on the directors' resolution pertaining to the acquisition, as he is the interested party in this acquisition.