The Edge CEO Morning Brief - Tropicana buys 308 acres of land in Pahang to expand its landbank

KUALA LUMPUR (Nov 10): Tropicana Corp Bhd is buying two pieces of contiguous freehold land next to its Tropicana Grandhill development in Bentong, Pahang, for RM402.49 million to expand its landbank and enhance its property development profile in the Genting Highlands.

It is buying the plots, which measure a collective 308 acres, from wholly-owned subsidiaries of YTL Land and Development Bhd, Satria Sewira Sdn Bhd and Emerald Hectares Sdn Bhd.

YTLCorp Bhd managing director Datuk Yeoh Seok Kian and YTL Corp executive director Datuk Yeoh Soo Min are the directors of both Satria Sewira and Emerald Hectares.

The first plot, which it is buying for RM178.16 million, is a 102-acre piece of land. The second plot, priced at RM224.33 million, measures 206 acres.