The Star - Tropicana earnings 71.5% higher in quarter one
As of March 31, Tropicana had delivered total unbilled sales of RM1.2bil, anchored by 15 ongoing projects and an existing land bank of 888.9 acres with a total gross development value of RM42.1 bil.
"The group will continue to focus on being market-driven and unlock the value of its land bank at strategic locations across the Klang yalley, northern and southern regions," it said in a filing with Bursa Malaysia.
With this in mind, Tropicana will continue to focus on the introduction of new phases across its signature developments, namely, Tropicana Heights, Tropicana Aman, Tropicana Metropark and Tropicana Danga Cove, which are expected to continue to contribute positively to group earnings.
"Tropicana is also confident of registering a steady recurring income stream from its property investment portfolio that includes international schools, namely St. Joseph's Institution International School Malaysia, GEMS International School and the latest addition, Tenby International School, which is expected to have its first intake of students in September 2018," said Tropicana.