Tropicana Gardens Mall Put Up For Sale For RM680 Million, As Owner Steps Up Divestments
Tropicana Gardens Mall Put Up For Sale For RM680 Million, As Owner Steps Up Divestments
Tropicana Indah Sdn Bhd (TISB), an indirect 70%-owned subsidiary of Tropicana Corporation Berhad (Tropicana), has signed a sale & purchase agreement (SPA) with IOI Mall Damansara Sdn Bhd (IOI MD), a wholly-owned subsidiary of IOI Properties Group Berhad (IOIPG), for the sale of Tropicana Gardens Mall (TGM" for a total consideration of RM680 million.
Tropicana Indah私人有限公司(TISB)是Tropicana Corporation Berhad(Tropicana)的間接控股子公司,已與IOI Mall Damansara私人有限公司(IOI MD)簽署銷售和購買協議(SPA),出售Tropicana Gardens Mall(TGM)總售價爲RM68000萬。
In a Bursas Malaysia filing today, Tropicana said the disposal will enable the monetisation of Tropicana's investment property. The proceeds from the sale will be used to substantially reduce the Group's debt, thereby improving the cash flow position and reducing interest expenses.
根據Tropicana在Bursas Malaysia的申報,該出售將有助於變現Tropicana的投資性物業。出售所得將用於大大減少集團的債務,從而改善現金流狀況並減少利息支出。
This transaction aligns with the Group's ongoing strategic initiatives to monetise its low-yielding landbanks and investment properties, providing the financial flexibility necessary to support future growth.
這筆交易符合該集團持續的戰略舉措,以變現其低收益土地庫和投資物業,提供爲未來增長提供必要的財務靈活性。
As a result of this disposal, the Tropicana Group's pro forma gearing ratio is expected to decrease from 0.54 times (as of 31 December 2023) to 0.39 time. In addition to TGM disposal, the Group has also sold two other investment assets – W KL Hotel and Courtyard by Marriott Penang – to IOIPG for a total consideration of RM435 million. Including TGM, the total transaction value with IOPG is in excess of RM1.1 billion.
由於本次出售,Tropicana集團的資本結構比率預計將從2023年12月31日的0.54次下降到0.39次。除了TGm出售之外,該集團還將W KL酒店和馬來西亞檳城萬怡酒店等兩個投資資產出售給IOIPG,總價值爲4,3500萬元。包括TGm在內,與IOPG的總交易價值超過11億馬來西亞元。
With the ongoing disposal initiatives, the Group's gearing will continue to decline, and its financial position will strengthen.
隨着持續的出售舉措,該集團的資本結構將繼續下降,其財務狀況將會加強。
The management cited, "This year, the Group reported a string of positive news, from its successful sukuk redemption, higher revenue jump to multiple award triumphs. We are confident that the Group will continue to strengthen its market presence and contribute to its future earnings supported by high unbilled sales of RM2.4 billion and strong take-up for ongoing projects. This sale also marks Tropicana's efforts to maintain financial discipline and enhance our financial stability. With substantial strategic landbanks across Klang Valley, Johor, and Genting Highlands, Tropicana has the flexibility to reposition its asset and debt portfolios effectively."
管理層稱:“今年,集團取得了一系列積極的消息,從成功的伊斯蘭金券兌現,營業收入的大幅增長,到多次獎項的勝利。我們相信,通過已售未開銷售額高達24億馬來西亞元的,以及正在進行的項目的強勁接受程度,集團將會繼續增強市場佔有率,併爲未來盈利做出貢獻。這次出售也標誌着Tropicana保持財務紀律和增強財務穩定性的努力。憑藉在吉隆坡谷,新山和雲頂高原的大量土地,Tropicana有能力有效地重新定位資產和債務組合。”
"Our mission is to transform Tropicana into a future-ready property group with a strong purpose of sustainable growth, centred around our development DNAs and ESG commitments. We have strategic divestment plans that we are confident of achieving and will continue to roll out effective sales campaigns to drive growth, especially emphasising our digital and online initiatives and customer-centric engagements," the management said.
管理層表示:“我們的使命是將Tropicana轉變爲一個未來的,具有強大可持續增長目標的房地產集團,以我們的開發DNA和ESG承諾爲中心。我們有戰略性的減持計劃,我們有信心能夠實現,並將繼續推出有效的銷售活動以推動增長,特別是強調我們的數字化和在線舉措以及客戶爲中心的參與。”
Opened its doors in 2020, Tropicana Gardens Mall is a popular neighbourhood mall strategically located at the Kota Damansara and Tropicana Indah intersection. This 7-storey mall features direct connectivity to Surian MRT Station as well as a sizeable 1.05 million sq ft of net floor area. Recently, the Mall also received green building certification (GBI), demonstrating its strong commitment to ESG best practices.
Tropicana Gardens Mall是一個流行的地標購物中心,於2020年開業,位於Kota Damansara和Tropicana Indah路口,面積達到105萬平方英尺,擁有7層樓,並直接連接Surian MRt車站。該購物中心最近還獲得了綠色建築認證(GBI),展示了其堅定的承諾加強ESG最佳實踐。
"For the financial period ended 31 March 2024, we reported a revenue of RM291.3 million which was RM34.5 million or 13.5% higher when compared to the corresponding quarter in the preceding year. The Group's profit before tax ("PBT") has also increased to RM22.3 million in Q1 2024, compared to a PBT of RM0.8 million in Q1 2023. To spur growth, we plan to roll out exciting residential or commercial developments across Malaysia, with an estimated GDV of RM4 billion. We expect our financial position to strengthen with the upcoming handover of 6 vacant possessions this year from Tropicana Aman, Tropicana Miyu, Tropicana Metropark, and Tropicana Uplands." the management added.
管理層補充道:“截至2024年3月31日的財務期間,我們報告的營業收入爲2,9130萬馬來西亞元,比上一年相應季度高出3450萬馬來西亞元或13.5%。集團的稅前利潤(“PBT”)也在2024年第一季度達到了2,230萬馬來西亞元,而在2023年第一季度,該利潤只有80萬馬來西亞元。爲了推動增長,我們計劃在全馬推出令人興奮的住宅或商業開發項目,估計總價值達400億馬來西亞元。我們預計隨着Tropicana Aman,Tropicana Miyu,Tropicana Metropark和Tropicana Uplands今年交付的6個空置物業的移交,我們的財務狀況將得到進一步改善。”
Tropicana possesses a sizeable landbank of 1,842 acres with an estimated GDV of RM120 billion, placing the Group in a good position to deliver sustainable performance in the next few years.
Tropicana擁有1842畝土地儲備,估計總價值爲1,200億馬幣,使該集團有望在未來幾年中實現可持續發展。