Tropicana's resort-style projects set urban living benchmark

Imagine living in a lush tropical retreat and stepping out to work at a prime business location just nearby. For Tropicana Corporation, this almost idyllic picture is not just a fanciful architectural rendering, but a concrete reality. The residential and commercial developer has been Malaysia's pioneer in building outstanding resort-like developments where people can live, work and play.

By creating homes and offices in the best locations and integrating quality construction with verdant landscaping and practicality in design, Tropicana has set the benchmark in urban living. It was the first developer in the country to introduce resort-style living in its innovative projects more than 20 years ago. Generating high-appreciation value, the group's sustainable projects are a testament to the symbiotic relationship of nature and modern construction.

Tropicana's assets have increased more than fivefold, from more than HK$1.1 billion to HK$6.1 billion over the last 10 years. Enjoying a commanding spot in Malaysia's property market, the group has a land bank of more than 917 hectares, with a gross development value of almost 81.8 billion ringgit (HK$193.7 billion).

For the fourth quarter last year, group revenue increased 90 per cent to 444.7 million ringgit from 234.4 million ringgit a year before. The group registered strong growth in profit before tax (PBT) of 399 per cent to 325.2 million ringgit, while net profit attributable to shareholders surged 313 per cent to 256.5 million ringgit from 62.1 million ringgit reported in the previous corresponding quarter.

For the full financial year ended December 31 last year, group revenue rose 134 per cent to 1.48 billion ringgit as compared to 630.4 million ringgit achieved in the financial year 2012. Consequently, group PBT rose 123.9 per cent to 503.6 million ringgit from 224.9 million ringgit previously, while net profit attributable to shareholders gained 112 per cent to 362.3 million ringgit in the year under review. Property development, resort operations and property investment generate 90 per cent of Tropicana's revenues. The group is on the main board of Bursa Malaysia.

Tropicana's stellar performance last year was boosted by strong development sales over the past two years, with key contributing development projects including Tropicana Grande, Tropicana Avenue and Tropicana Gardens in Central Region (Klang Valley), and Tropicana Danga Bay at Iskandar Malaysia, Johor.