Tropicana Corp sets up new unit in China

KUALA LUMPUR (Aug 2): Tropicana Corp Bhd has established a wholly-owned subsidiary, Tropicana Business Consulting (Shenzhen) Pte Ltd (TBCS), in Shenzhen, China, Bernama reported yesterday.

In a filing with Bursa Malaysia yesterday, Tropicana said TBCS was registered in Shenzhen on July 17, 2018 as a private limited liability company with a registered capital of RMB36 million (RM21.5 million).

“TBCS will provide business consulting, conference and exhibition, business information and enterprise management consulting services in China,” said the property developer.

The new subsidiary would help the group’s expansion plan and/or operations and promote its related properties in China.

The company also added that TBCS would have no effect on the share capital or the substantial shareholders’ shareholdings of Tropicana Corp and was not expected to have any material effect on the group’s net assets, gearing and earnings for the current financial year ending Dec 31, 2018, reported Bernama.