Tropicana, China Metallurgical in talks about township development


KUALA LUMPUR (Sept 22): Tropicana Corp Bhd is talking to China Metallurgical Group Corp on a potential township development joint venture (JV).

Tropicana group chief executive officer Datuk Yau Kok Seng said Tropicana's discussion with China Metallurgical is still at preliminary stage. He did not elaborate.

Yau said Tropicana and China Metallurgical already had existing JVs. He said both companies were looking into long-term partnership.

"We are looking into forming a long-term strategic partnership. We are looking at other projects too, especially township development," Yau told reporters after the topping out ceremony here for the "Tropicana The Residences KLCC" project.

The website of "Tropicana The Residences KLCC" indicates that the freehold project is a mixed development along Jalan Ampang here. The project comprises residential units and a hotel.

At Bursa Malaysia, Tropicana shares settled unchanged at RM1.03 at 12:30pm for a market value of RM1.47 billion. The stock saw 55,500 shares traded. —

Try out one of our super tools, the rental yield calculator, here.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. Tropicana collaborates with Puncak Alam Housing for affordable housing project
  2. Tropicana kicks off FY21 on lower note
  3. Tropicana 4Q net profit surges on proceeds from land sales