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. — theedgemarkets.com

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