Kuala lumpur: Tropicana Corporation Bhd has redeemed another tranche of the sukuk wakalah programme worth RM100 million due today. The company announced in a statement that it had previously redeemed a tranche of RM123.5 million on June 30, 2025, under the same programme.

According to BERNAMA News Agency, the redemption of sukuk demonstrates Tropicana’s financial management and commitment to meeting its obligations to investors. The group continues to deliver earnings supported by its RM2.1 billion in unbilled sales and is gaining market traction with its ongoing and new developments, which have an estimated gross development value (GDV) of RM6.5 billion across Malaysia.

Tropicana aims to maintain its growth trajectory through initiatives to enhance sales performance, monetise its landbank and investment properties, and optimise financial management. The property investment group’s balance sheet shows improvement, with gross gearing level reduced from 0.43 times as of December 31, 2024, to 0.42 times as of June 30, 2025.

Tropicana has strategic divestment plans and intends to continue effective sales campaigns to drive growth. The group also expressed gratitude towards its business partners for their support. Tropicana’s current landbank stands at 1,336.1 acres (540.70 hectares), with a total potential GDV of RM168.4 billion.