Lasallian Asia exits international school project in Selangor

KUALA LUMPUR: Property outfit Tropicana Corp Bhd has said that Lasallian Asia Partnership for International Schools Pte Ltd (Lapis) has decided not to take up an equity stake in a joint venture to build an international school in Selangor.

In February last year, Tropicana’s subsidiary – Tropicana SJII Education Management Sdn Bhd – had entered into a shareholders’ agreement with Singapore-based school manager Lapis, while Tropicana Education Management Sdn Bhd (TEM) had signed a shareholders’ agreement with Lapis and Warisan Istimewa Sdn Bhd to set up St Joseph’s Institution International (Malaysia) in Sungai Buloh.