Tropicana property ops still strong despite pandemic

Group managing director Dion Tan (pic) said its property sales performed well due to the commitment and support from its team.

KUALA LUMPUR: Despite Tropicana Corp Bhd recording higher property sales, its revenue slipped 41.9% to RM194.98mil for the second quarter ended June 30 from RM335.67mil due to the weak performance of its property investment, recreation and resort operations.

In a statement, the group said the weaker performance was dragged by the enforcement of the movement control order (MCO), which negatively impacted its operations.

Meanwhile, Tropicana posted a net loss of RM25.05mil for the quarter due to the MCO leading to disruptions in operations and resulting in a loss.

However, the group said its property development and property management division still performed strongly and profitably despite the enforcement of the MCO. Its property sales jumped 970.3% to RM349.6mil.

Group managing director Dion Tan said its property sales performed well due to the commitment and support from its team.

“We will continue to monitor the market and roll out more engagement initiatives to drive more sales.

“Our campaigns such as Tropicana 100, which offers 100% flexible home ownership solutions on property purchase, and our Tropicana FreeDOM featuring attractive packages for completed units have received favourable responses,” he said.

However, Tan pointed out that the pandemic has caused disruption and delays in the rollout of its new as well as ongoing projects.

“The lockdown has also negatively impacted our property investment, recreation and resort operations,” he added.