Tropicana enters JV for Kuala Selangor development


KUALA LUMPUR: Tropicana Corp Bhd unit Tropicana Senibong Sdn Bhd has entered into a joint venture with Puncak Alam Housing Sdn Bhd to develop three parcels of leasehold land with an aggregate area of about 362.742 acres in Mukim of Ijok in Kuala Selangor.

The group said in a filing with Bursa Malaysia that Tropicana Senibong will undertake the property development and pay to Puncak Alam a proprieter's entitlement of RM334.54mil progressively over 72 months.

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