PETALING JAYA: Tropicana Corp Bhd
has announced that it has redeemed RM133.2mil under its RM1.5bil Islamic Medium-Term Notes (IMTN) 2020 Sukuk Wakalah Programme, bringing total cumulative payments under the programme to RM1.25bil.
In a statement, the company said this redemption forms part of several initiatives to reduce overall borrowings and strengthen the group’s balance sheet.
“Last month the group announced the full redemption of RM89.43mil, its outstanding Tranche 1 perpetual sukuk. “In October 2025, the group also announced the fulfilment of a RM139mil payment obligation, representing the Tranche 4 payment under IMTN 2020 Sukuk Wakalah Programme.”
Subsequently, in November 2025, Tropicana successfully issued RM300mil in IMTN 2024 Sukuk Wakalah Programme—upsized from an initial RM200mil following strong investor demand.
“The issuance was oversubscribed, with a significant portion taken up by government-linked institutional investors. These milestones highlight Tropicana’s prudent financial management and its commitment to honouring obligations to investors.”
Tropicana said its unbilled sales remain strong at RM2bil.
“This performance is further supported by the group’s ongoing and upcoming signature developments across Malaysia, with a combined estimated gross development value exceeding RM7.5bil.”
