KUALA LUMPUR (March 25): Tropicana Corp Bhd (KL:TROP) said it has fully redeemed its RM89.43 million Tranche 1 perpetual sukuk. Originally issued in September 2019, the outstanding Tranche 1 perpetual sukuk was secured to fund key projects across Tropicana’s strategic townships in Malaysia. “The full redemption of the Tranche 1 perpetual sukuk reflects the steady progress we are making in strengthening Tropicana as an organisation and reinforces our commitment to meeting our obligations. As at Dec 31, 2025, Tropicana Corp's total borrowings stood at RM2.75 billion, slightly higher than RM2.31 billion a year earlier. Shares in Tropicana Corp closed three sen or 2.31% lower at RM1.27 on Wednesday, valuing the developer at RM3.19 billion.

Source: The Edge Markets March 25, 2026 14:04 UTC