The Address Sept-Oct 2013

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Plans for a Prosperous Future GOING FORWARD: THE POWER OF BELIEF TROPICANA CORPORATION’ S IMMEDIATE VISION AND MISSION – Tropicana Corporation Berhad’s current goal is to solidify the Group’s positioning as a leading property developer in Malaysia. In order to do so, it requires a solid platform to sustain a strong growth in sales – this is achieved with the presence of a strong pipeline of future projects, strategically gleaned from more than 2,000 acres of prime development landbank with a potential future GDV of RM70 billion. Having spread its wings to Greater KL, Iskandar Malaysia and Penang, the Group possesses a strong presence in these growth regions. “This future GDV of RM70 billion is spread out across these three regions with Greater KL accounting for 49% of future GDV, Iskandar Malaysia 36% and the remainder up north on Penang Island,” says Dato’ Yau Kok Seng, Group Chief Executive Officer of Tropicana. He further added, “Based on our current plans, we are focusing equally on commercial and residential properties.” In the Group’s Fiscal Year 2013 (FY13), Tropicana Corporation plans to target new sales of RM2.0 billion, and to anticipate new property launches worth RM3.0 billion. Sales of ongoing as well as completed inventories worth RM800 million are expected to accelerate in this period. Steady contribution from property investments and enhanced earnings with land trading activities will put the Group in a stronger and more secure position. At present, the Group has chalked up 1Q FY13 new sales of RM254 million, with new sales to-date having risen to RM420 million. With sustainable earnings growth prospects which consist of unbilled sales of around RM1.1 billion as at March 2013, Tropicana Corporation plans to further strengthen its balance sheet via asset monetisation and a pro-active degearing exercise which is expected to achieve a net gearing of 0.65x by end FY13 and 0.5x by end Fiscal Year 2014 (FY14). Corporation Berhad can only go forward and more confident in its vision and mission to become one of Malaysia’s leading property players. Tropicana Corporation’s development plan for this year and the near future is to have a sustainable market driven approach, where their development plans are concerned, with a target to achieve about 20% to 25% compound annual growth rate (CAGR) in launches over the next three to five years. Planned launches for the current year are estimated at RM3.0 billion. ANOTHER WIN FOR TROPICANA – Adding another feather to its cap, Tropicana Corporation Berhad took home the BCI Asia Top 10 Developers Award 2013 for its role as a key industry player in the property industry and its numerous social and environmental contributions. The BCI Asia Awards is a regional event attended by the industry’s top architects and building professionals in Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. This event provides an overview of the regional building and construction industry by recognising the top architectural firms and developers that had the greatest impact on the built environment in Southeast Asia. ➢ Tropicana’s success is mostly due to its dynamic and experienced management team that is able to deliver growth strategies and capital management initiatives. Despite the changes at the top management level, Dato’ Yau Kok Seng said, “Firstly, I must acknowledge that I am very fortunate to have inherited a very good team. What I needed was to further strengthen the team in order for us to execute the corporate strategy that we have now formulated. I have reviewed the organisation chart, identified the competency gaps and all the key positions have substantially been filled. Proper succession is also in place, and the Group will continue to focus on the importance in maintaining our talent pool through talent management and embarking on learning and development programme.” Coupled with its strongest asset and a signature of the Group – the Tropicana brand name – which has long been recognised for quality, innovation and visionary outlook, Tropicana Presenting the award — From left: Dr Matthias Krups, Chairman and CEO of BCI Media Group presenting the award to Edmund Kong, Deputy Group Managing Director of Tropicana Corporation Berhad SEPT/OCT 2013 | TA 53
← TRUE VALUE REALISED – In line with Tropicana Corporation Berhad’s strategy to unlock landbank value and degear its balance sheet, the property developer has decided to dispose of two adjacent parcels of leasehold land – located in Tropicana Golf & Country Resort – to Mayfair Ventures Sdn Bhd, a wholly-owned subsidiary of Mulpha Land Berhad for RM116.1 million. Dato’ Yau Kok Seng, Group Chief Executive Officer of Tropicana lauded the move, saying that the sale of the land at approximately RM416 per square foot “is a fair level for us to crystallise the value of these land parcels.” He further added, “This disposal will not only result in an immediate and significant enhancement to our current year earnings, but the cash raised will further strengthen our delivery platform and position us to sustain our growth over the medium to longer term.” With a targeted completion in the fourth quarter of 2013, the Group is expected to profit from a net gain of RM87 million, which will translate into a 9.1 sen boost to Tropicana Corporation’s net earnings per share for the financial year ending 31 December 2013. This figure is based on the Group’s current share capital base of RM949.4 million ordinary shares of RM1 each. Sealing the deal — From left: Dato’ Andy Khoo Poh Chye, Executive Director of Tropicana; Dato’ Yau Kok Seng, Group CEO of Tropicana; Ronn Yong, Deputy CEO, Property of Mulpha International Berhad and Ghazie Yeoh Abdullah, Executive Director of Mulpha Land Berhad At present, the Group is focusing on high-GDV and scalable key development projects in Greater KL, Iskandar Malaysia and Penang Island, with new launches of RM3.0 billion expected to take place soon in these locations. Dato’ Yau added, “As we embark on this exciting growth phase, we are also constantly assessing capital management initiatives, including land sales, to ensure that the Group’s resources are employed in the most efficient and effective manner. This will improve the Group’s returns and profitability, and ultimately create more value for our shareholders.” 54 TA | SEPT/OCT 2013
Page 1 and 2:
A TROPICANA MAGAZINE pg 58 pg 64 pg
Page 3 and 4:
CONTENTS CHAPTER ONE THE LATEST/ PA
Page 5 and 6:
Advantages of the Follicular Unit E
Page 7 and 8:
CREATING WITHOUT LIMITS USING THE F
Page 9 and 10:
TROPICANA CITY MALL No 3, Jalan SS2
Page 11 and 12: TROPICANA GOLF & COUNTRY RESORT 474
Page 13 and 14: TROPICANA GOLF & COUNTRY RESORT 474
Page 15 and 16: KODAKARA PEAK The Kodakara Peak has
Page 17 and 18: EDITOR’S NOTE Every issue of The
Page 19 and 20: Rasa Kampung BUFFET REVIEW 1 TROPIC
Page 21 and 22: Raja Permaisuri Agong Cup CHARITY G
Page 23 and 24: 1 Miss Malaysia Tourism 2013 FASHIO
Page 25 and 26: 1 The Tropicana COLLECTION TROPICAN
Page 27 and 28: Dazzling Tiles BY MURANO DÉCOR 1 K
Page 29 and 30: 1 Calvin Klein WATCHES & JEWELRY HO
Page 31 and 32: FACILITIES AND TENANTS AT TROPICANA
Page 33 and 34: FACILITIES AND TENANTS AT TROPICANA
Page 35 and 36: THE ADDRESS IS EXCLUSIVELY CIRCULAT
Page 37 and 38: CHAPTER ONE THE LATEST NEW OPENINGS
Page 39 and 40: FASHION BE A MCQUEEN For Pre-Autumn
Page 41 and 42: GADGETS & HOME LIVING LIMITED EDITI
Page 43 and 44: BOOKS FEASTS OF PENANG: MUSLIM CULI
Page 45 and 46: MOVIES 2 GUNS For the past one year
Page 47 and 48: THE DIARY 4 - 18 September MID AUTU
Page 49 and 50: CHAPTER TWO THE HOME HOME & INTERIO
Page 51 and 52: WITH FOOD PLAYING SUCH AN IMPORTANT
Page 53 and 54: There is no such thing as a simple
Page 55 and 56: A Slice of Metropolis Heaven TROPIC
Page 57 and 58: 1 1 — Tropicana Metropark’s gro
Page 59 and 60: ← applies to their duties and job
Page 61: — An artist’s impression of Tro
Page 65 and 66: TROPICAL BEAUTIES
Page 67 and 68: 60 TA | SEPT/OCT 2013
Page 69 and 70: “It was very overwhelming at firs
Page 71 and 72: — Château Latour If sipping eleg
Page 73 and 74: Clockwise from bottom left — Roya
Page 75 and 76: WORDS AUDREY TEOH PHOTOGRAPH CORBIS
Page 77 and 78: — Czech Krumlov architecture; Vie
Page 79 and 80: Clockwise from left — A scenic vi
Page 81 and 82: Not every man wants to be Tony Star
Page 83 and 84: SEPT/OCT 2013 | TA 77
Page 85 and 86: A matter of GOOD TASTE Photographs
Page 87 and 88: Tangoo toga chiffon dress; Carrera
Page 91 and 92: DKNY sheer maxi dress with jersey p
Page 93 and 94: STYLE wave by Deborah Lee PLAID AND
Page 95 and 96: Christole · A PRESTIGIOUS LEGACY
Page 97 and 98: Galea table spoon and dinner fork,
Page 101 and 102: 96 TA | SEPT/OCT 2013 America cigar
Page 103 and 104: Appetising Scents Photographs by Li
Page 105 and 106: GRAPEFRUIT Diptyque L’Eau des Hes
Page 107 and 108: CUCUMBER Bobbi Brown Bobbi, 50 ml,
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The Address Sept-Oct 2013

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