Tropicana Magazine Mar-Apr 2019 #123: Celebration of Beginnings

PROPERTY NEWS
Tan Sri Dato’ Danny Tan Chee Sing
Group Executive Vice Chairman, Tropicana Corporation Berhad
Tan Sri Lim Wee Chai
Non-Executive Chairman of Tropicana Group
Auspicious Start for Tropicana Group
Flagship Property Galleries
Early this year, Tropicana Corporation Berhad entered
into 12 conditional share purchase agreements in regards
to the proposed acquisitions of target companies including
companies from GP Group, DL Group and TK Group.
This initiative has increased Tropicana’s potential Gross
Development Value (GDV) to RM78.18 billion through
the injection of strategic lank banks and joint partnerships.
These land banks from the companies that are located in
Klang Valley and Johor amount to a total of 111.6 acres
which have a potential GDV of RM24.82 billion.
On this same day, the redesignation of Tan Sri Dr Lim
Wee Chai was announced from his previous post of Non-
Executive Deputy Chairman to Non-Executive Chairman
of Tropicana Group. Excitingly, founder, Tan Sri Dato’ Tan
Chee Sing (Tan Sri Dato’ Danny Tan) announced his return
as Group Executive Vice Chairman. “Through the corporate
exercises, we have added strategic land banks into the
Group making it a total of 2243.93 acres with the combined
GDV potential of RM71.42 billion. Additionally, through
Proposed Collaborations, Tropicana has access to a further
1,328.76 acres with a GDV of RM6.76 billion. Thus, January
2019 will be the right time for me to return and pursue a fulltime
role.” Tan Sri Dato’ Danny Tan stated.
TM | MARCH/APRIL 2019
50