Tropicana
What we found
In a 2026 defamation suit, the High Court awarded Tropicana Corporation and its subsidiary RM300,000 against a buyer's representative who smashed parts of a KLCC unit, finding he acted maliciously.
The evidence
Delivery
PositiveThe FY2025 net loss narrowed to RM118.83 million from RM208.52 million, with the company citing advanced construction stages at its major townships.
Regulatory and legal
NegativeA 2023 High Court lawsuit by Sunway Education, RHB Trustees and Sunway REIT Management alleged Tropicana breached a conduct agreement, which Tropicana denied and sought to have struck out as scandalous.
Corporate continuity
PositiveMARC Ratings revised its outlook on Tropicana to positive from stable, with an A rating, after the company completed a RM300 million IMTN issuance in November 2025.
2 more findings
Tropicana's Q3 2025 results showed a net loss of RM56.26 million against RM443.69 million a year earlier, following a prior-year provision for foreseeable losses of RM474.8 million on disposals of an investment property and three development land parcels.
Tropicana's borrowings were RM3.16 billion as at 31 December 2023, down 16.18% from the prior year, and the company said it was trimming debt through asset sales.