Tropicana Corporation Berhad Annual Report 2017

CONTENTS This annual report is available at www.tropicanacorp.com.my SEC 1 ABOUT TROPICANA 4 Vision & Business Principles 5 Tropicana Corporation Berhad 6 Significant Milestones 8 Corporate Information 9 Corporate Structure 10 Signature Developments 12 Awards & Accolades 14 A Commitment to Excellence 16 Event Highlights 18 Tropicana In the News SEC 2 STRATEGIC PERFORMANCE 22 Management Discussion & Analysis 30 Performance at a Glance 32 Financial Highlights & Insights 34 Value Added Statement 35 Investor Relations 36 Quality Assurance SEC 3 LEADERSHIP 40 Profile of Founder & Advisor 40 Profile of Directors 45 Profile of Senior Management SEC 4 SUSTAINABILITY 48 Introduction to Sustainability 52 Economic Contributions 53 Social Engagement 58 Environmental Conscientiousness SEC 5 GOVERNANCE 62 Corporate Governance Overview Statement 72 Additional Compliance Information 73 Statement on Risk Management & Internal Control 75 Audit Committee Report SEC 6 FINANCIAL STATEMENTS 80 Directors’ Report 85 Statement by Directors 85 Statutory Declaration 86 Independent Auditors’ Report 90 Statements of Comprehensive Income 91 Statements of Financial Position - Group 93 Statement of Financial Position - Company 94 Statements of Changes in Equity - Group 95 Statement of Changes in Equity - Company 96 Statements of Cash Flows - Group 98 Statement of Cash Flows - Company 99 Notes to the Financial Statements OTHER INFORMATION 185 Analysis of Shareholdings 187 Analysis of Warrant Holdings 189 List of Properties 195 Corporate Directory 197 Notice of Annual General Meeting • Proxy Form Fun Run, Tropicana Heights Walk & Ride Yellow Event, Tropicana Aman Paisley Serviced Residences, Tropicana Metropark Dalia Residences, Tropicana Aman GROWTH ROADMAP AT A GLANCE Creating Value, To Build 3 INTERNATIONAL SCHOOLS at 3 main townships Group Net Gearing improved from 0.55x in FY2013 to 0.27x in FY2017 Total Revenue RM4.72 BILLION over the past 3 years Total Development Properties Sales RM1.0 BILLION in FY2017 Completed Developments 49 with 15 IN PROGRESS in FY2017 Group Shareholders’ Funds rose 27% from RM2.60 billion in FY2013 to RM3.30 BILLION in FY2017 Tapping into current remaining Landbank of 889 Acres with potential GDV of RM42.1 BILLION Total Assets RM7.55 BILLION in FY2017 Net Assets Per Share RM2.25 in FY2017 Unbilled Sales RM1.52 BILLION in FY2017 TROPICANA CORPORATION BERHAD Annual Report 2017 ABOUT TROPICANA STRATEGIC PERFORMANCE LEADERSHIP SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION