Tropicana Corporation Berhad Annual Report 2019

The Group’s total landbank has increased to 2,167.5 acres, with a combined total potential GDV of RM61.3 billion, from the previous 1,088.0 acres and GDV of RM46.1 billion as at 31 December 2018. In addition to this, the joint development agreement saw another 1,235.9 acres of land with a GDV of RM4.7 billion made available for the Group’s future development offerings. This in turn will allow the Group to unlock the value of its landbank, as it continues to introduce innovative developments that will contribute positively to the Group’s earnings in 2020 and beyond. Going Digital We value our customers and work to realise our commitments made to them. We also recognise the growing role of digital technology in the industry and more so among consumers. In order to keep customers updated with our product offerings, we will be taking a multi-channel, more personalised approach to connect and bring us closer to residents more effectively. Going digital is critical to our future. This is why we will be leveraging on the digital platform and introduce the first-of-its-kind app known as the Tropicana 360 app that will provide a plethora of information and property services to all our homeowners to enhance their quality of life within the Tropicana ecosystem. A key feature of this mobile app is its integrated platform that allows homeowners to purchase new home essentials and customise home renovation packages. The app will also allow potential purchasers and even residents to stay updated on our various developments, new launches, property purchases, and also gain the best furnishing deals online. For residents, they will have access to the latest information pertaining to their overall development. Plans are also underway to upgrade the current Tropicana website. The refreshed website will feature new services and user interfaces for the benefit of our customers, current and future. One of the key highlights of the newly- revamped website is it will help potential homeowners verify their home loan eligibility across 18 financial institutions via a loan eligibility calculator, thus giving potential homeowners the opportunity to realise their dream of buying a Tropicana home. Apart from this, the revamped Tropicana website will also feature a more integrated search function that allows potential Tropicana homeowners to search for properties and projects that are customised to their needs using an enhanced filter function. The new app and website are expected to be launched in the second half of 2020. Widening Customer-base At Tropicana, we are always ready to capitalise on opportunities. Despite the economic and political uncertainties, the Malaysia property sector has been receiving rising interest from foreigners, especially from China, Hong Kong and Taiwan who either wish to live or invest as industry prices are affordable with reasonable returns. In fact, the latest OPR rate cuts by BNM has lowered interest rates for loans, thus positioning Malaysia as an attractive market to purchase property. Leveraging on this, we foresee the potential to boost our customer base and extend our market share. We have also a number of young people, especially young professionals and double-income couples with no kids (DINKS), who prefer to live within mid-sized spaces at strategic locations, complete with good accessibility, facilities and well-connected to commercial amenities. As some of our developments are strategically located next to highways and transportation hubs, this particular segment will also be able to decrease their travel time. In this regard, our apartments in Tropicana Metropark, Subang Jaya and Tropicana Gardens, Tropicana Indah are among the few that have been well-received by this segment of the population. Moving forward, we will continue to introduce new developments that cater to the growing needs of consumers. Sustainability at Tropicana What We’ve Governed Financial Statements & Other Information pg 27 Tropicana Corporation Berhad Annual Report 2019