Tropicana Corporation Berhad Annual Report 2020

TROPICANA CORPORATION BERHAD ANNUAL REPORT 2020 STRATEGIC REPORT WITH THE CHAIRMAN Q&A The year 2020 brought many unprecedented challenges to the economies of the world, with a global health concern that caused many industries and livelihoods to be affected. In this segment, Tropicana’s Chairman Tan Sri Dr Lim Wee Chai shared how the Group overcame these challenges and built a more resilient brand in the face of adversity to move the Group forward. Q1: How has the pandemic impacted the property market and what were the key measures undertaken by Tropicana to ensure business continuity and economic resilience? A: COVID-19 has changed the way we live, learn, workandplayandhas alsohighlighted the need for all of us to pull together to fight this pandemic in our aim to reinstate our nation’s economic trajectory. To ensure business continuity and resilience, our management team was quick to respond to the changing market conditions and rolled out a series of customer-centric new developments at strategic locations. We introduced a digital sales campaign to continue customer engagements, to stay agile and afloat. Our strategy was a success, and we recorded healthy bookings and revenue from that campaign. Despite the volatile and challenging global economy, the International Monetary Fund (“IMF”) is projecting Malaysia’s economy to rebound by 7% in 2021, supported by both domestic and external demand. However, recovery will be uneven across sectors. We remain optimistic and believe that there is still pent-up demand for well-planned properties in strategic locations. Q2: What is the importance of having a strong brand that evolves with the times? A: Since our establishment in 1979, Tropicana has stood the test of time. From pioneering the flagship Tropicana Golf & Country Resort in Petaling Jaya to changing the landscapes in Tropicana Indah, Kota Damansara, Subang, Kota Kemuning, Kajang, Cheras, Penang, Kedah, Pahang, Johor and Sabah, Tropicana has certainly lived up to its brand and mantra of redefining the art of living. Today, Tropicana has become a household name with strong brand equity that continues to grow because we evolve and transform with the times, gaining new audiences over the years. We are humbled and thankful for Tropicana’s success and achievements. With the support of our founder, Tan Sri Dato’ Tan Chee Sing, Board of Directors and management team, I am certain Tropicana will continue to march onward and upward. Q3: How has the pandemic transformed the industry, with the shift to digital marketplaces? A: We have entered into the age of the fourth industrial revolution (“IR 4.0”). A new wave of digital transformation is occurring, with the pandemic acting as a catalyst for organisations across sectors to fast-track the adoption of digital and cloud-based technologies to survive and thrive in the new normal. At Tropicana, we are embarking on cost efficiency measures, digital realignments, and careful rationalisations of our launches. Our digital transformation drive includes the launch and updates of our Tropicana 360 app, the planned unveiling of our new website and the adoption of a multi- pronged digital campaign to capitalise on new opportunities, both locally and internationally. 031 030 TAN SRI DR LIM WEE CHAI Chairman