Tropicana Corporation Berhad Annual Report 2020

10 PROPERTIES, 10 NOT-TO-BE-MISSED DEALS! 10 REASONS FOR YES The pandemic created both opportunities and hardship for the people, companies, and government. The property sector is expected to revive in tandem with the nation’s economic recovery. At Tropicana, we are cautiously optimistic about the growth of our Group. Our unbilled sales of RM1.09 billion as of 31 December 2020 provide earnings visibility and sustainability beyond 2020. We are closely monitoring our key performances and continue to progress by maintaining stringent cost-efficiency measures, digital realignments, and careful rationalisation of our launches. While short-term growth prospects would remain subdued, we believe that there is still pent-up demand for well-planned properties in strategic locations. As an experienced master- planner of integrated developments and townships, we always add a degree of flexibility into our designs as this allows us to adapt and respond to changing customer demands. Backed by our unique residential, commercial and resort-themed developments in the Central and Southern region as well as our latest “Tropicana Journey Collection” at Genting Highlands and Langkawi, we are determined to leverage on our brand name and DNA to ensure our businesses could weather the cyclical nature of the property. These two tourist hotspots are Tropicana’s first foray into the hillside and premium beachside development which Tropicana serves as the main Marketing and Sales arm for the seafront residences. To gain market traction, Tropicana 10-TEN campaign was launched in June 2020, with ten signature deals to help lessen buyers’ financial burdens and worries on economic uncertainties as well as further spur their confidence in securing their dream homes. Through the “Tropicana 10-TEN” campaign, buyers were given an array of benefits including low booking fee of only RM1,000, flexi-buy, zero down payment, mortgage relief, 10:90 scheme, easy payment scheme, free MOT, moratorium, and double referral rewards. Tropicana 10-TEN was a huge success and recorded an impressive RM899 million in bookings, which was no mean feat during such a challenging year. To continue the momentum, 2021 will see the launch of Tropicana 100, which allows one to experience 100% art of living – redefining how we live, learn, work and play without breaking the customer’s bank account. The Tropicana 100 campaign offers buyers 100% returns on booking fees, 100% interest-free flexibility, 100% legal fees borne, 100% furnishing, 100% financing as well as 100% additional referral rewards for successfully introducing friends and family to purchase a property. We are also embarking on a strategy to clear the balance completed developments through our Tropicana FreeDOM campaign as well as the “HouzKEY” campaign, in partnership with Maybank Islamic. We want to capitalise on the market needs and trends, offering quality homes complemented with attractive pricing, innovative ownership packages, and facilities, especially for first-time homebuyers. We were determined to explore all options to ensure that we remained agile in response to the market and resilient towards economic uncertainties. Market Traction & Future Growth Despite it being a challenging year, there were some positive notes that we can draw from. In the wake of the pandemic, our team has forged a stronger network with our property owners, purchasers, and members. We have embraced technology and make more coordinated efforts to improve all our digital platforms in our aim to accelerate growth. Throughout 2020, our internal IT team together with our Marketing and Sales team have worked tirelessly to create Tropicana 360 App, hailed as the most comprehensive developer app in Malaysia. The Tropicana 360 app can be used not only by our property owners but by our club/golf members, too! This incredibly comprehensive app boasts over 16 key features that provide maximum convenience and a one-stop platform for Tropicana homeowners – from pre-sale assistance to completion, vacant possession, billings to bookings. This app truly epitomises ‘All Things Tropicana’, providing the ultimate Tropicana experience to our homeowners and users. We will also revamp our Tropicana corporate website, padding up more info from the past, present, and future developments of the Group. TROPICANA CORPORATION BERHAD MANAGEMENT DISCUSSION & ANALYSIS 050