Tropicana Corp sets up new unit in China

TheEdge Thu, Aug 02, 2018 12:57am - 5 years View Original


KUALA LUMPUR (Aug 1): Tropicana Corporation Bhd has established a wholly-owned subsidiary, Tropicana Business Consulting (Shenzhen) Pte Ltd (TBCS), in Shenzhen, China.

In a filing with Bursa Malaysia today, the property developer said TBCS was registered in Shenzhen on July 17, 2018 as a private limited liability company with a registered capital of RMB36 million, to be injected over an investment period of ten years.

“TBCS will provide business consulting, conference and exhibition, business information and enterprise management consulting services in China,” it said, adding that the new set up would facilitate the group’s expansion plan and/or operations and promote its related properties in China.

The company said TBCS would have no effect on the share capital or the substantial shareholders’ shareholdings of Tropicana Corporation and was not expected to have any material effect on the group’s net assets, gearing and earnings for the current financial year ending Dec 31, 2018.

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