KUALA LUMPUR: Tropicana Corporation Bhd's subsidiary Tropicana Firstwide Sdn Bhd is selling 27.7 hectares of freehold land in Gelang Patah, Johor Bahru to subsidiaries of Japan's NTT Data Group for RM383 million.
In a statement to the stock exchange, Tropicana said that the sale denotes its agility and capability to seize opportunities in the digital economy while complying with Malaysia's strict land requirements for data centre development.
With its strong presence and sizable landbank in Johor, it can play an effective role for data centre operators by offering strategic lands with good infrastructure facilities such as electricity, water and accessibility, the company added.
"We welcome data centre operators or multinational companies (MNCs) to partner with us.
"These initiatives are also in line with the government's ongoing efforts to streamline the country's reservoir of digital talents, construct the best digital infrastructure and position itself as the preferred investment destination."
Tropicana said it has over 728 acres of premium landbank in Johor and will continue to build sustainable townships as well as look for strategic partners to jointly develop the land.
It is confident of enhancing its market presence and contributing to future earnings, backed by high unbilled sales of RM2.3 billion and strong demand for its ongoing projects.