KUALA LUMPUR: Tropicana Corporation Berhad's subsidiary, Tropicana Firstwide Sdn Bhd (TFSB), has signed a sale and purchase agreement with Computility Technology (Malaysia) Sdn Bhd (CTMSB) to sell 38.53 acres of land in Gelang Patah, Johor, for RM240 million.
This marks Tropicana's second major land transaction in Johor in recent months.
In August, Tropicana finalised a RM383 million land deal with global IT service provider NTT Data Group for 68.457 acres of land in Gelang Patah.
"Today (October 9), we sealed another data centre land deal with CTMSB. With Tropicana's strong presence and sizeable landbank in Johor, we play an effective role by offering strategic lands with good infrastructure facilities such as electricity, water, and accessibility," Tropicana said in a statement.
CTMSB specialises in providing infrastructure for hosting, data processing services, and related activities.
Tropicana noted that the sale to CTMSB highlights its ability to meet the rigorous requirements for data centre land, backed by its expertise in development and proven track record in project delivery.
"We will continue to support Malaysia's vision to become a global destination for data centres. These land transactions will enhance the group's cash flow and strengthen its financial position," the company said.
The company also emphasised that Johor is rapidly evolving into a key digital infrastructure hub in Southeast Asia, attracting high-value investments in hyperscale data centres and driving growth in technology-related industries and economic opportunities for the local community.
Over the past two years, Johor has attracted more than 50 data centres, thanks to strong government policies and well-established connectivity and infrastructure.
Tropicana said it welcomes further collaborations with data centre operators.