NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024 43. SIGNIFICANT EVENTS (CONT’D.) The following is a summary of material disposals of properties by the Group’s subsidiaries during the financial year ended 31 December 2024, in addition to the material disposals of properties disclosed in Note 27: (cont’d.) (j) On 23 July 2024, Tropicana Indah Sdn Bhd, an indirect 70% owned subsidiary of the Group, entered into a sale and purchase agreement with IOI Mall Damansara Sdn Bhd, for the disposal of Tropicana Gardens Mall (“Mall”), a shopping centre which situated on a strata titled leasehold land with a gross floor area measuring approximately 274,120 square metres and a net lettable floor area measuring approximately 97,651 square metres, including all fixtures, fittings, equipment, machinery, systems and all other appurtenant thereto affixed to or installed in or within the Mall for total consideration of RM680,000,000. The said disposal has been completed in the financial year ended 31 December 2024 upon fulfillment of conditions precedent. (k) On 31 July 2024, Tropicana Seri Fauna Sdn Bhd, a wholly-owned subsidiary of the Group, entered into a sale and purchase agreement with Bebas Alamjaya Sdn Bhd, for the disposal of a parcel of freehold land measuring approximately 21,320 square metres in Batang Kali, Selangor for a total consideration of RM34,423,000. The said disposal will be completed in financial year ending 31 December 2025. (l) On 14 August 2024, Tropicana Danga Bay Sdn Bhd, a wholly-owned subsidiary of the Group, entered into a development rights agreement with PGB Desa Heights Sdn Bhd, for the disposal of 2 parcels of freehold land measuring approximately 28,842 square metres in Johor Bahru for a total consideration of RM102,458,000. The said disposal will be completed in financial year ending 31 December 2025. (m) On 26 August 2024, TFSB entered into a sale and purchase agreement with seven indirect subsidiaries of NTT Data Group, for the disposal of a parcel of freehold land measuring approximately 277,036 square metres in Gelang Patah, Johor for a total consideration of RM383,132,000. The said disposal will be completed in financial year ending 31 December 2026. (n) On 4 September 2024, Tropicana Aman Sdn Bhd, a wholly-owned subsidiary of the Group, entered into a sale and purchase agreement with Eco World Development Management Sdn Bhd, for the disposal of a parcel of leasehold commercial land measuring approximately 36,017 square metres in Kota Kemuning, Selangor for a total consideration of RM42,645,000. Accordingly, the provision of foreseeable losses for the disposal of RM37,109,000 was recognised in the profit or loss. The said disposal will be completed in financial year ending 31 December 2025. (o) On 9 October 2024, TFSB entered into a sale and purchase agreement with Computility Technology (Malaysia) Sdn Bhd, for the disposal of a parcel of freehold land measuring approximately 155,913 square metres in Gelang Patah, Johor for a total consideration of RM239,988,000. The said disposal will be completed in financial year ending 31 December 2025. 44. SUBSEQUENT EVENTS On 4 April 2025, TMSB, entered into a sale and purchase agreement with Grand Golden Development Sdn Bhd, for the disposal of a parcel of freehold land measuring approximately 17,503 square metres in Selangor for a total consideration of RM64,000,000. Accordingly, the provision of foreseeable losses for the disposal of RM26,358,000 was recognised in the profit or loss. The said disposal will be completed in financial year ending 31 December 2025. ANNUAL REPORT 2024 350
RkJQdWJsaXNoZXIy NDgzMzc=