News & Articles No significant progress on the MoU with PowerChina to develop a project in Genting Highlands, says Tropicana
No significant progress on the MoU with PowerChina to develop a project in Genting Highlands, says Tropicana
14 Nov 2022
Tropicana Corp Bhd said that there has been no material development concerning the Memorandum of Agreement (MoA) that it and PowerChina International Group Ltd signed on February 11 to build Tropicana Paradise, a 308-acre integrated entertainment hub in Pahang.
This is the third announcement about the MoU filed with Bursa Malaysia. The first was on May 10, and the second was on August 10. In both announcements, Tropicana also stated that there had been no substantive progress on the MoU.
The MoA was signed by Tropicana's wholly-owned subsidiaries Tropicana Inspirasi Indah Sdn Bhd and Tropicana Inspirasi Impian Sdn Bhd and PowerChina's wholly-owned subsidiary Sinohydro Corp (M) Sdn Bhd, according to Tropicana's filing to Bursa Malaysia on February 11.
According to Tropicana, Tropicana Paradise is part of the 596-acre Tropicana WindCity massive master-planned development in Genting Highlands.
Among other things, the development will include 1.5 million square feet of retail space, serviced apartments, branded residences, and 4- and 5-star international hotels.
Additionally, it will have the environmentally friendly infrastructure and transit options, including a thorough cable car system, an electric tram system, elevated pedestrian walkways that are accessible to the disabled, and bicycle and wheel tracks.
Tropicana said yesterday that Bursa will be informed of any significant developments pertaining to the MoU.
This is the third announcement about the MoU filed with Bursa Malaysia. The first was on May 10, and the second was on August 10. In both announcements, Tropicana also stated that there had been no substantive progress on the MoU.
The MoA was signed by Tropicana's wholly-owned subsidiaries Tropicana Inspirasi Indah Sdn Bhd and Tropicana Inspirasi Impian Sdn Bhd and PowerChina's wholly-owned subsidiary Sinohydro Corp (M) Sdn Bhd, according to Tropicana's filing to Bursa Malaysia on February 11.
According to Tropicana, Tropicana Paradise is part of the 596-acre Tropicana WindCity massive master-planned development in Genting Highlands.
Among other things, the development will include 1.5 million square feet of retail space, serviced apartments, branded residences, and 4- and 5-star international hotels.
Additionally, it will have the environmentally friendly infrastructure and transit options, including a thorough cable car system, an electric tram system, elevated pedestrian walkways that are accessible to the disabled, and bicycle and wheel tracks.
Tropicana said yesterday that Bursa will be informed of any significant developments pertaining to the MoU.
Source: NST.com.my
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