Tropicana Inked Another Data Centre Land Deal Worth RM240 Million In Johor   – kopiandproperty.com

Tropicana Inked Another Data Centre Land Deal Worth RM240 Million In Johor

• Tropicana inked another data centre land deal in Johor Bahru soon after its recent RM383  million land deal with NTT Data Group on 26 August 2024. 

• Tropicana Firstwide sold 38.527 acres of land worth RM240 million to Computility Technology  (Malaysia) Sdn Bhd, a wholly-owned company of ZData Cloud Technology Pte Ltd.

• Tropicana continues to attract interest for its premium landbank in Johor reflecting its  capability to meet stringent data centre land requirements as demanded by global players like  NTT and ZData. 

In its filing to Bursa Malaysia today, Tropicana Firstwide Sdn  Bhd (“TFSB”), a wholly-owned subsidiary of Tropicana Corporation Berhad (“Tropicana” or  “Group”), announced the sale and purchase agreement with Computility Technology  (Malaysia) Sdn Bhd (“CTMSB” or the “Purchaser”) for the sale of 38.527 acres of freehold land for a cash consideration of RM240 million in Gelang Patah, Johor. The Purchaser is principally  involved in the provision of infrastructure for hosting, data processing services and related  activities. CTMSB is wholly-owned by ZData Cloud Technology Pte Ltd, which in turn is an indirect wholly-owned subsidiary of ZData Technologies Co Ltd, a leading provider of cloud network convergence and digitised IT infrastructure services company, with its headquarters in Beijing. CTMSB plans to use the land to establish its regional data centre hub in Johor. 

Tropicana Management cited, “Johor is rapidly emerging as a pivotal digital infrastructure hub  in Southeast Asia, with high-value investments in hyperscale data centres fuelling the growth  of technology-related industries and economic opportunities for the local community. In the  last two years, Johor has attracted more than 50 data centres owing to the State’s strong push  towards the digital economy, enabled by robust government policies, as well as good  connectivity and infrastructure. In August, we signed a RM383 million land deal with global IT  service provider – NTT Data Group for an expansive 68.457 acres of land in Gelang Patah,  Johor. Today 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. The land sale also  reflects our capability to meet stringent data centre land requirements backed by our  development expertise 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.” 

Tropicana welcomes more data centre operators to partner with us. We have 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 parcels. We will continue to strengthen our  market presence and improve our earnings which are supported by our high unbilled sales of  RM2.3 billion and strong take-up rates for ongoing projects,” the management added. 

Tropicana inked RM240 million land deal with CTMSB, wholly-owned by ZData Cloud  Technology. The signing ceremony was also witnessed by Yang Berhormat Tuan Lee Ting Han (centre) Pengerusi Jawatankuasa Pelaburan, Perdagangan, Hal Ehwal Pengguna dan Sumber  Manusia Negeri Johor. Signing on behalf of Tropicana is Mr Ong Chou Wen (far left), CEO of  Tropicana and Ms Karen Lee (second from left), Managing Director, Southern Region of  Tropicana. Representing ZData is Alex Dong (fourth from left), Co-Founder & COO of ZData  Technologies Co Ltd and witnessed by Yap Han Xin (far right), the legal representative of  ZData

JOHOR PULL FACTORS 

Johor’s economy is experiencing rapid growth and is tipped to be Malaysia’s next economic powerhouse. Here are 8 pull factors of Johor: 

1. Most Visited City 

Johor Bahru also referred to as JB, is a city situated at the southern end of the Peninsula  of Malaysia. It is the second largest city in Malaysia and is also one of the fastest-growing  cities in the country after Kuala Lumpur. Johor welcomed over 16 million tourists in 2023  and aims to achieve an influx of 20 million tourists in 2024. 

2. Johor Causeway, one of the Busiest Land Border Crossings 

Recently, the Johor Causeway celebrated its 100th anniversary, marking a strong and enduring neighbourly spirit between Malaysia and Singapore. The first link was officially launched in 1924 followed by the Second Link bridge built in 1998 to reduce the traffic congestion at the first Johor–Singapore Causeway. These two causeways serve and connect approximately 450,000 travellers at the checkpoints daily. 

3. Johor-Singapore Special Economic Zone (JS-SEZ) 

The formation of the JS-SEZ is to foster stronger business connections and improve connectivity between Malaysia and Singapore. JS-SEZ aims to attract more investments  by enhancing the business ecosystem and holistic transformation through economic  synergy, improved connectivity through RTS link and public transportation, government  policies & incentives as well as addressing talent mobility & availability. JS-SEZ will be 

located in Johor’s Iskandar region and could cover an area of over 3,000 sq km,  approximately four times the size of Singapore. The JS-SEZ rides on the strong growth of  Johor and significant investments by Singapore, with Johor notably recording RM43 billion  worth of investments in 2023 alone. Of that, RM21.5 billion in foreign direct investment  into the Johor state came from Singapore, China and South Korea. 

4. New Industrial Master Plan (NIMP) 2030 

The Ministry of Investment, Trade & Security rolled out NIMP 2030, marking a significant milestone in Malaysia’s journey towards the MADANI Economy. NIMP 2030 aims to  bolster the nation’s industries toward technological advancement, sustainability, and  deeper integration into the global value chain. 

5. Johor Bahru-Singapore Rapid Transit System (RTS) 

Due for completion in 2026, the RTS Link is a 4 km light rail transit shuttle service  connecting Bukit Chagar station in Johor Bahru and the Woodlands North station in Singapore. It is expected to serve up to 10,000 passengers per hour per direction during  peak periods and will relieve congestion at the Johor Causeway. 

6. QR Code: Border crossing made simple 

The QR code system for Malaysian and Singaporean travellers aimed to expedite  immigration clearance at the Malaysia-Singapore border crossing. The QR code  application can reduce the immigration clearance time by up to 75% and clear an average  of about 20 passengers in less than five minutes. 

7. Entertainment & Shopping Centre 

Because of its strategic location, the Johor state has attracted many entertainment centres and theme park operators over the years. Popular theme parks that have set up  permanent or temporary residences in Johor include Legoland, Pororo Park, Game On, Dinosaurs Alive Water theme park, Desaru Coast Water Park and Austin Heights Water & Adventure Park. Popular shopping destinations are Johor Premium Outlets, Paradigm Mall, IKEA, Sutera Mall, Sunway Big Box Village, Mid Valley Southkey and KSL City Mall. 

8. Cultural Institutions 

A melting pot of cultural enrichment, top sights include the Royal Abu Bakar Museum, Johor Bahru Chinese Heritage Museum, Yayasan Warisan Johor, Johor Bahru Kwong Siew Heritage, Malay Cultural Village, and the Johor Art Gallery. 

While Tropicana is already working with strategic partners in some of the developments, the Group welcomes more like-minded partners to contribute to the significant growth in Johor. To discover the world of Tropicana, visit http://www.tropicanacorp.com.my or reach out to our business development team at [email protected] for more collaboration opportunities. 

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