KUALA LUMPUR, Oct 8 — Tropicana Education Management Sdn Bhd, a subsidiary of Tropicana Corp Bhd, being the lessor of premises which is operated as the St Joseph’s Institution International School Malaysia, seeks possession of the school with nine months rental arrears amounting to more than RM10 million.
In a statement today, Tropicana said it has granted much indulgence on rental payments as its efforts to support the school operator, Lasallian Asia Partnership for International Schools Pte Ltd (LAPIS).
“After years of continuous follow-ups, as well as countless notices and reminders, substantial amounts of rental continue to be in arrears with no indication from the operator on any payment plans.
“Currently, 9 months of rental are in arrears amounting to more than RM10 million,” it said.
Tropicana Group chief executive officer Lee Han Ming said the group’s vision is to build a strong and sustainable learning centre and hope that both parties could settle this amicably.
“It is our long-standing commitment to building a quality neighbourhood where our community can live, learn, work, play and prosper. Unfortunately, even after countless attempts and repeated reminders, we are disappointed with how LAPIS had handled this matter.
“As a corporation, we take things seriously and we owe duties to our shareholders to collect rental investment income. Our team as well as our lawyers have tried reaching out to them for many months to resolve this but to no avail. It is disheartening that we have to repossess the premises,” he said. — Bernama