PETALING JAYA: Tropicana Corp Bhd’s subsidiary Tropicana Education Management Sdn Bhd is seeking to possess the St Joseph’s Institution International School Malaysia’s Tropicana PJ campus premise due to nine months of rental arrears amounting to over RM10 million.
It stated that the group has issued numerous notice, reminders and follow-ups but rental continues to be in arrears with no indication on any payment plans from the school’s operator, Lasallian Asia Partnership for International Schools Pte Ltd (Lapis).
Tropicana’s group CEO, Lee Han Ming, hoped both parties could settle the matter amicably.
“It is our long-standing commitment to building a quality neighbourhood where our community can live, learn, work, play and prosper,” he said in a statement today.
“Unfortunately, even after countless attempts and repeated reminders, we are disappointed with how Lapis had handled this matter.”
Lee outlined that the group takes this matter seriously as it owes a duty to shareholders to collect rental investment income.
He related that Tropicana and its legal representatives have tried reaching out to them for many months to resolve the issue.
“It is disheartening that we have to repossess the premises,” said the CEO.