Tropicana Seeks Possession of St Joseph’s Institution with Rent Arrears Over RM10m | Malaysia
KUALA LUMPUR, October 8 – Tropicana Education Management Sdn Bhd, a subsidiary of Tropicana Corp Bhd, being the lessor of the premises operated under the name of St Joseph’s Institution International School Malaysia, requests possession of the school with nine months of arrears of rent amounting to over RM 10 million.
In a statement released today, Tropicana said it has given a lot of leniency on lease payments as part of its efforts to support the school’s operator, Lasallian Asia Partnership for International Schools Pte Ltd (LAPIS).
“After years of continuous monitoring, as well as countless advisories and recalls, substantial rental amounts continue to be past due without any indication from the operator on payment plans.
“Currently 9 months rent is overdue for an amount of over RM 10 million,” he said.
Tropicana Group General Manager Lee Han Ming said the group’s vision is to build a strong and sustainable learning center and hopes the two sides can settle this amicably.
“It’s our long-standing commitment to building a quality neighborhood where our community can live, learn, work, play and thrive. Unfortunately, even after countless attempts and repeated callbacks, we are disappointed with the way LAPIS handled this matter.
“As a company, we take things seriously and we owe it to our shareholders to earn rental investment income. Our team as well as our lawyers tried to contact them for many months to resolve this issue, but to no avail. It is disheartening to have to repossess the premises, ”he said. – Bernama