42. SIGNIFICANT EVENTS (CONT’D.) The following is a summary of material disposals of properties by the Group's subsidiaries during the financial year ended 31 December 2025, including disposals carried forward from previous financial years and disposals entered into during the financial year, in addition to the material disposals of properties disclosed in Note 27: (cont’d.) (o) On 30 September 2025, TMSB entered into a sale and purchase agreement with Perspektif Vista Sdn Bhd, for the disposal of a parcel of freehold land measuring approximately 13,403 square metres in Selangor for a total consideration of RM44,341,000. The said disposal had been completed during the financial year ended 31 December 2025 upon fulfillment of conditions precedent. (p) On 29 December 2025, Tropicana Scenic Development Sdn Bhd entered into a sale and purchase agreement with Tanjung Mali Resort Development Sdn Bhd, for the acquisition of a parcel of leasehold land measuring approximately 12,622 square metres in Langkawi, Kedah for a total consideration of RM44,820,000. The said acquisition will be completed during the financial year ending 31 December 2026. (q) On 29 December 2025, Tropicana Scenic Development Sdn Bhd entered into a sale and purchase agreement with Maya Elemen Sdn Bhd, for the acquisition of 14 parcels of land measuring approximately 85,091 square metres in Langkawi, Kedah for a total consideration of RM151,060,000. The said acquisition will be completed during the financial year ending 31 December 2026. 43. SUBSEQUENT EVENTS (a) Geopolitical developments involving the United States, Israel, and Iran that commenced in late February 2026 have led to heightened volatility in global trade and energy markets. These developments have resulted in increased construction material costs, delays in the supply of building materials, and other cost pressures that could potentially affect the Group's property development activities and margins. As at the reporting date, the financial impact on the Group cannot be reasonably estimated. Management continues to closely monitor the situation, including active negotiations with contractors and service providers, and implementation of cost saving measures to address the current challenges. As the geopolitical developments occurred after the reporting date, their effects will be reflected in the financial year ending 31 December 2026. (b) On 25 March 2026, the Company had redeemed the balance of Tranche 1 of RM89,430,000 in nominal value of Sukuk Musharakah pursuant to a Perpetual bond of up to RM2 billion in nominal value. (c) On 31 March 2026, the Company issued Sukuk Wakalah of RM200,000,000 in nominal value out of its RM1.5 billion Sukuk Wakalah Programme 2, which has been assigned a credit rating AIS with a stable outlook by Malaysian Rating Corporation Berhad. (d) On 15 April 2026, the Company fully redeemed the outstanding Tranche 5 Series 1 under Sukuk Wakalah Programme 1 amounting to RM133,200,000. 377
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