Posted by 891088 > 2015-10-10 23:55 | Report Abuse

Plan to Q sell at 99sen

Posted by valueinvestor > 2015-10-11 12:01 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4890465
On its way to climb back to at least RM1.50 to celebrate next CNY ??
Strong unbilled sales of RM3 Bil,
Net gearing going down below 0.5x,
Reporting > RM300 mil profit again in FY2015,
Superb land-bank with GDV in excess of RM40 Bil,
NTA > RM2.20

Posted by LimFuWeng > 2015-10-20 22:03 | Report Abuse

I am a property agent and troops name sudah rosak....as property developer it is ok but as share counter they are not trusted

Posted by lanciao > 2015-10-24 13:08 | Report Abuse

Trop..counter 老千

Posted by Good_News > 2015-10-31 16:29 | Report Abuse

Debt can be necessary for growth, especially when interest rates are low. With the current environment of low interest rates, companies should be borrowing. If they aren’t borrowing, I don’t think they are maximising shareholder value.
http://www.thestar.com.my/Business/Business-News/2015/10/31/Angs-strategy-on-investing-Growing-wealth/?style=biz

Posted by nsyee28282828 > 2015-11-05 14:59 | Report Abuse

what about their Q3 results? in line with forecast?

Posted by Good_News > 2015-11-13 16:18 | Report Abuse

Q3 result probably better than Q2 because there is disposal gain. Why almost everyday share buy back news? Read last Saturday Star Tropicana degearing exercise this year will reduce RM 1.5 billion debts. Each time degearing Tropicana will make profit and reduce debts.

Posted by Good_News > 2015-11-13 16:23 | Report Abuse

Why share buy back share buy back almost every day?

Posted by Tsuto > 2015-11-13 19:30 | Report Abuse

Undervalue so share buy back

Posted by BingBong > 2015-11-13 21:35 | Report Abuse

Penang property market to be resilient on sustained demand

PETALING JAYA (Nov 13): Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state.

“There has been a slowdown in the last year. There are a few categories of investors in Penang; those who are owner occupiers, those who are investors for the cultural developments, those who are in the Malaysia My Second Home (MM2H) and Penangites who work abroad but would like to settle in Malaysia,” said Penang Institute CEO and head of economics studies Dr Lim Kim Hwa (pictured) at the National Real Estate Convention (NREC) 2015 yesterday.

“For the last two categories, the properties in Penang would be priced significantly cheaper, thus I believe the demand in the property sector in Penang would remain rather constant,” concluded Lim during his presentation entitled “Penang: The Next Metropolis”.

In terms of the wider economy, Penang is expected to register a 5% to 6% growth in its gross domestic product (GDP), outpacing the overall country’s growth by 1%, he said, noting that last year, Penang’s GDP grew by 7.4% while Malaysia’s grew by 6%.

According to Lim, Penang contributes 21.8% of the balance of Malaysia’s trade surplus, specialising in machinery, transport equipment and miscellaneous manufactured articles.

“Penang’s economy is more export-orientated, and now there is a better demand for electrical and electronic goods,” he said.

The export sector is expected to improve with the recovery of the US economy and the weaker ringgit, he added.

“It is important that Penang provides the best environment to attract more investments. Penang is the main manufacturing and economic hub for electronic and electrical items. Bayan Lepas is already full. It is important to provide more space for industrial growth.”

Some of the projects and initiatives that are expected to contribute to this growth is the IT-BPO at Bayan Lepas, BPO Prime at Bayan Baru and Changkat Byram, south of Batu Kawan.

Other projects that will benefit Penang overall include the Penang Transport Master Plan, Penang Heritage Arts District – Ilham Penang at Sia Boey, Creative Animation Triggers at Wisma Yeap Chor Ee, and Komtar refurbishment. “All of these projects involve the private sector,” added Lim.

“The Penang Transport Master Plan (PTMP) is the catalyst to [turning Penang into a] metropolis, as it involves alleviating a lot of the problems locally in Penang, especially traffic congestion,” said Lim.

Expected to be completed in 2030, the RM27 billion project would include amenities such as trams for the heritage zones, LRT for the island and mainland, and water taxis.

Lim said Penang is on track to achieving its metropolis status.

“It is an ongoing process, and there is no deadline. Penang aims to transform into an international, intelligent city filled with life. To create a great metropolis, it has to be unique, and it has to attract people to want to live and expand the growth of the city,” he said.

NREC 2015 saw more than 250 participants from the banking, development, property and consultancy industries.

NREC is organised by the Royal Institution of Surveyors Malaysia (RISM) and co-organised by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).

Themed “Homes For Generations – Redefining Development Trends”, the convention highlighted concerns for the future of the real estate industry in Malaysia.
http://www.theedgeproperty.com.my/my/content/penang-property-market-be-resilient-sustained-demand

Posted by Good_News > 2015-11-13 21:38 | Report Abuse

Penang property market to be resilient on sustained demand
http://www.theedgeproperty.com.my/my/content/penang-property-market-be-resilient-sustained-demand

Posted by sharebuyback > 2015-11-16 17:42 | Report Abuse

Aggressive today with 1.26 million shares.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4920365

Posted by bryan_su > 2015-11-17 09:39 | Report Abuse

goreng.............

Posted by hng33 > 2015-11-17 09:50 | Report Abuse

Bought trop at 95-96.5sen

Posted by hng33 > 2015-11-17 09:51 | Report Abuse

These laggard property stock is on track to break RM 1.00 ahead

Posted by hng33 > 2015-11-17 10:13 | Report Abuse

Volume spike, market up phases is in process.

Posted by hng33 > 2015-11-17 11:19 | Report Abuse

In coming quarter result, Tropicana is going to recognized:

1. Disposal tropicanca mall for RM 540m, realize net gain RM 26.5m, (EPS = 1.85sen/share)
2. Disposal Tenaga kimia for RM 194.7m, realize net gain RM 48.5m (EPS= 3.35/share)
3. Disposal Bukit bintang land for RM 448m, realize net gain RM 145m (EPS = 10sen/share)

In total, Tropicana is monetized its assets trough series of disposal, realize total EPS = 15.2sen/share), raise cash RM 1.18 billion, to pare down its borrowing from gearing 0.72 to below 0.3x, reducing at least half of trop net interest expense from current RM 31m quarterly or RM 120m annually, boosting back its deliverable earning profit instead eroded by interest expense, translating into much better quarterly earning forward

Posted by tksw > 2015-11-17 14:58 | Report Abuse

hng33 sifu, I tot all 3 disposal already recognised profits?

Posted by hng33 > 2015-11-17 16:36 | Report Abuse

Accumulate more at 95.5sen

Posted by Good_News > 2015-11-17 17:54 | Report Abuse

Banks: Eligible first time home buyers will get financing
http://www.thestar.com.my/Business/Business-News/2015/11/17/Banks-Eligible-first-time-home-buyers-will-get-financing/?style=biz

Posted by hng33 > 2015-11-17 20:19 | Report Abuse

Trop turn very aggressive in share buyback, bought 2.6m share today at 95 to 97 sen, almist 40% of today total volume

Posted by Tsuto > 2015-11-17 20:55 | Report Abuse

Privatise?

Posted by hng33 > 2015-11-17 21:29 | Report Abuse

Danny tan have consistently raise up its stake and have even opt to convert its 10 year 3% RCULS at conversion price 1.50, to boost its stake to 72% now. With tropicana degearing at tail end, pare down borrowing and reduce it gearing to below 0.3 x now, and boosting it free cash to about RM 1 billion, trop is now at much better balance sheet and financial strength. Trop may in upcoming q 3 result proposed interim divided. At least 4 sen to reward shareholder.

Trop current unbilled sale RM 3 billion already ensure next 3 year earning visibility, and the sale will just continue rolling as most of trop property are very sellable product, achieved very high take up rate...trop aman, trop metro, trop height, trop residence, Penang world city which trop have 55% stake.

With current share price still trading below RM 1.00, a price which is even lower than company own ESOS, lower than its previous right issue price 1.20, and much lower if compared to its previous private placement price at 1.70..... With much strength financially now, trop certainly afford to aggressively buyback from open market.

However, to avoid trigger take over code, trop only can buyback maximum 3% from open market to ensure public spread fulfill minimum 25%......of course, if Danny tan insist to go ahead, then he can just launch privatize or selective capital repayment to take over remaining 25% stake from public.

Posted by tksw > 2015-11-18 19:49 | Report Abuse

hng sifu, I follow you buy 955 until 950, dun bring me to holand ya...

Posted by darrenliew > 2015-11-18 20:39 | Report Abuse

TROPICANA'S 3Q RESULTS SHOULD BE GOOD BASED ON ITS DISPOSALS OF MANY NON CORE PROPERTIES, LANDS AND SOME BUSINESSES, BRINGING IN GREATER CASH INFLOWS, REDUCING ITS BORROWINGS/GEARING FURTHER AND REGISTERING CAPITAL GAINS.
TROPICANA RECENTLY WAS BLESSED BY THE CANCELLATION OF THE RM3.7 BILLIONS LAND PURCHASE IN PLENTONG, ISKANDAR JOHOR. ISKANDAR IS NOW SUFFERING FROM A PROPERTY "RECESSION" DUE TO ITS HEAVILY OVERBUILT SITUATION AGGRAVATED BY SOFTENING DEMAND. RM3.7B IS HUGE AND WOULD HAVE BOGGED DOWN TROPICANA IN DIRE STRAITS IF NOT ABORTED. NOT ONLY BE FACED WITH A HUGE PROJECT WHICH MAY SELL POORLY, IT WILL SPIKE UP ITS BORROWINGS/GEARING AGAIN.
IT'S A VERY FORTUNATE ESCAPE FOR TROPICANA.
HOUSING DEMAND IS RELATIVELY MORE RESILIENT IN THE KLANG VALLEY, SELANGOR AND PENANG WHERE TROPICANA HAS PRIME LANDBANKS AND PROJECTS.
NOW WITHOUT THE RM3.7B ISKANDAR PROJECT, TROPICANA WILL HAVE LESS GEARING AND BETTER CASH FLOWS FOR ITS PROJECTS IN THE 3 LOCATIONS ABOVE PLUS HAVE MORE CASH RESOURCES TO CONTINUE WITH ITS SHARE BUYBACKS AND PAY DIVIDENDS. WE CAN EVEN EXPECT A SPECIAL INTERIM DIVIDEND WHEN ITS 3Q RESULTS ARE ANNOUNCED.
(Disclaimer. my view above are just views and opinions and is not a solicitation to buy or sell Tropicana or other shares. its just for sharing of market information)

Posted by Investeye > 2015-11-18 20:45 | Report Abuse

Still hold as the dividend was similar to FD

Posted by tksw > 2015-11-18 21:15 | Report Abuse

TQ darrenliew sifu. TQ

Posted by Good_News > 2015-11-18 21:30 | Report Abuse

Can shareholders write to IR to request interim dividend like in 2013?

IR CONTACT
For Investor Relations related queries, please contact the following:

Name : Justin Law
Tel : +03-7710 1018 (ext 408)
Email: ir@tropicanacorp.com.my
http://www.tropicanacorp.com.my/investor-relations/ir-home

Posted by hng33 > 2015-11-19 11:22 | Report Abuse

Its just matter of time Trop to trade above RM 1.00, the time needed is however very short, likely by next week, trop will surge above RM 1.00.....support by surge in Q3 result + potential interim dividend

Posted by darrenliew > 2015-11-19 11:30 | Report Abuse

FULLY AGREE WITH hng33. BY THEN YOUR ID WILL BECOME hng88 AND MINE WILL BE darrenliew88.
ABOVE 1.00 IS ATTAINABLE WITHIN THE NEXT FEW SESSIONS. NTA PER SHARE IS RM2.14. PAR VALUE IS RM1.00. PAST RECORDS CONFIRMED IT HAD GONE UP ABOVE 2.00.

Posted by darrenliew > 2015-11-20 07:25 | Report Abuse

TROPICANA'S AUDITED NET TANGIBLE ASSET PER SHARE IS RM2.14. ITS RNAV (REVALUED NET ASSET VALUE) IS RM2.60.
MOST ANALYSTS WILL DISCOUNT THE RNAV BY 50% TO ARRIVE AT THE FAIR VALUE OF THE SHARE. FOR TROPICANA, ITS RNAV WILL THEREFORE BE RM1.30 (THERE IS A RARE DISCOUNT CARRIED OUT BY ONE ANALYST @ EXCESSIVE 72% TO ARRIVE @ RM1.10. THIS IS EXCESSIVELY OUT OF THE NORM AND IS AN UNFAIR ASSESSMENT OF TROPICANA. HOWEVER I BELIEVE THIS ANALYST DID IT BECOS OF TROPICANA'S PREVIOUS HUGE EXPOSURE TO ITS RM3.7 BILLION PURCHASE OF THE PLENTHONG LAND IN ISKANDAR JOHOR. THIS "DEAL" WAS CANCELLED MUTUALLY RECENTLY (REFER TO ANNOUNCEMENT BY THE COMPANY),
THIS RISKY PROJECT (WHICH WOULD HAVE BIG BURDEN, (FINANCIALLY DUE TO THE NEED TO BORROW N GEAR UP AGAIN) AND BECOME A DRAG ON THE PROFITABILITY OF TROPICANA (DUE TO THE PROPERTY RECESSION NOW IN ISKANDAR DUE TO GROSSLY OVERBUILT AND WEAKENING DEMAND) HAD NOW BEEN LIFTED. TROPICANA WHICH HAD WORKED SO HARD OVER THE LAST FEW 2 YEARS TO DISPOSE OF ITS NON CORE ASSETS N BUSINESSES WILL NOW REMAIN LEAN AND FUNDAMENTALLY MUCH STRONGER.

BASED ON THE ABOVE POSITIVES, TROPICANA'S CURRENT PRICE IS ON THE PATH TO RECOVERY. ITS FORTHCOMING RELEASE OF 3Q RESULTS AND THE PROSPECTS OF AN INTERIM DIVIDEND WILL BE THE NEAR TERM CATALYSTS TO BOOST ITS SHARE PRICES.

A LEADING ANALYST HAD GIVEN A VERY GOOD/DETAILED WRITE UP AND GAVE TROPICANA A FAIR PRICE TARGET OF RM1.40

ALL VIEWS AND OPINIONS FOR SHARING TO KEEP MEMBERS BETTER INFORMED ARE WELCOME.

GOOD LUCK TO ALL INVESTORS IN TROPICANA

Posted by robbin65 > 2015-11-20 10:04 | Report Abuse

@darren: That 84.5 ekra under water Plentong land not as you claimed intended to purchase at 3.7 billion lah! It was intended to purchase from IWCity at 444 million, out of which 310 million intended to finance with bank borrowing, and intended to develop into a project worth gross development value 3.7 billion. This land purchase is canceled, but i think there is still another land purchase on going, i think is Galang Patah land, could be around 500 million, will up the borrowing and gearing ratio again.

Posted by darrenliew > 2015-11-20 11:23 | Report Abuse

NEVERTHELESS, 444M PAYABLE INCLUDING 330M FINANCING IS STILL LARGE. EVEN MORE SIGNIFICANT IS THE GROSS DEVELOPMENT VALUE OF 3.7 BILLION WHICH CAN BECOME A BIG PROBLEM WHEN U CANNOT SELL THE UNITS DUE TO THE GROSSLY OVERBUILT SITUATION IN ISKANDAR.
HENCE ITS TERMINATION IS INDEED A GOOD THING

Posted by darrenliew > 2015-11-20 15:30 | Report Abuse

REGARDING THE "OTHER PURCHASE OF LAND IN GELANG PATAH, JOHORE FOR RM500 MILLIONS" MENTIONED ABOVE IS SOMETHING NEW TO ME.
HENCE I WENT THROUGH ALL TROPICANA'S ANNOUNCEMENTS VIA BURSA ALL THE WAY BACK TO 2013. THERE WERE NO MENTION OF ANY SUCH PURCHASE.

TO SCRUTINISE IT FURTHER, I STUDIED TROPICANA'S Financial Statements AS AT 30/6/2015. COMBED THROUGH "STATUS OF CORPORATE PROPOSALS"
AGAIN THERE WERE NO SUCH LAND PURCHASE IN GELANG PATAH, JOHOR. AS BEING AN OUTSTANDING CORPORATE PROPOSAL.

I THINK THERE MUST HAVE BEEN AN ERRONEOUS INFORMATION.
NEVERTHELESS, I AM GLAD THAT THERE WAS IN FACT NO SUCH LAND PURCHASE.

Posted by Good_News > 2015-11-20 15:34 | Report Abuse

Coming QR will have lots of land disposal as hng33 mentioned earlier. Best is there is interim dividend as well like in 2013.

Posted by Good_News > 2015-11-20 15:35 | Report Abuse

Tropicana very undervalued now compare to NTA above RM 2 hence we see almost daily share buy back.

Posted by darrenliew > 2015-11-20 15:38 | Report Abuse

I BELIEVE PROSPECTS FOR TROPICANA TO REPORT A STRONG SET OF RESULTS, AN INTERIM DIVIDEND (THEY HAD PAID INTERIMS IN THE PAST), AND OTHER GOOD NEWS ARE BRIGHT

Posted by darrenliew > 2015-11-20 15:50 | Report Abuse

hng33. Tropicana'sale of its Bukit Bintang land for RM448 millions for CASH will boost its cash reserves besides registerind another good capital gain. This will be on top of the RM200M from the sale of Kima

Posted by robbin65 > 2015-11-20 22:27 | Report Abuse

About the Gelang Patah land 500 million purchase, i think it was mention in one RHB analysis Report, but i could not find it again. By searching the web, i only manage to find this one, may be it refers to this one which is to purchase from Lee Plantation, although value is 366milion and not the 500 million in RHB report.
http://www.thestar.com.my/Business/Business-News/2013/09/14/Tropicana-buying-land-in-Johor-for-RM366mil/?style=biz

Posted by DreamSubjugator > 2015-11-20 22:29 | Report Abuse

How high can fly?

Posted by darrenliew > 2015-11-20 23:28 | Report Abuse

A LEADING ANALYST HAS GIVEN A FAIR VALUE TARGET PRICE OF RM1.40. (FAIR AS ITS NTA IS RM2.14 AND ITS RNAV IS RM2.60). IT IS PROFITABLE AND GIVING DIVIDENDS.
ITS LANDBANKS ARE IN PRIME LOCATIONS IN THE KLANG VALLEY/SELANGOR AND PENANG. CURRENTLY ALREADY HAVE UNBILLED SALES OF RM3 BILLIONS THUS ENSURING EARNINGS VISIBILITY IN THE NEXT 3 YEARS. ITS GEARING HAS BEEN REDUCED SIGNIFICANTLY, THUS ENHANCING ITS FUNDAMENTALS/FINANCIALS

Posted by darrenliew > 2015-11-21 07:24 | Report Abuse

robbin65. THANKS FOR THE INFO AND CLARIFICATION ON THE " GELANG PATAH LAND PURCHASE ". WE HAD NOW CONFIRMED THAT THERE WAS NO SUCH PURCHASE. THIS IS VERY IMPORTANT AS WE ARE NOW SURE TROPICANA HAS NO BIG FINANCIAL COMMITMENT TO BORROW MORE TO FINANCE IT.
EVEN THE PURCHASE OF 106 ACRES OF LAND IN PULAI (NORTH OF ISKANDAR) FOR RM366M IS NOW CONFIRMED TO BE A POSITIVE FOR THE FOLLOWING REASONS:-
1) BOUGHT IN 2013, IT WAS ALREADY IN AN AREA "RIPE FOR DEVELOPMENT" THEN AS IT WAS ALREADY SURROUNDED BY MATURED DEVELOPMENTS AND WELL SERVED BY GOOD INFRASTRUCTURE.
2) THE LAND PURCHASED WAS EARMARKED FOR "ECO-THEMED RETAIL AND COMMERCIAL DEVELOPMENT" WHICH ARE NECESSARY FOR PULAI'S GROWING URBANISATION. IT'S NON-RESIDENTIAL AND HENCE HAS NO GLUT OR OVERSUPPLIED PROBLEMS WHICH ARE NOW AFFECTING ISKANDAR'S RESIDENTIAL MARKET
3) THE LAND WAS PURCHASED IN 2013 AND IT WOULD HAVE BEEN FINANCED WAY BACK IN 2013 AND IS ALREADY PART OF TROPICANA'S EXISTING BORROWINGS. THERE WILL BE NO ADDITIONAL COMMITMENT TO BORROW MORE FOR IT. HENCE, TROPICANA'S CURRENT DOWNSIZING IN BORROWINGS OR DEGEARING WILL CONTINUE SMOOTHLY.
4) THE PULAI LAND, BEING COMMERCIAL, IS NOW WORTH A LOT MORE.
(for more details of the purchase of the Pulai land, plse refer to the 2013 article from The Star newspaper attached above by robbin65)

Posted by darrenliew > 2015-11-21 09:42 | Report Abuse

Target Price RM1.40 (given by bonescythe.blogspot.my on April 10 2015 "The Tropical Storm"
(based on her well researched analysis)

I BELIEVE HER PRICE TARGET IS A VERY FAIR AND REALISTICALLY ACHIEVABLE P
MARKET PRICE VALUATION BASED ON THE STRONG FUNDAMENTALS AND ENTERPRISE VALUE DETAILED THEREIN. THE PRICE TARGET CAN EVEN BE HIGHER NOW SINCE TROPICANA HAD SUCCESSFULLY AND COMPETENTLY DOWNSIZED ITS BORROWINGS AND GEARING RATIOS SIGNIFICANTLY VIA DISPOSALS OF LARGE VALUE NON CORE ASSETS AND BUSINESSES DURING THE PAST ONE YEAR. LESS GEARING = LESS FINANCE COSTS = MORE PROFITS = MORE CASH RESERVES TO PAY DIVIDENDS (WHICH CAN AGAIN BE A MIX OF CASH CUM TREASURY SHARE DISTRIBUTION).
NEAR TERM POSITIVE CATALYSTS FOR SHARE PRICE UPSWINGS INCLUDE :-
1) A GOOD SET OF 3Q RESULTS TO BE OUT BY THIS MONTH END. GOOD PROFITS ARE EXPECTED BASED ON THE SUCCESSFUL DEGEARING EXERCISE COMPLETED OVER THE LAST 3 MONTHS
2) GOOD EARNINGS VISIBILITY BASED ON ITS RM3 BILLIONS UNBILLED SALES (UNBILLED
= SALES COMPLETED WITH PROGRESSIVE PAYMENTS RECEIVABLE FROM
PURCHASERS BASED ON LEGAL DOCUMENTATION AND PROGRESS CONSTRUCTION WORK DONE AS CERTIFIED BY ARCHITECTS.
3) OTHER VALID FINANCIAL DATA INCLUDE NTA 2.14, RNAV RM2.60, HISTORICAL MARKET PRICES ABOVE RM2.00. TROPICANA HAD IN THE PAST PAID INTERIM DIVIDENDS

GOOD LUCK TO ALL INVESTORS IN TROPICANA

Posted by cjm99 > 2015-11-21 12:22 | Report Abuse

Second PP is the only key catalyst

Posted by cjm99 > 2015-11-21 14:53 | Report Abuse

what reason make the major shareholders pushing up the share prices. now they are holding 70% and more.

Posted by robbin65 > 2015-11-21 21:09 | Report Abuse

I doubt the Pulai land so positive description in the Star article and Darens. Also i doubt the purchase is already completed and paid by Tropicana. Pulai is JB outskirt area, not centre of development as per Iskandar. The town ship may take 10 or 20 years to develop, Keck Seng also have a development there, KSeng land much more bigger than Tropicana Pulai land. That area close to Kangkar Pulai, have a lot of land but less population, so they said got POTENTIAL of development, no same as immediate development as Iskandar lah! For me thinking, that under water Plentong land is much more better deal than Pulai, unfortunately fail to acquire the Plentong land.

Posted by darrenliew > 2015-11-21 22:09 | Report Abuse

I AM MUCH MORE POSITIVE ABOUT TROPICANA'S PULAI LAND. I HAD WORKED IN JB, KLUANG AND KULAI DISTRICTS BEFORE. HENCE I DO HAVE 1ST HAND PERSPECTIVES OF JOHORE, INCLUDING DEVELOPMENTS IN PULAI. I AM INCLINED TO SHARE THE MORE OPTIMISTIC VIEWS OF DEVELOPMENTS SUROUNDING TROPICANA'S PULAI LAND. (I.E AGREE TO THE POSITIVE DEVELOPMENT POTENTIAL COMMENTS EXPRESSED IN THE STAR BIZ NEWS IN 2013 ARTICLE BECOS SOME OF THE LEADING DEVELOPERS ALREADY HAVE PROJECTS THERE IN 2013).

THE MOST IMPORTANT ISSUE TO CONSIDER IS TROPICANA'S DEGEARING EXERCISE.
ITS PREVIOUS HIGH GEARING HAD BEEN A CONCERN AMONG ANALYSTS. ALTHOUGH THE HIGH BORROWINGS IN THE PAST WERE JUSTIFIED BECOS THEY WERE INCURRED DURING ITS AGGRESSIVE ACQUISITION OF LANDS TO EXPAND ITS LANDBANKS, ITS LARGE BORROWINGS WERE STILL A NEGATIVE. HENCE WE WERE VERY RELIEVED WHEN ITS BOARD OF DIRECTORS EMBARKED ON ITS DEGEARING EXERCISE SEVERAL YEAR BACK. WE ARE GLAD TO NOTE THAT IT HAD SUCCEEDED..
AND, WE DO NOT WISH THIS DOWNSIZING OF ITS BORROWINGS TO BE DISCONTINUED.

WE WERE INDEED RELIEVED THAT THE LAND PURCHASE IN ISKANDAR WAS NOT TRUE.
WE ARE ALSO CONVINCED THAT THE RM336M FOR ITS PULAI LAND HAD ALREADY BEEN COMPLETELY PAID FOR BECOS:
1) THE PURCHASE WAS DONE IN 2013 AND I AM SURE THE VENDORS WOULD ENSURE THEY HAD RECEIVED FULL PAYMENT 2 YEARS AGO.AND WHATEVER FINANCING NEEDED THEN HAD ALREADY BEEN ACCOUNTED FOR AND INCLUDED IN ITS EXISTING BORROWINGS.
2) I AM CERTAIN OF (1) ABOVE BECOS TROPICANA'S FINANCIAL STATEMENTS AS AT 30/6/2015 UNDER ITS "STATUS OF CORPORATE PROPOSALS WHICH REMAIN OUTSTANDING AND PENDING COMPLETION HAD NO MENTION OF ITS PULAI LAND PURCHASE.

Posted by darrenliew > 2015-11-21 22:21 | Report Abuse

THE TERMINATION OF THE PLENTONG LAND WILL INDEED BE A GREAT ESCAPE AND A VERY POSITIVE TURN OF EVENTS FOR TROPICANA.
WITH THE KNOWLEGE OF THE HOUSING DATA RELEASED BY THE STATE AUTHORITIES AND THE ANALYSTS CONFIRMING THE HUGE OVERBUILT AND OVERSUPPLY SITUATION IN ISKANDAR (ESPECIALLY DUE TO THE MEGA PROJECTS BY CHINA PROPERTY DEVELOPERS) IT WILL DEFINITELY BE A STRATEGIC ADVANTAGE FOR TROPICANA TO HAVE AVOIDED ISKANDAR NOW/



,

Posted by darrenliew > 2015-11-21 23:27 | Report Abuse

EXTRACTS FROM STARBIZ IN 2013 TO SUPPORT VIEWS THAT:
1) TROP;S PULAI LAND "IS RIPE FOR DEVELOMENT"
2) TROPICANA WOULD HAVE FULLY SETTLED ITS RM336M TO THE VENDORS OF THE PULAI LAND IN THE 3Q OF 2014 :

The land is located in an area “ripe for mixed development”, being in Flagship B of Nusajaya north of Iskandar Malaysia, and ringed by established residential developments such as SP Setia Eco Gardens, Bukit Indah, Horizon Hill, Leisure Farm and Ledang Heights.

Other amenities and attractions in the vicinity include Legoland, Sanrio Hello Kitty Town, Pinewood Studios, Puteri Harbour, Kota Iskandar, Educity, Afiat Health Park and Southern Industrial and Logistics Cluster. The land is accessible via multiple access roads such the Second Link Highway, Pontian Highway, Pasir Gudang Highway and Coastal Highway



Funding is to be raised from bank debt and internal funds, the exact mix of which would be decided later. Its gearing levels are not expected to change until the third quarter of next year, pending the completion of the sale.

Tropicana has paid an earnest deposit of 1% of the purchase price to the seller, or RM3.67mil, and would settle the 10% deposit upon the execution of the sale and purchase agreement.

The balance RM329.9mil would be paid three months after all the conditions for the deal are fulfilled

Posted by DreamSubjugator > 2015-11-21 23:38 | Report Abuse

What TP