Posted by jolie2 > 2015-04-12 11:57 | Report Abuse

i don;t think danny want to do a right issue (if any) at price 1.25
At least the share price must move to 1.78 as what epf bought 18 mil shares few years back ago. If not , epf would not subscribe the share and sell it off and press the price down below 1.00 ( below the par value of 1.00) and the right issue won't be successful.
Danny have to show respect to epf as he sell a big block to epf.

Danny won;t be so stupid to right issue as such low price if he still want the finance institute to support his share.

Posted by RobbinBuffet > 2015-04-12 11:59 | Report Abuse

Jayawin right. I am still in last year calender. No intenytion to mislead. Please don't sue me.

Posted by jayawin > 2015-04-12 12:29 | Report Abuse

This company have 2.4 billiion debt. Somemore they need money as working capital for new project. Example like ioipg and mahsing also issue right share. Epf is substantial shareholder for ioipg. They still subscribe to right share at 1.90 even their cost is high. So I believe trop will do the same thing.

Posted by jolie2 > 2015-04-12 12:39 | Report Abuse

tropicana esos is about 1.35.
therefore, i think if any right issue , the market price shall be above 1.60 at least so that the discount price from 1.60 for right issue will fall to 1.45 (10% discount from 1.60)

Analyst put a fair value of 1.40 for tropicana.
Therefore, there is still room for danny to push the price from current 1.17 to 1.60 if he plan right issue.

Posted by jayawin > 2015-04-12 12:49 | Report Abuse

I think max. Price that they will push up is 1.25-1.30 only. Most likely right share will fixed at 1.00. So they will say price fixed at high discount

Posted by jolie2 > 2015-04-12 13:09 | Report Abuse

lelong, lelong.... cheap sale at chow kit road ?
danny sale for 1.00 dollar... anybody one ? right one share, free one tropicana condo ??

Posted by mani_cum > 2015-04-12 18:13 | Report Abuse

wanted to kept my silent but really "beh" tahan.

have been following this ctn. closely and let me refresh the major news, events and corporate exercises that have lead the share price from right issue till today.

Since early Mac 2012 the company still known as Dijaya Corp Bhd had announced it intention to raise cash as to fund a major asset injection from Tan Sri personal holding (mostly land) that he had accumulated for the past 30 years. Be4 news out DIJAYA price had rose from ~ 1.3 to a high of 1.72 and by the time news confirmed ( 6 March 2012 ) price had reversed all the way and close at 1.14 on the 12th. Sept 2012 ( Ex-Date ). Usual la sell at news mah.

http://www.tropicanacorp.com.my/media-centre/from-the-press/2012/business-times-singapore-08-march-2012-dijaya-asset-injection-to-boost-market-cap-to-over-rm-1-billion.html

Details of RI : 4R : 5 exiting share @ 1.2 per right share and Bonus issue of , 1 : 4 Right share.

After RI there is not much movement in it price and for the next 4 months it's supported around 1.0++. On the 6th. Feb 2013 momentum starts to built-up and its also where the " Property theme play " blow at the strongest pace that have lead share price appreciated to a historical high of 2.2 in a span of 4 months.

Sad story began : after marking the historical high there are rumour emerge that Tan sri via a Singapore-Listed Albedo Ltd ( lost making steel com ) is planing some exercises that many belief will have major impact on Dijaya. Many shareholders are caught by the surprise and wonder what will be the direct the company is heading next. To rub salt in the wound , both Tan Sri and his brother Vincent has sold some big blocks in open market.

http://www.thestar.com.my/Business/Business-News/2014/03/19/Danny-Tans-Albedo-deal-off/?style=biz

Selling pressure magnify and some how they manage to robe in EPF as Substantial SH and appointed Dickson Tan ( Danny's son ) as MD. The 1st. move Dickson do is to support the share price and aggressively purchase into Treasury. Knowing that his effort fail the last buy stop on Sept 2013 with Total no of retained treasury stood at 22,816,300 shares and most purchase at high side ( > 1.800 ).

Property themes fades and GST have also contributed to the downtrend till today.

( PART 1 ) to be cont........

Posted by bryan_su > 2015-04-12 18:21 | Report Abuse

danny still holding a lot of RCULS... i dun think will be another right issue in the short term...

Posted by rlch > 2015-04-12 22:34 | Report Abuse

No need right issue. Likely dividend news coming soon as over RM400 million already received from EcoWorld.

Posted by BURSAMASTER > 2015-04-12 22:59 | Report Abuse

Dont miss the boat.

Posted by mani_cum > 2015-04-13 02:08 | Report Abuse

Why do many ppl only see TROP as a company with a debt baggage of 2.4B? Is the debt arise due to years after years of operation lost or mismanagement? The answer is "NO" and majority of the debt is use to finance a vast and strategic land bank acquisation and in facts TROP have been enjoying a double digit growth for the past 4 FY.

A big proportion is used to acquire Tropicana Aman ( 1.3B deal / 474ha @ average of 25 per sf ) from Selangor State Government and recently sold 1/3 to Ecoworld ( gain of 12 cents per share ). Its a smart deal cos the repayment to Selangor State is on installment basis and can still remember once SAB ( Southern Acid Bhd ) share price double when news emerge that Ecoworld purchase 1/3 Tropicana Aman land for 35 per sf.

TROP Financial results show that the net profit margin varies bet. 20 to 25%. By having a huge land bank and the value of it GDV, one will see 2.4B is not really a baggage but rather potential of continuous growth for many years to come.

After Albedo issue, TROP share price has been badly bitten down and many investors tend to forget that the 2 last FY retaining profit ( after minus Div ) alone is at 50 cent per share.

On RI side : since share price had been a lagger thus far a 1:1 RI will definitely received a lot objection. Since Tan Sri already have 70% shares a 1:1 means he have to fork out 1B alone if the ex-price is at RM1 per right share. ( no RCULs and warrant scenario ). Would it be a better option like MGO with that cash?

If 1:2 - it will raise close to 700M and with Ecoworld deal ( 470M cash in bank ) and coming 3rd Q ( Sales of Tropicana City Mall for 540M ) u think Danny want to sleep with all the CASH ah?

For 1:3 or more its rather meaningless cos the amount raise is much smaller.

This world is actually live on CREDITs. If 1 developer want to launch a 100M project doesn't mean 100M solid cash need to be available on the table. They will leverage their suppliers, main con, sub cons and bank facilities at their disposal. Malaysia property is not ready for " Built and Sell " concept and once SPA signed bank loan will come to the picture.

( Part 2 ) to be cont...............

Posted by mani_cum > 2015-04-13 02:08 | Report Abuse

I need to clarify that i promote TROP is NOT MAINLY because i own it. Its because " the value offer " have attract me to BUY and share with u all. Its all facts and no point whatsoever if to cried wolf when the underlying share has just appreciate 10%.

Check out the date when 1st BUY call issue ( and those genuine investors which i know whom ).

GOOD LUCK SHAREHOLDERs!!!

Posted by inikalilah888 > 2015-04-13 11:17 | Report Abuse

So quiet today???

Posted by inikalilah888 > 2015-04-13 11:56 | Report Abuse

Tropicana Corporation may rebound further after closing above theMYR1.15 level. Traders may buy as a bullish bias could be present above this level, with a target price of MYR1.26, followed by MYR1.37. The stock may pull back to take a breather if it cannot sustain above the MYR1.15 mark. In this case, further support is anticipated at MYR1.06, where traders can exit upon a breach.

Posted by bryan_su > 2015-04-13 11:58 | Report Abuse

cannot la, TP only 1.15... sold all at 1.15.... see you at 1.00 again....

Posted by inikalilah888 > 2015-04-13 12:01 | Report Abuse

Chao ah...this con counter...

Posted by daniel119 > 2015-04-13 12:01 | Report Abuse

As usual, some "expert" will only comment when the share is shoot sky high ! agree ?

Posted by bryan_su > 2015-04-13 12:03 | Report Abuse

Kanangxx TP : 1.15 (HOLD).... rewards winner!!!!

Posted by nsyee28282828 > 2015-04-13 12:38 | Report Abuse

What happen? suddenly all the gains wiped up!!

Posted by nsyee28282828 > 2015-04-13 12:40 | Report Abuse

RHB responded instantly, their TP this time only 1.26

Posted by nsyee28282828 > 2015-04-13 12:44 | Report Abuse

RHB said if can hold at 1.15, will drop back to 1.06..
status quo again??

Posted by jolie2 > 2015-04-13 12:53 | Report Abuse

drop only 4 cents , everyone wet on the pants.
last time 1.10 drop to 1.06 ( 4 cents) then rebound to 1.17 (11 cents).
Now drop to 1.13 , later will rebound 10 cents to 1.23

analyst by : Jon't Lie ( from JL Investment Bank)

Posted by DarKLoRD888999 > 2015-04-13 13:01 | Report Abuse

What a best counter

Posted by jolie2 > 2015-04-13 13:09 | Report Abuse

don't percaya all this kenanga, rhb investment bank-lah
percaya JL Investment Bank.
TP: 1.50

Posted by fong7 > 2015-04-13 17:00 | Report Abuse

agree, according to TA, 1.25 coming... :P

Posted by nsyee28282828 > 2015-04-13 17:41 | Report Abuse

After the selling down today, tomorrow still got show or not?

Posted by cipapo > 2015-04-13 21:08 | Report Abuse

buy awc better

Posted by DarKLoRD888999 > 2015-04-14 10:38 | Report Abuse

Cipapo yeah baby

Posted by valueinvestor > 2015-04-14 20:08 | Report Abuse

Just imagine if each of the 11 projects can generate at least RM100 mil to RM200 mil profit for the company ......
http://www.tropicanacorp.com.my/property-collection.html

Posted by bsngpg > 2015-04-14 20:22 | Report Abuse

Want to earn money from Trop is a very difficult job. Indeed I strongly believe many are still losing money to Trop, me included, worst still, a big loser.

Posted by cipapo > 2015-04-14 20:26 | Report Abuse

bsngpg...no problem...earn back from awc

Posted by ladyluck > 2015-04-15 13:21 | Report Abuse

runnnnnnnnnnnnnnnnnnnn no show ady.............

Posted by ladyluck > 2015-04-15 13:22 | Report Abuse

jolie2 where got rebound...............all siang siang lari ady.....left her or his slipper like cindrella....hhahahahahahahaha

Posted by jolie2 > 2015-04-15 13:29 | Report Abuse

ladyluck.... you never do anal-ysis meh ? you want people to do anal for you meh ?

my insider told me this counter is not like your luvchem . Always luv only and anal only.

This counter got land one-lah. Your luvchem got plastic drum and rusty tank only-lah.

you go back to your luvchem and collect back your old slipper-lah.

Posted by ladyluck > 2015-04-15 14:22 | Report Abuse

Hahaha........heeeeeheeee why cannot tahan liao izit .....

Posted by brendan > 2015-04-15 18:21 | Report Abuse

http://www.theedgemarkets.com/my/article/tropicana-corp-sells-entire-stake-tenaga-kimia-repay-debt-working-capital

Posted by valueinvestor > 2015-04-15 21:37 | Report Abuse

KUALA LUMPUR (Apr 15): Tropicana Corp Bhd is disposing of its entire 73% stake in Tenaga Kimia Sdn Bhd to Austin Powder Asia Pacific for RM194.7 million cash, which will be used to repay debt and for working capital.

The property developer expects to record a net gain of RM48.5 million for its current financial year ending Dec 31, 2015 (FY15) arising from this proposed transaction.

"Tropicana will also benefit from interest savings as a result of the utilisation of the sale proceeds to lower borrowings," the group said in a statement today.

Tropicana's wholly-owned unit Tropicana Tenaga Kimia Sdn Bhd today signed an agreement with Austin Powder Asia Pacific for the proposed disposal.

"This proposed transaction is in line with Tropicana’s strategy to dispose non-core assets and heighten its property focus, as well as part of the group’s ongoing de-gearing exercise to reduce its borrowings," said Tropicana (fundamental: 1.3; valuation: 2.4) in the statement.

"Taking into account the sale of 308.72 acres Canal City land to Eco World Development Group Bhd ( Financial Dashboard) for RM471 million, which was completed on March 31, 2015, and the impending completion of the sale of 3.14 acres Bukit Bintang land to a joint venture led by Agile Property Holdings Ltd for RM448 million and the sale of Tropicana City Mall and Office Tower to Capitamalls Malaysia Trust for RM540 million, Tropicana’s potential net gearing could fall to approximately 0.3 times !!! " said the group.

"This will put Tropicana in a stronger financial footing while it continues to further strengthen its balance sheet via unlocking value of its landbank," it added.

Tenaga Kimia and its group of companies are involved in the manufacturing and supply of emulsion explosives and technical blasting services supporting various industries including construction, mining, and oil and gas. The group has presence in Malaysia, Indonesia, the Philippines, Hong Kong, Taiwan and Indochina.

Austin Powder Asia Pacific is a subsidiary of US-based Austin Powder Holdings Co, which is involved in the full line supply of civil explosives and blasting services to the global mining, stone quarry, construction, and oil and gas industries.

Tropicana shares closed one sen down at RM1.12 today, bringing a market capitalisation of RM1.6 billion.

(Source:The Edge Markets)

Posted by cipapo > 2015-04-15 21:38 | Report Abuse

austin powers?....u gotta be kidding haha

Posted by DarKLoRD888999 > 2015-04-15 23:43 | Report Abuse

Cipapo wait and watch

Posted by fong7 > 2015-04-16 00:39 | Report Abuse

wow! 0.3x gearing! that's very impressive! bravo! 3.00 coming! :P

Posted by fong7 > 2015-04-16 00:41 | Report Abuse

RNAV 3.89, 30% discount would be 2.72 :P

Posted by jolie2 > 2015-04-16 06:36 | Report Abuse

today the rich-investor will push this stock until to the roof.

Posted by luckyman > 2015-04-16 06:48 | Report Abuse

http://m.thestar.com.my/story.aspx?hl=Tropicana+Corp+sells+entire+stake+in+explosives+producer+for+nearly+RM200m&sec=business&id={3FA5D649-8C49-4556-AF51-5D46624CC09A}

Posted by superman11 > 2015-04-16 08:57 | Report Abuse

（吉隆坡15日讯）丽阳机构（TROP，5401，主板产业股）宣布，以1亿9470万令吉脱售Tenaga Kimia（简称TKSB）的73%股权，预计收益达4850万令吉。
根据文告，该股权是经由子公司Tropicana Tenaga Kimia，脱售给亚太Austin Powder。
“脱售将为公司捎来4850万令吉收益，将用作营运资本，及偿还银行贷款。”
TKSB及相关公司主要是制造乳化炸药，及提供爆破技术服务给不同的领域，包括建筑、矿业和油气业者。
“这符合我们脱售非核心资产、着重产业及降低负债的策略。”
2014财年，TKSB为丽阳机构贡献1890万令吉的净利。
丽阳机构表示，公司降低负债的举措已看见成效。
完成多项脱售活动后，该公司的净负债，有望降至0.3倍，进一步巩固资产负债表。

Posted by superman11 > 2015-04-16 08:58 | Report Abuse

Buy in more.. huat ah

Posted by Investeye > 2015-04-16 09:02 | Report Abuse

it is a positive move to reduce debt and focus on properties.

Posted by Tsuto > 2015-04-16 12:14 | Report Abuse

I would see it as positive.if there is too many landbank that trop wouldnt develop in near future. Might as well pocket the profit and pay off some debt

Posted by fong7 > 2015-04-16 14:09 | Report Abuse

it has huge landbanks actually. And since it focus on high end segment, now is not a good time to push too many projects out. Wait few years, when most of those recent foreign investments established their office or factories here, that is the time to push more projects out and i'm sure the profit margin will be much higher by then.

Posted by fong7 > 2015-04-16 14:10 | Report Abuse

gearing at 0.3x is very healthy already! It's no longer so called "high debt" worry. To get a normal valuation with peers, share price should go much higher. It's trading at 0.29x RNAV now, that's super low!

Posted by fong7 > 2015-04-16 14:12 | Report Abuse

luckyman, the link does not work.