Posted by getingreal > 2021-03-06 11:08 | Report Abuse

Reading the above, Tropicana (a property developer) borrowed 100 million by way of a Sukuk at 7% to 15%. Tropicana then spends 78.4 million to buy 11.25 million Top Glove shares (Tropicana's major shareholders own controlled company) at average price of 6.97 a share on the open market, at a time when Top Glove shares were rapidly dropping.

A simple calculation on the above is that a close Friday Tropicana has already lost over 20 million of the 100 million Sukuk in the last few months, plus the significant issue costs and fees paid to HSBC and the high interest being paid on the Sukuk. Also Tropicana will have incurred brokerage fees on the purchase of the shares.

My guess is almost all, if not all, of the net cash received from the 100 million sukuk is gone into buying the 11.25 million Top Glove shares. No wonder Senior Independent Director resigned.

I cant help but think this is a blatant rape of Tropicana minority shareholders to improperly try to prop up the share price of the major shoulders company.

Where is the SEC?

Posted by hazli > 2021-03-12 23:11 | Report Abuse

PETALING JAYA (March 10): Tropicana Corp Bhd partners with Maybank Islamic to offer a homeownership financing solution that offers 100% financing in collaboration with Maybank Islamic’s HouzKEY program.
Tropicana group managing director Dion Tan said in a press release: “We are proud to have Maybank Islamic as our financing partner. At Tropicana, aside from offering customer-centric products, we want to provide easy ownership solutions to our homebuyers too. We believe the unique value propositions offered by Maybank will enable homebuyers to acquire Tropicana property with easy entry and minimal capital outlay. This solution only requires a three-month refundable deposit and it is easy plus attractive to our younger market segment. Coupled with our wide array of product offerings that range from high rise to landed abodes, for both ongoing and move-in ready properties, we believe this collaboration will be a win-win for all parties.”
According to Tropicana, the program targets first- and second-time homebuyers as it provides zero payments during construction and the lowest monthly payments with the best rates. Tropicana is one of the early adopters of the latest version of HouzKEY which allows the enjoyment of government incentives such as the Home Ownership Campaign (HOC) that offers stamp duty exemptions, MOT waivers and 10% discount on the purchase of residential properties. This partnership also enables Bumi discount for eligible Bumiputra buyers and EPF withdrawal for monthly payments or direct deduction of principal.
Maybank Real Estate Ventures managing director Sally Lye said: “We are truly proud of this collaboration with Tropicana, and we believe that our HouzKEY product is the perfect solution for homeownership in the current market. Working together, we are widening our reach and opening up opportunities for more Malaysians to own properties without having to worry about the high upfront costs associated with purchasing a property.”
The participating properties include the completed Paisley Serviced Residences, and the newly launched Residences (South) within Tropicana Metropark, a freehold 88-acre master plan in Subang Jaya with a direct link to the Federal Highway complemented by a 9.2-acre Urban Park and the GEMS International School.
Another property is Edelweiss Serviced Residences at Tropicana Gardens which boasts a central location in Kota Damansara and Tropicana Indah with a direct connection to the Surian MRT Station and the one million sq ft Tropicana Gardens Mall.
Two more offerings that are slated for completion in 2021 are the modern apartments of Aman 1 at Tropicana Aman, Kota Kemuning which is a walking and biking community with an 85-acre central park, Tenby International School and SJKC Bukit Fraser; and the linked villas of Lakefield Residences at Tropicana Heights, Kajang — a freehold 199-acre masterplan sited on a former golf course which has a 16-acre central park and a two-acre recreational hub.
In the southern region, Ayera Residences offers two-storey park homes nestled within the exclusive enclave of Tropicana Danga Cove, Iskandar Malaysia.
Concurrently, Tropicana is running its Tropicana 100 campaign which offers 100% deals for homebuyers. In conjunction with the Chinese New Year, Maybank Islamic is also running the HouzKEY 2021 Ox-picious New Year Campaign offering additional RM800 vouchers for HouzKEY applicants until April 8 this year.

Posted by getingreal > 2021-03-15 15:35 | Report Abuse

Anyone else want to use forum for advertising?

Posted by breeder > 2021-04-01 17:38 | Report Abuse

Looks like its prices are trending south ….. waiting below 80 sen.

Posted by IdleMoney66 > 2021-04-16 20:48 | Report Abuse

typical buy high sell low.....
How can this corp can be so ridiculous? What happen to the Board of directors here?
No one against on buying Topglove at high price and then sell at a lower price??
Lim really disappointed us and also Tan family....Both doing good in charity Tsun zi but con at the minor investor here...

Posted by gemfinder > 2021-04-16 23:49 | Report Abuse

https://www.klsescreener.com/v2/news/view/817041/tropicana-sells-1-85-million-top-glove-shares-at-loss

Posted by gemfinder > 2021-04-16 23:50 |

Post removed.Why?

Posted by getingreal > 2021-04-18 10:00 | Report Abuse

Minority shareholders got raped!

Posted by Bgt 9963 > 2021-04-18 10:35 |

Post removed.Why?

Posted by laosai_glove > 2021-04-18 12:14 | Report Abuse

When are Tropicana shareholders going to sue Lim weechai?

Posted by laosai_glove > 2021-04-18 12:15 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/04/17/tropicana-sell-185-million-top-glove-shares-at-a-loss

Posted by laosai_glove > 2021-04-18 12:16 | Report Abuse

The greedy glove boss used Tropicana to support Topglove share price but Tropicana is making big loss lol

Posted by will75 > 2021-04-18 14:09 | Report Abuse

Offset by dividend still gain! You finished school dy?

Posted by gemfinder > 2021-04-18 19:45 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/04/17/tropicana-sell-185-million-top-glove-shares-at-a-loss

Posted by gemfinder > 2021-04-18 19:45 |

Post removed.Why?

Posted by gemfinder > 2021-04-18 19:46 |

Post removed.Why?

Posted by breeder > 2021-04-25 15:55 | Report Abuse

Setting traps again ..... be careful .... invest wisely ....

Posted by joni > 2021-05-05 18:42 | Report Abuse

@Hazli Tropicana Metropark link road into federal highway was partly completed, only KL bounce traffic can swing to federal highways but not Klang bounce ; See the sore eye incomplete elevated sections were overhanging and poorly built bumpy tarmac road. They are so good in cutting corners. Promises never fulfilled as in when it was launched few years back.

Posted by brian3381 > 2021-08-03 13:48 | Report Abuse

has the bod of Tropicana been fired????? use money to buy topglv!!!!

Posted by risktoreward > 2021-08-04 16:47 | Report Abuse

got tropicana @ 0.91

Posted by risktoreward > 2021-08-06 09:32 | Report Abuse

release @ 0.91, catch and release

Posted by dompeilee > 2021-09-17 06:35 | Report Abuse

Came here becos someone on another thread mention that TROP was an uptrend stock & I remembered buying 10 lots sometime back...Checked my records & found that I DID indeed BUY 10 lots on 25/1/18 @ 91.5c =D

Posted by dompeilee > 2021-09-20 16:37 | Report Abuse

SOLD TROP @ 1.03

Posted by thesteward > 2021-09-29 07:44 | Report Abuse

https://www.klsescreener.com/v2/announcements/view/3431777

Posted by Why_ > 2021-09-29 11:55 | Report Abuse

Lose $ buying TG why goreng instead?

Posted by brian3381 > Aug 3, 2021 1:48 PM | Report Abuse
has the bod of Tropicana been fired????? use money to buy topglv!!!!

Posted by BursaRangers > 2021-10-04 22:44 | Report Abuse

https://klse.i3investor.com/blogs/BursaRangersTechnicalPicks/2021-10-04-story-h1591902071-BursaRangers_Daily_Technical_Picks_5_October_2021.jsp

Posted by pinnaclegrade > 2021-10-09 18:06 | Report Abuse

https://www.theedgemarkets.com/article/tropicana-education-management-seeks-possession-st-josephs-institution-rental-arrears-more

Posted by dompeilee > 2021-10-12 11:47 | Report Abuse

Ohhh nice!!! Just 8 ticks away from my original cost price STUCK for 3 years...got future chance here! =)

Posted by Syakib Arsalan > 2021-11-10 16:05 | Report Abuse

The king of shares buyback

Posted by Syakib Arsalan > 2021-11-15 16:24 | Report Abuse

thesteward Looking good . Watching close next 2 weeks . If can break 1.06 again could spike

Nobody berminat this stock. Beli sesama sendiri jer. Kalau mau break 1.06 diorang kena break sendiri. No retailers at all.

Posted by Syakib Arsalan > 2021-12-21 17:11 | Report Abuse

Kulepaskan jua, hold sejak Disember 2014. Waste time.

Posted by Syakib Arsalan > 2022-01-04 11:56 | Report Abuse

No volume at all today !!!???

Posted by Syakib Arsalan > 2022-01-04 12:32 | Report Abuse

Dah tegur adalah volume sikit. Sekadar tunjuk masih bernyawa.

Posted by getingreal > 2022-01-12 09:22 | Report Abuse

Lim resigned as Tropicana Chairman as a result of Tropicana buying shares in his company Top Glove at his behest. Lim and his team of directors improperly abused their position of trust and bought the shares to help Lim shore up the price of falling Top Glove share price. You may recall independent Directors properly resigned over the matter at the time and I for one salute their honorable protest.

Tropicana had no business buying the shares in Lims Top Glove a business that is entirely different than that of Tropicana's. Worse Tropicana used borrowed money to do it. Subsequently Tropicana has suffered a huge loss on the shares improperly bought and still has the borrowings to repay. Lim improperly used Tropicana for his own benefit and purpose at the cost of minority shareholders.

Lim rightly has resigned, but now so to must the sycophant Directors that supported Lim.

Lim and his supporting Directors are responsible and they now need to put this matter right by not only resigning (which does not cure the damage done to Tropicana) by refunding Tropicana for the loss including interest and loan costs. Lim and his sycophant Directors must make good their wrong and put things right. Your reputations are on the line.

Posted by Hunkyman > 2022-03-03 23:06 | Report Abuse

Finally after a long wait

Posted by newbie5354_ > 2022-08-20 03:23 | Report Abuse

Loss QR why can goreng? How to choose stocks in Bursa to make money?

Posted by Dehcomic01 > 2023-07-07 06:46 | Report Abuse

Property companies went through a tough past decade but there are signs of a turnaround. Refer to "Will the Malaysian Property industry turn around by 2024?". From 2011 to 2022, the mean ROE of the large Bursa property companies averaged 7%. Compared to his, Tropicana ROE averaged only 5%. So why did Tropicana stock price moved over the past couple of months when the other companies did not have the same amount of increase? Surely it cannot be due to the performance alone.

Posted by Solidcross > 2023-07-25 12:03 | Report Abuse

goreng. don't get caught. liquidity is very low in this company. avoid if possible

Posted by SS3U > 2023-10-01 22:25 | Report Abuse

The king of shares buyback

Posted by SS3U > 2023-10-14 00:38 | Report Abuse

Kena sued by Sunway

Posted by nikicheong > 2023-11-03 09:12 | Report Abuse

FYI W Hotel is being sold, 2% deposit has been collected.

Posted by nikicheong > 2023-12-22 10:30 | Report Abuse

IOI Properties on shopping spree, eyes Tropicana Corp’s retail and hospitality assets

IOI Properties Bhd signed a sale and purchase agreement last week to buy W Kuala Lumpur from Tropicana Corp Bhd for RM270 million. However, the two companies have yet to end talks as two more assets have been put on the negotiating table. IOI Properties is said to be keen on buying Tropicana Gardens Mall in Kota Damansara, Selangor, and Courtyard by Marriott Penang, which together are valued at between RM800 million and RM1 billion.

https://theedgemalaysia.com/node/693558

Posted by wallstreetrookieNEW > 2024-04-23 09:20 | Report Abuse

Bought back

Posted by thesteward > 2024-04-25 12:05 | Report Abuse

Malaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest City

Posted by thesteward > 2024-04-25 12:05 | Report Abuse

Might benefit trop

Posted by thesteward > 2024-04-25 12:06 | Report Abuse

Trop many suitable land in Johor

Posted by edithcapital > 2024-06-14 12:18 | Report Abuse

Tropicana Corp partners Samsung to offer AI home appliances in upcoming developments!!
https://www.klsescreener.com/v2/news/view/1342397/tropicana-corp-partners-samsung-to-offer-ai-home-appliances-in-upcoming-developments

Posted by bargainhunters > 2024-07-16 09:51 | Report Abuse

collecting

Posted by nikicheong > 2024-07-22 17:01 | Report Abuse

Reason for increments in share pricing, anyone?

Posted by Killsthebear > 2024-07-23 17:24 | Report Abuse

https://www.nst.com.my/property/2024/07/1079817/tropicana-develop-rm35b-mega-townships-johor-bttv