Tropicana Corporation Bhd
Tropicana Corporation Berhad engages in the property development businesses in Malaysia. It operates through three segments: Property Development and Property Management; Property Investment, Recreation and Resort; and Investment Holding and Others. The company develops residential and commercial properties; operates and manages hotels, resorts, golf courses, and club houses; invests in commercia… Read more
Tropicana Corporation Bhd (5401) - Net Assets
Latest net assets as of December 2025: RM4.66 Billion MYR
Based on the latest financial reports, Tropicana Corporation Bhd (5401) has net assets worth RM4.66 Billion MYR as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM10.85 Billion) and total liabilities (RM6.19 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM4.66 Billion |
| % of Total Assets | 42.97% |
| Annual Growth Rate | 5.85% |
| 5-Year Change | -22.13% |
| 10-Year Change | 49.03% |
| Growth Volatility | 20.29 |
Tropicana Corporation Bhd - Net Assets Trend (2012–2025)
This chart illustrates how Tropicana Corporation Bhd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tropicana Corporation Bhd (2012–2025)
The table below shows the annual net assets of Tropicana Corporation Bhd from 2012 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM4.66 Billion | -13.46% |
| 2024-12-31 | RM5.38 Billion | -7.27% |
| 2023-12-31 | RM5.81 Billion | +0.90% |
| 2022-12-31 | RM5.76 Billion | -3.83% |
| 2021-12-31 | RM5.98 Billion | +20.68% |
| 2020-12-31 | RM4.96 Billion | -12.21% |
| 2019-12-31 | RM5.65 Billion | +65.96% |
| 2018-12-31 | RM3.40 Billion | +3.91% |
| 2017-12-31 | RM3.28 Billion | +4.75% |
| 2016-12-31 | RM3.13 Billion | -6.80% |
| 2015-12-31 | RM3.35 Billion | +5.34% |
| 2014-12-31 | RM3.19 Billion | +16.50% |
| 2013-12-31 | RM2.73 Billion | +22.82% |
| 2012-12-31 | RM2.23 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tropicana Corporation Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 42.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM651.48 Million | 16.56% |
| Common Stock | RM3.31 Billion | 84.14% |
| Other Comprehensive Income | RM-781.00K | -0.02% |
| Total Equity | RM3.93 Billion | 100.00% |
Tropicana Corporation Bhd Competitors by Market Cap
The table below lists competitors of Tropicana Corporation Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ricardo plc
F:RIR
|
$168.54 Million |
|
Shanghai Shibei Hi-Tech Co Ltd B
SHG:900902
|
$168.57 Million |
|
Echoiq Ltd
AU:EIQ
|
$168.60 Million |
|
Deceuninck N.V.
LSE:0MEL
|
$168.66 Million |
|
Smart Eye AB
ST:SEYE
|
$168.51 Million |
|
RAJAF
OTCQB:RAJAF
|
$168.48 Million |
|
CviLux Corp
TW:8103
|
$168.42 Million |
|
Adimmune Corp
TW:4142
|
$168.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tropicana Corporation Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,625,312,000 to 3,933,357,000, a change of -691,955,000 (-15.0%).
- Net loss of 83,291,000 reduced equity.
- Share repurchases of 60,970,000 reduced equity.
- Other comprehensive income decreased equity by 781,000.
- Other factors decreased equity by 546,913,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM-83.29 Million | -2.12% |
| Share Repurchases | RM60.97 Million | -1.55% |
| Other Comprehensive Income | RM-781.00K | -0.02% |
| Other Changes | RM-546.91 Million | -13.9% |
| Total Change | RM- | -14.96% |
Book Value vs Market Value Analysis
This analysis compares Tropicana Corporation Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.79x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.63x to 0.79x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | RM2.01 | RM1.27 | x |
| 2017-12-31 | RM2.08 | RM1.27 | x |
| 2018-12-31 | RM2.19 | RM1.27 | x |
| 2019-12-31 | RM0.67 | RM1.27 | x |
| 2020-12-31 | RM3.25 | RM1.27 | x |
| 2021-12-31 | RM2.12 | RM1.27 | x |
| 2022-12-31 | RM2.03 | RM1.27 | x |
| 2023-12-31 | RM2.28 | RM1.27 | x |
| 2024-12-31 | RM1.88 | RM1.27 | x |
| 2025-12-31 | RM1.61 | RM1.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tropicana Corporation Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -2.12%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -5.42%
- • Asset Turnover: 0.14x
- • Equity Multiplier: 2.76x
- Recent ROE (-2.12%) is below the historical average (1.95%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 3.60% | 7.71% | 0.20x | 2.34x | RM-200.15 Million |
| 2017 | 5.52% | 9.97% | 0.24x | 2.28x | RM-146.66 Million |
| 2018 | 5.00% | 10.40% | 0.20x | 2.38x | RM-170.34 Million |
| 2019 | 19.72% | 28.24% | 0.10x | 6.94x | RM158.08 Million |
| 2020 | 2.19% | 10.23% | 0.09x | 2.38x | RM-387.21 Million |
| 2021 | -0.57% | -3.37% | 0.07x | 2.38x | RM-545.93 Million |
| 2022 | -7.98% | -41.74% | 0.08x | 2.49x | RM-886.29 Million |
| 2023 | -2.61% | -8.68% | 0.12x | 2.41x | RM-625.91 Million |
| 2024 | -3.28% | -10.85% | 0.13x | 2.32x | RM-614.30 Million |
| 2025 | -2.12% | -5.42% | 0.14x | 2.76x | RM-476.63 Million |
Industry Comparison
This section compares Tropicana Corporation Bhd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $565,025,416
- Average return on equity (ROE) among peers: 6.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tropicana Corporation Bhd (5401) | RM4.66 Billion | 3.60% | 1.33x | $168.53 Million |
| Vinvest Capital Holdings Bhd (0069) | $581.54 Million | 0.67% | 0.36x | $2.71 Million |
| Gagasan Nadi Cergas Berhad (0206) | $442.13 Million | -0.76% | 1.23x | $7.59 Million |
| Vestland Berhad (0273) | $46.45 Million | 22.90% | 2.63x | $15.49 Million |
| KTI (0308) | $127.30 Million | 12.27% | 0.83x | $5.35 Million |
| Global Oriental Bhd (1147) | $255.86 Million | 5.65% | 2.56x | $4.63 Million |
| GuocoLand (Malaysia) Bhd (1503) | $892.00 Million | 4.71% | 1.18x | $21.92 Million |
| Symphony Life Bhd (1538) | $916.62 Million | -0.87% | 0.32x | $11.92 Million |
| Iskandar Waterfront City Bhd (1589) | $812.33 Million | 5.62% | 1.19x | $27.36 Million |
| Paramount Corporation Bhd (1724) | $727.00 Million | 7.43% | 0.79x | $69.73 Million |
| Selangor Dredging Bhd (2224) | $849.02 Million | 2.88% | 0.71x | $9.77 Million |