Tropicana Corporation Bhd (5401) - Net Assets

Latest as of December 2025: RM4.66 Billion MYR ≈ $1.17 Billion USD

Based on the latest financial reports, Tropicana Corporation Bhd (5401) has net assets worth RM4.66 Billion MYR (≈ $1.17 Billion USD) 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 ≈ $2.72 Billion USD) and total liabilities (RM6.19 Billion ≈ $1.55 Billion USD). 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. Check Tropicana Corporation Bhd (5401) liquid assets ratio to evaluate the company's liquid asset resilience ratio.

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. Also explore 5401 total assets for the complete picture of this company's asset base.

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. For live valuation and market cap data, see Tropicana Corporation Bhd (5401) market capitalisation.

Year	Net Assets	Change
2025-12-31	RM4.66 Billion ≈ $1.17 Billion	-13.46%
2024-12-31	RM5.38 Billion ≈ $1.35 Billion	-7.27%
2023-12-31	RM5.81 Billion ≈ $1.46 Billion	+0.90%
2022-12-31	RM5.76 Billion ≈ $1.44 Billion	-3.83%
2021-12-31	RM5.98 Billion ≈ $1.50 Billion	+20.68%
2020-12-31	RM4.96 Billion ≈ $1.24 Billion	-12.21%
2019-12-31	RM5.65 Billion ≈ $1.42 Billion	+65.96%
2018-12-31	RM3.40 Billion ≈ $854.55 Million	+3.91%
2017-12-31	RM3.28 Billion ≈ $822.37 Million	+4.75%
2016-12-31	RM3.13 Billion ≈ $785.06 Million	-6.80%
2015-12-31	RM3.35 Billion ≈ $842.33 Million	+5.34%
2014-12-31	RM3.19 Billion ≈ $799.65 Million	+16.50%
2013-12-31	RM2.73 Billion ≈ $686.42 Million	+22.82%
2012-12-31	RM2.23 Billion ≈ $558.88 Million	--

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
Jiangxi Yuean Advanced Materials Co Ltd SHG:688786	$690.82 Million
Cikarang Listrindo Tbk PT JK:POWR	$691.04 Million
Hanwang Technology Co Ltd SHE:002362	$691.10 Million
Hubei Xiangyuan New Material Technology Inc. SHE:300980	$691.15 Million
Brilliance Technology Co Ltd SHE:300542	$690.28 Million
Yunnan Coal & Energy Co Ltd SHG:600792	$690.27 Million
Anhui Gourgen Traffic Construction Co Ltd SHG:603815	$690.13 Million
Guangdong Champion Asia Electronics Co Ltd SHG:603386	$690.01 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: 0.71x
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 0.57x to 0.71x 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	RM1.14	x
2017-12-31	RM2.08	RM1.14	x
2018-12-31	RM2.19	RM1.14	x
2019-12-31	RM0.67	RM1.14	x
2020-12-31	RM3.25	RM1.14	x
2021-12-31	RM2.12	RM1.14	x
2022-12-31	RM2.03	RM1.14	x
2023-12-31	RM2.28	RM1.14	x
2024-12-31	RM1.88	RM1.14	x
2025-12-31	RM1.61	RM1.14	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: $653,302,681
Average return on equity (ROE) among peers: 1.43%

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	$690.54 Million
Vinvest Capital Holdings Bhd (0069)	$452.10 Million	0.97%	0.16x	$4.87 Million
Gagasan Nadi Cergas Berhad (0206)	$441.26 Million	5.73%	1.10x	$63.33 Million
Vestland Berhad (0273)	$46.45 Million	22.90%	2.63x	$135.14 Million
Global Oriental Bhd (1147)	$450.00 Million	6.67%	1.42x	$10.84 Million
Pan Malaysia Holdings Bhd (1287)	$28.01 Million	-47.59%	0.90x	$195.31 Million
GuocoLand (Malaysia) Bhd (1503)	$1.39 Billion	4.78%	1.04x	$181.65 Million
Symphony Life Bhd (1538)	$932.53 Million	6.66%	0.61x	$34.00 Million
Iskandar Waterfront City Bhd (1589)	$719.54 Million	-2.64%	0.91x	$56.66 Million
Paramount Corporation Bhd (1724)	$1.24 Billion	11.83%	1.05x	$161.05 Million
Selangor Dredging Bhd (2224)	$830.33 Million	5.04%	0.78x	$48.68 Million

About Tropicana Corporation Bhd

KLSE:5401 Malaysia Real Estate - Development

Market Cap

$690.54 Million

RM2.75 Billion MYR

Market Cap Rank

#11015 Global

#105 in Malaysia

Share Price

RM1.14

Change (1 day)

-1.72%

52-Week Range

RM1.05 - RM1.30

All Time High

RM1.76