I bought Tropicana years ago at around RM 1 as I thought that the asset value provided a sufficient margin of safety. Then it had the asset write-down so I decided to exit around RM 1.45. Not fantastic profits. This raises the question on why invest in stocks when the evidence shows that if you have a 30 years investment horizon, you are better off with real properties? Refer to https://www.i4value.asia/2020/08/in-malaysia-which-has-better-returns.html#more

Tropicana Corp Bhd https://rb.gy/p2sklv reported a pre-tax profit of RM24 million for Q3 2023, a nearly five-fold increase from RM5 million in the same period last year. The revenue for the quarter was RM402.8 million, up by RM81.1 million (25.2%) compared to the previous year. This growth was driven by the completion of a RM71 million disposal of freehold development land in Kajang and Genting Highlands, along with ongoing cost-cutting measures.