Forensic Reporting on Tiger Main Shareholder

Scenario Analysis:


Tiger have a share base of 2 Billion.


A) Opening Ledger Balance of  Tiger shareholder as at 31 December 2016:

1) Tan Wei Lian -                            274.1 million              (Pledge)

2) Tan Lee Chin                               41.2 million             (Pledge)

3) Tan Li Li                                      52 million                (Pledge)

4) Sek Chian Nee                             17.5 million             (Pledge)

5) Sek Chian Teng                            11.7 million             (Pledge)

Total Mr Tan and his spouse family hold 396.5 million   (Source: Tiger Annual Report 2016)



B) Closing Ledger Balance of  Tiger shareholder as at 29 September 2017:

1) Tan Wei Lian -                            298 million              (Pledge)

2) Tan Lee Chin                               41.2 million             (Pledge)

3) Tan Li Li                                      52 million                (Pledge)

4) Sek Chian Nee                             57.2 million             (Pledge)

5) Sek Chian Teng                            11.7 million             (Pledge)


Total Mr Tan and his spouse family hold 460.1 million   (Source: Bursa Announcement 29 Sept 2017)


*Caveat: This excluded a DBT of 57.2 million by Sek Chian Nee (spouse of Tan Wei Lian).


From these analysis:

1) Mr Tan and family had a pledge share of Tiger to the tune of RM 460 million currently and at current valuation of RM 0.05, it is worth RM 25 million.

2) At a revolving credit rate of 12 percent per annum, Mr Tan would have to pay interest bearing of RM 3 million per year

3) A mere 0.5 sen drop would cause him RM 2.3 million of losses and margin call.

4) This is based on direct analysis. If you added his proxies, things get worse.

5) I would give this counter a chance as long as Mr. Tan shareholding remains and this counter is out of PN 4 or PN 17.



"God's Blessing is the greatest saviour"


Good Luck! Amigo!


Yours Sincerely,

Dr Lion.