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Thank you for the detailed information. It' s useful.
HendriJB ( Date: 04-Dec-2017 14:02) Posted:
What are the main steps involved in an en-bloc sale process?
> Phase 1: Pre-Sale Preparation (3 months on the complexity and number of owners involved in the Sale) &ndash it includes the signing of the Collective Sale Agreement.
> Phase 2: Public Tender Stage (2 months) &ndash Development is up for Public Tender, and await developers to submit their bids.
> Phase 3: Post Tender (1 month) &ndash Evaluation of bids and negotiations with developers if necessary.
> Phase 4: Legal Completion (3 months) &ndash if there is less than 100% consensus, an application for an order to sell to the Strata Title Board is required.
On the average, how long does the en-bloc sale process take?
Generally, it takes about 9 to 12 months and another 6 months if necessary.
HappyInvestor22 ( Date: 10-Nov-2017 19:50) Posted:
| Any idea how long the en bloc process will take for Sim Lim and City Plaza? Whether it' s successful or unsuccessful. |
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Second Chance Properties Ltd (Company Registration No.198103193M) ALLOTMENT AND ISSUE OF SHARES PURSUANT TO WARRANT EXERCISE The Board of Directors of Second Chance Properties Ltd (the " Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that the number of issued ordinary shares of the Company has increased from 754,946,551 ordinary shares to 754,961,551 ordinary shares by way of the allotment and issuance of 15,000 new ordinary shares in the capital of the Company (the &ldquo New Shares&rdquo ) pursuant to the exercise of 15,000 warrants at the exercise price of S$0.25 per share, on 5 December 2017. The New Shares rank pari passu in all respects with the existing shares of the Company. The New Shares are expected to be listed and quoted on the SGX-ST on 7 December 2017 and trading of the New Shares is expected to commence with effect from 9:00 a.m. on the same date. Pursuant to the aforesaid exercise of warrants, there are 747,779,853 outstanding warrants each with an exercise price of S$0.25 expiring on the date immediately preceding the third (3rd) anniversary of the date of issue of the Bonus Warrants. BY ORDER OF THE BOARD Mohamed Salleh s/o Kadir Mohideen Saibu Maricar Executive Chairman & Chief Executive Officer 6 December 2017
SGX:528 - Second Chance (SGD 0.255)32 Followers
SECOND CHANCE PROPERTIES LTD
Upcoming Earning Release - 27 Dec 2017
Recent Earning Release - 30 Oct 2017
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What are the main steps involved in an en-bloc sale process?
> Phase 1: Pre-Sale Preparation (3 months on the complexity and number of owners involved in the Sale) &ndash it includes the signing of the Collective Sale Agreement.
> Phase 2: Public Tender Stage (2 months) &ndash Development is up for Public Tender, and await developers to submit their bids.
> Phase 3: Post Tender (1 month) &ndash Evaluation of bids and negotiations with developers if necessary.
> Phase 4: Legal Completion (3 months) &ndash if there is less than 100% consensus, an application for an order to sell to the Strata Title Board is required.
On the average, how long does the en-bloc sale process take?
Generally, it takes about 9 to 12 months and another 6 months if necessary.
HappyInvestor22 ( Date: 10-Nov-2017 19:50) Posted:
| Any idea how long the en bloc process will take for Sim Lim and City Plaza? Whether it' s successful or unsuccessful. |
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Any idea how long the en bloc process will take for Sim Lim and City Plaza? Whether it' s successful or unsuccessful.
Tuesday 31st October 2017 - - City Plaza, an 18-storey freehold building with 450 units, including 66 apartments, will hold its extraordinary general meeting for the formation of the collective sale committee tomorrow.
En Bloc Fever is ON for Commercial - City Plaza - read more in here http://www.straitstimes.com/business/property/more-estates-get-in-on-collective-sale-action
Second Chances Properties List in the year 2015.
Now - let&rsquo s see which property is potential en bloc?
- Sim Lim Square (19 properties) ✅
- Sunshine Plaza ( 1 property)
- Peninsula Plaza (5 properties)
- Boon Lay Shopping Centre (2 properties)
- Far East Plaza (2 properties)
- Lucky Plaza (1 property)
- People&rsquo s Park Complex (1 property)
- International Plaza (1 property)
- City Plaza (17 properties) ✅
- 11 other properties that are not in shopping malls
Second Chance Properties also owns three lots at the Ampang Shopping Centre in Kuala Lumpur and a Dealership Store in Perak.
✅ - En Bloc Potential.
10 Things to Know About Second Chance Properties Ltd&rsquo s Latest Earnings
Sudhan P. | October 31, 2017
| More on: 528 published 3 hours ago.
Second Chance Properties Ltd (SGX: 528) is involved in selling apparels under the
First Ladybrand, retailing gold jewellery under
Golden Chance, property investments, and securities investments such as bonds, stocks and real estate investment trusts.
Yesterday, the firm announced its financial results for the full year ended 31 August 2017 (FY 2017). Here are 10 things investors should know from the earnings announcement:
1. Revenue slipped 11% year-on-year to S$34.8 million. The poor showing was due to declines in revenue from all its business divisions, except Gold.
2. The Apparel business&rsquo sales fell 30% primarily due to &ldquo closure of thirteen shops in Malaysia since the end of FY 2016, the weakening Malaysian Ringgit and also intense competition there primarily due to increasing trend of online shopping&rdquo .
3. However, profit from operations managed to grow 1% to S$11.7 million.
4. Net profit surged 35.9% to S$9.5 million. The rise was mainly due to a S$1.4 million gain on fair valuation of financial assets. However, the Apparel business went into a deeper loss of S$1.9 million (before interest, tax and unallocated expenses) as compared to the loss of S$0.8 million in FY 2016.
5. As of 31 August 2017, the firm had S$6.5 million in cash and S$45.8 million in total borrowings. This translates to a net debt position of S$39.3 million, an improvement from a year ago when the net debt figure stood at S$53.3 million.
6. Second Chance Properties&rsquo net asset value was 34.56 cents, up from 33.92 cents a year ago.
7. The current ratio (current assets divided by current liabilities) came in at 1.30 for the latest period versus 0.96 one year back. This ratio measures the liquidity of a company and the ability to finance its short-term liabilities with its short-term assets.
8. The debt-to-equity ratio, which shows a firm&rsquo s financial leverage, was 0.21 for FY 2017, an improvement from 0.25 seen last year.
9. Second Chance Properties generated S$9.7 million in free cash flow for the year (S$16 million in net cash from operations and around S$6.4 million in capital expenditures). One year ago, it raked in S$14.3 million in free cash flow. The decline was due to the purchase of available-for-sale financial asset in FY 2017.
10. Shareholders would receive a final dividend of 0.3 cents per ordinary share, up from 0.2 cents declared a year ago.
Shares of Second Chance Properties are changing hands at S$0.26 now. This translates to a price-to-book ratio of 0.75 and a dividend yield of 1.2%.
Has a direct underground link to the newly opened DTL Rochor (DT13) MRT station been planned for by LTA? If there is this possibility, then the potential redevelopment gains of SLS becomes much greater.
Hi Guys!
Second chance Stock is a Hidden Gem. Sim Lim Square potential for en bloc.
These malls were built 20 to 30 years ago, and now with the advent of e-commerce, they have lost, relevance and customer base. Sim Lim Square and City Plaza near Paya Lebar MRT station are potential.
Second Chance Properties, which is run by former presidential hopeful Salleh Marican, has 12 units at Sim Lim Square and 22 at City Plaza. Mr Salleh told The Straits Times yesterday that he supports both the efforts to sell en bloc:
Seems like this little run-up is for the Sim Lim Square units held, instead of City Plaza' s.
http://www.straitstimes.com/business/property/sim-lim-square-forms-committee-in-first-attempt
Yes , I saw the denial by Marican as well. So today run up could be some ploys to lure warrant holders to convert. Just my speculations.
Wind22i ( Date: 12-Oct-2017 18:40) Posted:
Earlier the coy already deny there is any en bloc..
Before en bloc ..they need at least 30 % of owner agree....thus far they dont even have any agreement yet.. :) |
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Earlier the coy already deny there is any en bloc..
Before en bloc ..they need at least 30 % of owner agree....thus far they dont even have any agreement yet.. :)
I am quite surprised Marican earlier did not PRETEND to want to sell his units enbloc, thereby driving up the market cap of his company to $500 million, in order to qualify for EP. He wasted one holden opportunity. Maybe it shows he got itegrity.
Imagine if he really wanted to sell his shop units enbloc, then his stock price would have run up much earlier, like a few months ago, then his Second Chance market cap would be $500 mio plus minus, then he would qualiify as EP. Won' t he want to do that?
The fact is that it did not run up a few months ago until now.
The problem with Second Chance is that Mohamad Saleh Marican has recently openly denied trying to sell his city plaza units enbloc, So maybe he really didnt want to sell yet. Hard to tell.
HappyInvestor22 ( Date: 12-Oct-2017 15:47) Posted:
But with the en-block process typically taking up to at least a year and factoring in the probability of success, what' s your take and tp on it?
lifeisgood ( Date: 12-Oct-2017 11:02) Posted:
Now every stock that has a property portfolio is getting revalued. The discount to RNAV will be substantially lowered or disappear altogether. When property market is hot, some will start to trade above their RNAVs.
Second chance has a lot of hidden assets. Time for it to fly |
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But with the en-block process typically taking up to at least a year and factoring in the probability of success, what' s your take and tp on it?
lifeisgood ( Date: 12-Oct-2017 11:02) Posted:
Now every stock that has a property portfolio is getting revalued. The discount to RNAV will be substantially lowered or disappear altogether. When property market is hot, some will start to trade above their RNAVs.
Second chance has a lot of hidden assets. Time for it to fly!
nstcsg ( Date: 12-Oct-2017 10:39) Posted:
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Now every stock that has a property portfolio is getting revalued. The discount to RNAV will be substantially lowered or disappear altogether. When property market is hot, some will start to trade above their RNAVs.
Second chance has a lot of hidden assets. Time for it to fly!
nstcsg ( Date: 12-Oct-2017 10:39) Posted:
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en-bloc fever?
