Second Chance   

Second Chance Properties - En Bloc &#128077

Is it wrt can sell but cannot convert ?....ex at 25c but usually expired worthless for the last batch wrt.

SmallSmall      ( Date: 17-Feb-2020 11:21) Posted: 3 Year no time value ah? This warrant is European style. Cannot convert till 3 months before expiry. For info. DYODD SmallSmall      ( Date: 11-Feb-2020 09:16) Posted: New bonus warrants llisted. Old ones delisted. Don' t sell wrongly.

 

Mohamed Salleh S/O Kadir Mohideen Saibu Maricar keep buying the mother shares the last few weeks but price not moving.
If the company can monetise their properties holdings at Sim Lim and City Plaza, the shares should outperform and the warrants would be pulled up along (even though they are European style)
Vested some warrants (can sit for 3 years) to write off or huat :)

 

Could be major shareholder selling the warrants

SmallSmall      ( Date: 17-Feb-2020 11:21) Posted: 3 Year no time value ah? This warrant is European style. Cannot convert till 3 months before expiry. For info. DYODD SmallSmall      ( Date: 11-Feb-2020 09:16) Posted: New bonus warrants llisted. Old ones delisted. Don' t sell wrongly.

 

3 Year no time value ah? This warrant is European style. Cannot convert till 3 months before expiry.
For info. DYODD

SmallSmall      ( Date: 11-Feb-2020 09:16) Posted: New bonus warrants llisted. Old ones delisted. Don' t sell wrongly.

 

New bonus warrants llisted. Old ones delisted. Don' t sell wrongly.

 

Thanks Veteran, for the explaination

 

You need to convert to main share before it expire on 23 Jan 2020 and the conversion price is 25 cents per share or sell it before it expired.

abcinc      ( Date: 08-Feb-2020 15:11) Posted: Hey Guys, Can I check on something, previously when 2nd chance issue the bonus warrant, i did not subscribe, but I just realized my current owning of 2nd chance shares has been removed from my CDP, any kind soul can explain to me why? 2NDCHANCEW200123 Balance B/F 400,000 30/01/2020 Securities Expired -400,000 Thank you so much

 

Hey Guys,

Can I check on something, previously when 2nd chance issue the bonus warrant, i did not subscribe, but I just realized my current owning of 2nd chance shares has been removed from my CDP, any kind soul can explain to me why?

2NDCHANCEW200123
Balance B/F 400,000
30/01/2020 Securities Expired -400,000

Thank you so much

 

Second Chance Properties 1Q net profit surges to $2.12 mil on absence of fair value loss

 

SINGAPORE (Dec 27): Second Chance Properties, the property owner and retailer of gold ornaments and  baju kurung, reported a net profit of $2.12 million in 1QFY2019 ended November, versus t

 

En bloc sale proceeding.  Hope for +ve news n SD in a few mths .....

Qanghoo      ( Date: 21-Mar-2019 11:25) Posted: Pretty positive news.  If embloc passes, likely have nice SD ..... SmallSmall      ( Date: 21-Mar-2019 09:49) Posted: Second Chance has 12 units.   1 Rochor Canal Road #05-36 Sim Lim Square   1 Rochor Canal Road #05-53 Sim Lim Square   1 Rochor Canal Road #05-54 Sim Lim Square   1 Rochor Canal Road #05-60 Sim Lim Square   1 Rochor Canal Road #05-61 Sim Lim Square   1 Rochor Canal Road #05-62 Sim Lim Square   1 Rochor Canal Road #05-63 Sim Lim Square   1 Rochor Canal Road #05-64 Sim Lim Square   1 Rochor Canal Road #05-65 Sim Lim Square   1 Rochor Canal Road #05-72 Sim Lim Square   1 Rochor Canal Road #05-73 Sim Lim Square   1 Rochor Canal Road #05-74 Sim Lim Squar

 

Pretty positive news.  If embloc passes, likely have nice SD .....

SmallSmall      ( Date: 21-Mar-2019 09:49) Posted: Second Chance has 12 units.   1 Rochor Canal Road #05-36 Sim Lim Square   1 Rochor Canal Road #05-53 Sim Lim Square   1 Rochor Canal Road #05-54 Sim Lim Square   1 Rochor Canal Road #05-60 Sim Lim Square   1 Rochor Canal Road #05-61 Sim Lim Square   1 Rochor Canal Road #05-62 Sim Lim Square   1 Rochor Canal Road #05-63 Sim Lim Square   1 Rochor Canal Road #05-64 Sim Lim Square   1 Rochor Canal Road #05-65 Sim Lim Square   1 Rochor Canal Road #05-72 Sim Lim Square   1 Rochor Canal Road #05-73 Sim Lim Square   1 Rochor Canal Road #05-74 Sim Lim Square SmallSmall      ( Date: 21-Mar-2019 09:29) Posted: SINGAPORE - Sim Lim Square, Singapore' s gadget hub in Rochor Canal Road, is set to enter the collective sale market after more than 80 per cent of its owners consented to the sale. The figures, 80.82 per cent by share value and 81.43 per cent by strata area, were confirmed on Tuesday (March 19). This comes after the  initial asking price of $1.1 billion  was raised to $1.3 billion on Feb 1. The aim is to put the site for tender by the end of next month, said marketing agent SLP Scotia, which declined to reveal the reserve price. The move comes on the back of the transaction of freehold Golden Wall Centre, also located in Rochor. The site was  sold at $276.2 million ($2,331 per sq ft per plot ratio) last November. The chairman of Sim Lim Square' s collective sale committee (CSC), Mr Vikas Gupta, explained the higher asking price. " The consensus was that the market was doing better than when we first decided on the asking price of $1.1 billion early last year," he said.     " We saw transactions like Golden Wall and we believe we are a better site with MRT connection as well as a square plot with two main roads. So our price is quite a competitive one," added Mr Gupta, 31, who is manager of Sim City Specialty Group, which owns 40 units at the six-storey mall. Mr Gupta said he felt great relief that the 80 per cent has been achieved. " It' s been almost two years since the (collective sale) committee was set up, and there were a lot of owners who were doubting if we could do it at first. But even the initial doubters supported us in the end. Some were surprised how we got the 80 per cent." He said that more details on the land rate and tender will be made known in about six weeks. Property expert Chris Koh, director at real estate consultancy Chris International, said the question is whether developers will be interested. " There are a lot of en-bloc projects raising prices to get the owners to sign. But it' s not so much the asking prices but rather whether developers will bite," he said. " Developers are getting picky and have a fixed budget." However, Mr Koh added: " Despite this, I' m optimistic (for Sim Lim Square) because of the location, as sites in this area are rarely available." The 99-year leasehold building with 492 units was completed in 1987. It has a land size of 7,260 sq m.

 

Second Chance has 12 units.
 
1 Rochor Canal Road #05-36 Sim Lim Square
  1 Rochor Canal Road #05-53 Sim Lim Square
  1 Rochor Canal Road #05-54 Sim Lim Square
  1 Rochor Canal Road #05-60 Sim Lim Square
  1 Rochor Canal Road #05-61 Sim Lim Square
  1 Rochor Canal Road #05-62 Sim Lim Square
  1 Rochor Canal Road #05-63 Sim Lim Square
  1 Rochor Canal Road #05-64 Sim Lim Square
  1 Rochor Canal Road #05-65 Sim Lim Square
  1 Rochor Canal Road #05-72 Sim Lim Square
  1 Rochor Canal Road #05-73 Sim Lim Square
  1 Rochor Canal Road #05-74 Sim Lim Square

SmallSmall      ( Date: 21-Mar-2019 09:29) Posted: SINGAPORE - Sim Lim Square, Singapore' s gadget hub in Rochor Canal Road, is set to enter the collective sale market after more than 80 per cent of its owners consented to the sale. The figures, 80.82 per cent by share value and 81.43 per cent by strata area, were confirmed on Tuesday (March 19). This comes after the  initial asking price of $1.1 billion  was raised to $1.3 billion on Feb 1. The aim is to put the site for tender by the end of next month, said marketing agent SLP Scotia, which declined to reveal the reserve price. The move comes on the back of the transaction of freehold Golden Wall Centre, also located in Rochor. The site was  sold at $276.2 million ($2,331 per sq ft per plot ratio) last November. The chairman of Sim Lim Square' s collective sale committee (CSC), Mr Vikas Gupta, explained the higher asking price. " The consensus was that the market was doing better than when we first decided on the asking price of $1.1 billion early last year," he said.     " We saw transactions like Golden Wall and we believe we are a better site with MRT connection as well as a square plot with two main roads. So our price is quite a competitive one," added Mr Gupta, 31, who is manager of Sim City Specialty Group, which owns 40 units at the six-storey mall. Mr Gupta said he felt great relief that the 80 per cent has been achieved. " It' s been almost two years since the (collective sale) committee was set up, and there were a lot of owners who were doubting if we could do it at first. But even the initial doubters supported us in the end. Some were surprised how we got the 80 per cent." He said that more details on the land rate and tender will be made known in about six weeks. Property expert Chris Koh, director at real estate consultancy Chris International, said the question is whether developers will be interested. " There are a lot of en-bloc projects raising prices to get the owners to sign. But it' s not so much the asking prices but rather whether developers will bite," he said. " Developers are getting picky and have a fixed budget." However, Mr Koh added: " Despite this, I' m optimistic (for Sim Lim Square) because of the location, as sites in this area are rarely available." The 99-year leasehold building with 492 units was completed in 1987. It has a land size of 7,260 sq m.

 

SINGAPORE - Sim Lim Square, Singapore' s gadget hub in Rochor Canal Road, is set to enter the collective sale market after more than 80 per cent of its owners consented to the sale.

The figures, 80.82 per cent by share value and 81.43 per cent by strata area, were confirmed on Tuesday (March 19). This comes after the  initial asking price of $1.1 billion  was raised to $1.3 billion on Feb 1.

The aim is to put the site for tender by the end of next month, said marketing agent SLP Scotia, which declined to reveal the reserve price.

The move comes on the back of the transaction of freehold Golden Wall Centre, also located in Rochor. The site was  sold at $276.2 million ($2,331 per sq ft per plot ratio) last November.

The chairman of Sim Lim Square' s collective sale committee (CSC), Mr Vikas Gupta, explained the higher asking price.

" The consensus was that the market was doing better than when we first decided on the asking price of $1.1 billion early last year," he said.

" We saw transactions like Golden Wall and we believe we are a better site with MRT connection as well as a square plot with two main roads. So our price is quite a competitive one," added Mr Gupta, 31, who is manager of Sim City Specialty Group, which owns 40 units at the six-storey mall.

Mr Gupta said he felt great relief that the 80 per cent has been achieved.

" It' s been almost two years since the (collective sale) committee was set up, and there were a lot of owners who were doubting if we could do it at first. But even the initial doubters supported us in the end. Some were surprised how we got the 80 per cent."

He said that more details on the land rate and tender will be made known in about six weeks.

Property expert Chris Koh, director at real estate consultancy Chris International, said the question is whether developers will be interested.

" There are a lot of en-bloc projects raising prices to get the owners to sign. But it' s not so much the asking prices but rather whether developers will bite," he said. " Developers are getting picky and have a fixed budget."

However, Mr Koh added: " Despite this, I' m optimistic (for Sim Lim Square) because of the location, as sites in this area are rarely available."

The 99-year leasehold building with 492 units was completed in 1987. It has a land size of 7,260 sq m.

 

Hosay liao.... Sim Lim Sq enbloc $1.1b coming.
second chance potentially $40mil profits 

 

City Plaza owners make collective sale attempt - across  the road from the future Paya Lebah Quater and ONE KM Mall. " We are making a final decision on the appointment of a consultant  and lawyer and will make an announcement soon," says Derrick Chan, chairman of the collective sale committee. 

Built in  1981, the  18-storey freehold mixed-use development has a total of 531 units (465 strata retail and 66 residential apartments). So far, 70% percent of the owners have agreed to the sale, says Chan.

 

Commercial En Bloc News 2017
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Tanglin Shopping Centre to make third bid to sell en bloc, Latest ...

 

appleyum  wrote:

Sim Lim Square forms collective sale committee

Gadget central Sim Lim Square is aiming to get on the collective sale bandwagon after forming a sales committee.

The six-storey mall in Rochor Canal Road is making its first collective sale attempt amid declining footfall in recent years, industry observers said. Part of that is due to the unsavoury headlines in 2014 over unscrupulous sales tactics by rogue merchants, but online retail and newer outlets have also taken a toll.

Mr Vikas Gupta, chairman of Sim Lim Square' s collective sale committee, said it is looking to appoint a marketing agent and a lawyer. The 99-year leasehold building with around 500 units was completed in 1983 and has a land area of 7,260 sq m.
ZACD Group executive director Nicholas Mak noted that the mall has seen better times.

" Rentals have been dropping, and the owners of these commercial properties may be trying now because they saw the successful conclusion of several residential en blocs," he said.

Some of these malls were built 20 to 30 years ago, and now with the advent of e-commerce, they have lost their lustre, relevance and customer base."
City Plaza, near Paya Lebar MRT station, could join Sim Lim Square on the collective sale market. The 18-storey freehold building with 450 units, including 66 apartments, is aiming to form a collective sale committee at a meeting on Nov 1.

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 efforts.
He said: " Both malls are struggling because of competition from newer malls and online retail. The owners should be happy if there is an en bloc opportunity. But be realistic, because if you ask too high a price, nobody will pay."

Date: 12th Oct 2017

Link -  http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/sim-lim-square-sold-off-due-jover-chew-online-competition-~-5705408-2.html

HendriJB      ( Date: 04-Dec-2017 14:20) Posted: Stocks to watch: Second Chance, because of Sim Lim Square and City Plaza. Second Chance: Its properties arm has reported a 72.32 per cent jump in net profit to S$5.4 million in the three months ended May 31, with its bottom line lifted after the disposal of certain securities. The third quarter also saw a 320 per cent jump in the group' s other income to S$2.8 million. This profit was recorded after the group accepted a cash offer on the delisting of shares in a Singapore-listed company. (News out June 30th, 2017).   About  Second Chance Second Chance Properties Ltd is a Singapore-based investment holding company. The Company is engaged in retailing of ready-made garments, holding of property as an investment for rental income, investing in equities, and trading in bonds and equities. The Company manages and monitors the business in the two geographic areas: Singapore and Malaysia. In Malaysia, the Company is engaged in the sale of apparel, while in Singapore, the Company is engaged in the sale of apparel, gold and jewelry, investment dealing and rental of investment properties. Its investment properties include Retail spaces in Singapore, Office buildings in Singapore and Retail spaces in Malaysia. The Company operates Mega First Lady store in Kuala Lumpur, Malaysia. The Company' s property portfolio includes 810 Geylang Road #01-43 City Plaza, 810 Geylang Road #01-46 City Plaza and 810 Geylang Road #01-47 City Plaza. The Company' s subsidiary, Golden Chance Goldsmith Pte Ltd, is engaged in the retail of gold and jewelry.

 

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Stocks to watch: Second Chance, because of Sim Lim Square and City Plaza.

Second Chance: Its properties arm has reported a 72.32 per cent jump in net profit to S$5.4 million in the three months ended May 31, with its bottom line lifted after the disposal of certain securities. The third quarter also saw a 320 per cent jump in the group' s other income to S$2.8 million. This profit was recorded after the group accepted a cash offer on the delisting of shares in a Singapore-listed company. (News out June 30th, 2017).
 

 

SECOND CHANCE: CEO Mohd Salleh  said on October 4th, 2017

1. Sim Lim Square: Second Chance Properties owns 12 retail shops there (aggregate value: about S$23.1 million), having sold 10 shops in recent years as prices rose. 

Subsidiary proprietors representing at least 20% of the total share value in Sim Lim Square have " recently agreed" to appoint a sales committee for an en-bloc sale.   

Ultimately, an en-bloc sale can only go through if there is at least 80% support from subsidiary proprietors  - and if there is a buyer at the asking price.

Sim Lim Square is attractive for redevelopment, in part because it is just a few minutes walk from an MRT station (Rochor). 

Market prices of Sim Lim Square units have gone up in recent years but, ironically, rental rates have dropped significantly in line with the decline in the retail scene in Singapore.


2.  City Plaza:    Second Chance owns 17 retail shops there. 

In the past, there have been a few attempts at an en-bloc sale. There is fresh interest in doing so currently, and what' s  needed as a first step is the support of at least 20% of the subsidiary proprietors (in writing). 

In addition, the building' s plot ratio has been fully achieved. However, it might be possible to apply to the government for a higher plot ratio as the site is close to  a MRT  station (Paya Lebar).

Ultimately, any en-bloc sale can only succeed if property giant City Developments - which completed the building of City Plaza in 1980 -- supports it. CityDev owns 30% of the total share value of City Plaza.

Written by  Leong Chan Teik