Executive Summary
Second Chance Properties Ltd, an investment holding company, engages in the retail of gold and jewelries, and ready-made garments in Singapore and Malaysia. More Details
Risk Analysis
Snowflake Analysis
Excellent balance sheet and overvalued.
Share Price & News
How has Second Chance Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 528 is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 9% a week.
Volatility Over Time: 528's weekly volatility (9%) has been stable over the past year.
Market Performance
7 Day Return
5.6%
528
-0.5%
SG Specialty Retail
1.8%
SG Market
1 Year Return
-15.6%
528
0.1%
SG Specialty Retail
-13.7%
SG Market
Return vs Industry: 528 underperformed the SG Specialty Retail industry which returned 0.1% over the past year.
Return vs Market: 528 underperformed the SG Market which returned -13.7% over the past year.
Shareholder returns
| 528 | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.6% | -0.5% | 1.8% |
| 30 Day | 22.6% | 6.6% | 15.2% |
| 90 Day | 9.2% | 9.2% | 9.9% |
| 1 Year | -13.4%-15.6% | 5.5%0.1% | -8.9%-13.7% |
| 3 Year | -18.8%-24.0% | -0.4%-11.2% | -11.5%-22.5% |
| 5 Year | -31.2%-43.3% | -16.6%-27.3% | 10.8%-9.6% |
Long-Term Price Volatility Vs. Market
How volatile is Second Chance Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 days ago | Simply Wall St
Could The Second Chance Properties Ltd (SGX:528) Ownership Structure Tell Us Something Useful?2 weeks ago | Simply Wall St
Are Second Chance Properties's (SGX:528) Statutory Earnings A Good Reflection Of Its Earnings Potential?1 month ago | Simply Wall St
Should You Be Worried About Second Chance Properties' (SGX:528) Returns On Capital?Valuation
Is Second Chance Properties undervalued compared to its fair value and its price relative to the market?
32.29x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: 528 (SGD0.19) is trading above our estimate of fair value (SGD0.07)
Significantly Below Fair Value: 528 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 528 is poor value based on its PE Ratio (32.3x) compared to the SG Specialty Retail industry average (12.1x).
PE vs Market: 528 is poor value based on its PE Ratio (32.3x) compared to the SG market (14.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate 528's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: 528 is good value based on its PB Ratio (0.6x) compared to the SG Specialty Retail industry average (0.8x).
Next Steps
Future Growth
How is Second Chance Properties forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
22.4%
Forecasted Retail industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Second Chance Properties has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine Second Chance Properties's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Second Chance Properties competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Retail industry.
Past Performance
How has Second Chance Properties performed over the past 5 years?
-12.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 528 has a large one-off loss of SGD5.1M impacting its August 31 2020 financial results.
Growing Profit Margin: 528's current net profit margins (18.6%) are higher than last year (15.5%).
Past Earnings Growth Analysis
Earnings Trend: 528's earnings have declined by 12.3% per year over the past 5 years.
Accelerating Growth: 528's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 528 had negative earnings growth (-6.7%) over the past year, making it difficult to compare to the Specialty Retail industry average (-4.9%).
Return on Equity
High ROE: 528's Return on Equity (1.8%) is considered low.
Next Steps
Financial Health
How is Second Chance Properties's financial position?
Financial Position Analysis
Short Term Liabilities: 528's short term assets (SGD44.6M) exceed its short term liabilities (SGD34.5M).
Long Term Liabilities: 528's short term assets (SGD44.6M) exceed its long term liabilities (SGD47.0K).
Debt to Equity History and Analysis
Debt Level: 528's debt to equity ratio (12.3%) is considered satisfactory.
Reducing Debt: 528's debt to equity ratio has reduced from 34.7% to 12.3% over the past 5 years.
Debt Coverage: 528's debt is not well covered by operating cash flow (17.6%).
Interest Coverage: 528's interest payments on its debt are well covered by EBIT (32.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Second Chance Properties's current dividend yield, its reliability and sustainability?
2.37%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 528's dividend (2.37%) isn’t notable compared to the bottom 25% of dividend payers in the SG market (2.37%).
High Dividend: 528's dividend (2.37%) is low compared to the top 25% of dividend payers in the SG market (5.14%).
Stability and Growth of Payments
Stable Dividend: 528's dividend payments have been volatile in the past 10 years.
Growing Dividend: 528's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (76.5%), 528's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
21.2yrs
Average board tenure
CEO
Mohamed Salleh Marican (71 yo)
45.42yrs
Tenure
S$627,163
Compensation
Mohamed Salleh s/o Kadir Mohideen Saibu Maricar is the Founder of Second Chance Properties Ltd. and serves as its Chief Executive Officer since June 1975 and also served as its Executive Chairman since Nov...
CEO Compensation Analysis
Compensation vs Market: Mohamed Salleh's total compensation ($USD468.86K) is about average for companies of similar size in the SG market ($USD388.00K).
Compensation vs Earnings: Mohamed Salleh's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 45.42yrs | S$627.16k | 68.09% SGD 97.7m | |
| Executive Director | 33.67yrs | S$207.14k | 0.58% SGD 830.5k | |
| Deputy CEO & Executive Director | 33.67yrs | S$466.34k | 0.83% SGD 1.2m | |
| Independent Non-Executive Director | 8.67yrs | S$35.68k | 0.14% SGD 197.6k | |
| Independent Non-Executive Director & Member of Advisory Panel | 6.92yrs | S$33.68k | 0.0031% SGD 4.4k | |
| Chairman of Advisory Panel & Independent Non-Executive Chairman | 0.25yr | S$41.68k | 0.066% SGD 95.0k |
21.2yrs
Average Tenure
64.5yo
Average Age
Experienced Board: 528's board of directors are seasoned and experienced ( 21.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Second Chance Properties Ltd's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Second Chance Properties Ltd
- Ticker: 528
- Exchange: SGX
- Founded: 1975
- Industry: Apparel Retail
- Sector: Retail
- Market Cap: S$143.502m
- Shares outstanding: 755.27m
- Website: https://www.secondchance.com.sg
Location
- Second Chance Properties Ltd
- No. 04-22 Tanjong Katong Complex
- 845 Geylang Road
- Singapore
- 400845
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 528 | SGX (Singapore Exchange) | Yes | Ordinary Shares | SG | SGD | Jan 1997 |
Biography
Second Chance Properties Ltd, an investment holding company, engages in the retail of gold and jewelries, and ready-made garments in Singapore and Malaysia. It also holds and trades in bonds and equity sec...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/30 11:12 |
| End of Day Share Price | 2020/11/30 00:00 |
| Earnings | 2020/08/31 |
| Annual Earnings | 2020/08/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.