Tag: CEO

  • Mohamed Salleh Marican – An Inspiration To Investors And Entrepreneurs

    Mohamed Salleh Marican – An Inspiration To Investors And Entrepreneurs

    Truly an inspiration to investors and entrepreneurs alike, Mr Mohamed Salleh Marican (or Mohamed Salleh S/o Kadir Mohideen Saibu Maricar as he is registered at the SGX) is the very embodiment of the epigram, “try and try until you succeed”. Undaunted by a first failed business, Mr Salleh put up what is now Second Chance Properties, and hasn’t looked back since.

    Now the company’s CEO and Executive Chairman as well as its founder, Mr Salleh is also a Spiking Sophisticated Investor. An SGX announcement last January put the post-transaction percentage of his direct and deemed shares of Second Chance Properties at 57.78%, and 8.45% respectively.

    If There’s a Will…

    Mr Salleh began as an entrepreneur in 1974, when he established a menswear tailoring business which he was compelled to shut down soon afterwards. He tried again just five months later by opening Second Chance, sticking to the menswear segment but switching to ready-to-wear retail. His determination paid off, and in less than 10 years, he had four outlets in Singapore.

    By 1988, Mr Salleh had adopted franchising, affordable pricing and a Western fashion image for Second Chance, which enabled him to grow the company to include 18 stores in Singapore and 7 stores in Malaysia.

    Mr Salleh’s first major award proved to be a double-edged sword, as winning created awareness of Second Chance as a local brand. As sales dropped drastically, he decided to change strategies again, and close 21 of his 25 stores. By 1992, he had diversified his business into ladies’ ready-to-wear for Malay women. The new line, dubbed “First Lady”, is still a bestseller today.

    Mr Salleh then followed up First Lady’s success with Golden Chance, which retails gold jewellery. Soon afterwards, during the Asian financial crisis, he again diversified his business to include property, which turned out to be his most successful venture yet. Property now accounts for over 60% of the company’s profits, with rental income being the top contributor.

    Today, Second Chance has over 200 employees working in 50 stores in Singapore and Malaysia. After listing on the SESDAQ in 1997, Second Chance moved to the SGX Main Board in 2004.

    Mr Salleh has since won several other awards, including the Inaugural Malay Businessmen Award from the Singapore Malay Chamber of Commerce and Berita Harian; the Entrepreneurship Excellence Award from Lianhe Zaobao and the Entrepreneurship Development Centre of Nanyang Technological University; the Ernst & Young Entrepreneur of the Year award, and the Best CEO Singapore Corporate Award.

    Mr Salleh in Action

    Mr Salleh’s latest trading activities include increasing 1 million deemed shares of Second Chance Properties at SGD0.25 at the end of last January. A few days before, he had also increased 291,500 deemed Second Chance shares at SGD0.252.

    Follow the investing action of Mr Mohamed Salleh S/o Kadir Mohideen Saibu Maricar at https://spiking.com/v/mohamedsalleh, and track Second Chance Properties’ performance at https://spiking.com/sgx/528-second-chance-properties-ltd.

    Source: https://blog.spiking.com

  • Who Is Mohamed Salleh Marican?

    Who Is Mohamed Salleh Marican?

    Mr. Mohamed Salleh Marican is the Founder of Second Chance Properties Ltd. and serves as its Chief Executive Officer and also served as its Executive Chairman since November 30, 2013.

    Mr. Marican has 33 years of retail business experience. He served for 3 years at National Service and left with the rank of Lieutenant.

    He served as the Chairman of Second Chance Properties Ltd. until December 2007. He has been Executive Director of Second Chance Properties Ltd since August 5, 1986. He serves as an Executive Director of Second Chance Properties Ltd..

    In 1988, he won the inaugural Malay Businessman Award, jointly organized by the Singapore Malay Chamber of Commerce and Berita Harian.

    In 1996, Mr. Marican received the Entrepreneurship Excellence Award that was conferred by Lianhe Zaobao and the Entrepreneurship Development Centre of the Nanyang Technological University.

     

    Source: www.bloomberg.com

  • Tan Kin Lian: I’m Unlikely To Stand In Presidential Elections 2017, Even If I Qualify

    Tan Kin Lian: I’m Unlikely To Stand In Presidential Elections 2017, Even If I Qualify

    Even if the bar is raised for presidential candidates, he is still likely to qualify to stand for office.

    But Mr Tan Kin Lian, 68, is adamant he will not stand in the next Presidential Election (PE).

    Mr Tan, who stood in the 2011 PE, told The New Paper yesterday: “Well, I didn’t get many votes the last time… I don’t see anything that will happen to make me change my mind.

    “I’m sure there are many, many qualified people, so I don’t think there’s any need for me to come forward.”

    The Constitutional Commission, which was tasked by Prime Minister Lee Hsien Loong to review the elected presidency, released its recommendations on Wednesday.

    Among them were:

    • Unbundling the president’s symbolic and custodial roles. An appointed president will play a symbolic role as head of state, while an appointed body of experts could take over the custodial functions;
    • Tightening the eligibility criteria for candidates;
    • Ensuring minority representation by triggering reserved elections; and
    • Requiring the president to consult the Council of Presidential Advisers before exercising his discretion in all fiscal matters touching on Singapore’s reserves, and all public service appointments.

    Mr Tan, the former head of insurance cooperative NTUC Income, received the lowest number of votes – 4.9 per cent – in the 2011 PE, which was won by Dr Tony Tan Keng Yam with 35.2 per cent of the vote.

    Former MP Dr Tan Cheng Bock placed second, followed by former civil servant Tan Jee Say.

    IT CONSULTANCY

    Mr Tan Kin Lian, who now runs his own IT consultancy, said he had hoped for the president’s role to extend beyond its custodial and ceremonial duties.

    Speaking to TNP in his office, he said: “I wanted the president to be more (of) an office for the views of the people to be heard. That’s why I campaigned on the voice of the people, which, I think by now it’s quite clear, is not welcome.

    “That’s the extra reason why I shouldn’t be running. I might get into trouble,” Mr Tan added before breaking into laughter.

    Asked if he felt the president’s role is too narrowly defined or limited, he said he had not read anything in the Constitution that said the president should not be allowed to comment on anything.

    If that is the case, better to make the president’s role a ceremonial one, he said, adding that he was in favour of the commission’s idea to revert to an appointed president and then unbundle the president’s custodial and ceremonial roles.

    “But even a ceremonial president sometimes feels that there is moral duty to speak up. For instance, in Malaysia, the Sultan of Johor spoke out on issues which he thought were important… Even a president without powers should also be allowed to speak out.

    “Unfortunately, not enough people supported my idea,” said Mr Tan, alluding to his poor showing in 2011.

    CONSTITUTION

    Singapore Management University constitutional law expert Jack Lee told TNP that the Constitution does not expressly say the president cannot comment on matters.

    But what it does say is that the powers of the president are split into two categories – those he may exercise in his own discretion over reserves and appointment of public service officers, and those he must act in accordance with the advice of the Cabinet.

    “(In the Constitution, it) sounds like the president can listen to the Cabinet’s advice, but choose not to follow. But legally speaking, it means the president has to follow what the Cabinet says,” Assistant Professor Lee explained.

    This is contrary to what some of the 2011 presidential candidates did. Mr Tan, for instance, said he would introduce state pensions for the elderly, which is a breach of election rules.

    Under the commission’s recommendations, a criminal sanction could be imposed on candidates who breach election rules.

    Asked about this, Mr Tan would only say: “I think it was targeted at me.”

    He declined to comment further.

    To him, the most important is the commission’s recommendation of returning to a system of appointed presidency, and unbundling the president’s roles.

    “I find the current system of elected presidency to be unworkable. Take a look at what happened to (former) president Ong Teng Cheong. He tried to understand what his duty was and tried to fulfil his duty. But he found it so difficult. So it’s unworkable.”

    The late Mr Ong was involved in a dispute with the Cabinet over the access of information regarding Singapore’s financial reserves.

    Mr Tan added that “25 years is a long time to realise that the elected presidency is not working well”.

    “You just cannot carry on because if one day the president decides to act against the wishes of the Government, how do you resolve that? That can be very difficult,” he said.

     

    Source: www.tnp.sg

  • Zulfikar Shariff: What Is The Stand Of Moliah Hashim, Former Mendaki CEO And Current Principal At Princess Elizabeth Primary School, On The Hijab?

    Zulfikar Shariff: What Is The Stand Of Moliah Hashim, Former Mendaki CEO And Current Principal At Princess Elizabeth Primary School, On The Hijab?

    We know that PAP Muslim politicians have consistently defended the government’s discrimination of Muslim women.

    What about leaders of Malay organisations?

    Ms Moliah Hashim is former CEO of Mendaki and currently Principal of Princess Elizabeth Primary School.

    She wears hijab.

    What does she think about allowing other Muslimah to wear hijab at work?

     

     

    Source: Zulfikar Shariff

     

  • New SGX CEO Appointment Welcomed By Industry Players

    New SGX CEO Appointment Welcomed By Industry Players

    Singapore Exchange (SGX) is set to launch a new chapter next month, with homegrown veteran banker Mr Loh Boon Chye taking the helm.

    Industry players said they are optimistic that the new CEO will be able to take the bourse forward, with necessary reform. However they also said he has his work cut out for him, as there are challenges ahead.

    Keppel DC REIT’s IPO on the mainboard last year was Singapore’s second largest in 2014, raising more than S$500 million. As a whole, the IPO market in Singapore has been languishing, and this year, there have been only three listings so far, raising about S$55 million.

    Meanwhile, trading volumes have remained sluggish, with about one billion shares traded daily. Latest numbers from the SGX showed that securities turnover in May on the SGX was S$23 billion, a decline of 2 per cent from a year ago, and a bigger drop of 13 per cent when compared to April.

    Market participants said problems confronting the bourse is structural in nature and Mr Loh will have to engage with more stakeholders to adopt a new approach.

    “He has to probably assemble a good team, with that team he has to then reach out to the different stakeholders that have been actually involved in the past but have been to a large degree marginalised because of what’s happening all around us in Asia,” said Mr Nicholas Teo, market analyst and client education at CMC Markets Singapore.

    “Those are probably the first steps that he has to take and with that with his team with the stakeholders involved, perhaps a new sort of approach can be made in terms of trading, on the secondary market, IPOs for example, trying to invite, engage and try to attract the relevant sort of companies, not just by themselves but also as an industry to be able to bring in an ecosystem.”

    The Society of Remisiers added that the right amount of regulation coupled with a consultative management style could see the bourse charting in the right direction.

    “In terms of the regulation, how you regulate, how you market the products, which direction you promote, even to the tiniest element like the lunch break, all these matter,” said Mr Jimmy Ho, President of The Society of Remisiers.

    “It’s important that SGX or the authorities take a consultative approach to the Singapore stock market. The top-down approach has proven that it doesn’t work. Each time when something is decided and the people on the ground, the front-line soldiers are notified only when all the implementation processes are in place and later you find that there will be a lot of feedback that this cannot work out and in the end you’ve got to go and salvage the situation.”

    Market analysts added that in order to attract more quality IPO listings, the key thrust lies in having a complete set of plans targeted at the entire industry, so as to ensure continuity in the secondary markets.

    They said public education on the specific sector and engagement with the Monetary Authority of Singapore to explore possible tax incentives would also help revive the lacklustre IPO scene.

    Shares of SGX have lost about 10 per cent in value over the past two weeks. On Tuesday, the counter bounced in early trade on news that a new CEO had been named, but it gave up those gains and more, finally closing the day 0.4 per cent in the red, at S$7.90 each.

     

    Source: www.channelnewsasia.com