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Tag: Second Chance Properties

  • 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

  • 2nd Chance CEO Mohamed Salleh Marican: I Hope To Run For President

    2nd Chance CEO Mohamed Salleh Marican: I Hope To Run For President

    The founder and chief executive officer of Second Chance Properties, Mr Mohamed Salleh Marican, 67, has said he hopes to run for president.

    He told The Straits Times in an email on Wednesday (May 31) that he will be collecting the application forms required to contest the presidential election in September.

    Mr Mohamed Salleh’s name had been bandied about in recent weeks as a potential candidate for the upcoming election, which will be reserved for Malay candidates. His company is the first owned by a Malay/Muslim to be listed on the Singapore Exchange.

    “It is encouraging to know that many have considered me as a potential candidate,” he said.

    “The short answer is that, I believe I have done well for myself in business and would like to step up and give back to society in a much larger way. The position and influence of the Elected President will have a great impact on whatever activities he or she choose to promote.”

    He added that he “can also fulfill the call of most Singaporeans who desire a truly independent Elected President, one who is untainted by party politics”.

    Under changes to the Constitution approved last November, candidates from the private sector must have been the chief executive of a company with at least $500 million in shareholders’ equity, on average, for the most recent three years.

    Second Chance Properties’ shareholder equity was between $254.3 million and $263.25 million in the past three financial years, which is lower than this requirement.

    However, the Presidential Elections Committee has the discretion to certify that a candidate who does not automatically meet the criteria can stand, if it is satisfied that he has the experience and ability to effectively carry out the functions and duties of the office of the President.

     

    Source: www.straitstimes.com