I initiated a small position at Second Chance today.
For those who are new to Second Chance, its main core business, led by the great founder and CEO - Mohamed Salleh are mainly in the Retailing of Apparel, Retailing of Gold Jewellery and Property Investment.
The main attractiveness of this stock which I think is valid:
- Mohamed Salleh - I like the way how he runs the company. He is both conservative and aggressive when he needs to. He is also shareholders and staff friendly. For instance, he banned his management staff from entering the casino as he thought it was harmful to them. Both he and his family members owned almost 80% of the company.
- Great dividend payout ~ 7% and low dividend payout ratio ~ reasonable level of 50% on average.
- Clear plans of the outlook - Short term: Plans to expand its "First Lady" retail business especially in ...
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