You can all this market timing at its finest or most stupid, but if you have bought a property for investment within this period, you are in direct disagreement with Mr Salleh of Second Chance properties. Announcement here. You can read the rationale for moving 175 mil worth of property to a fund which may next time spin off as well as which properties are involved.

The Group entered the business of investing in properties in 1999-2000. It has held its properties as long term investments and earned steady rental income which became an increasing part of the Group’s revenue and profits over the years. The Group has reaped the benefits manifold over the past 14 years or so in the property investment business. Going forward, the Board thinks that it is prudent to significantly reduce the Group’s exposure to its investments in properties. Additionally, the opportunity to sell ...

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