This is a continuation of my earlier post on Second Chance Properties Limited stock and you can read the earlier post here. My personal take on the five main revenue-drivers of Second Chance Properties are as follows: 1) Apparel retailing: I am quite surprised to know that 80% of Second Chance’s FY2013 apparel revenue comes from Malaysia through its First Lady stores (which Singapore has too). I believe the “entry barriers” of apparel are not high and with the competitive retail fashion and apparel scene (at least for Singapore too) plus the trend of online shopping, I wonder whether is it easy for Second Chance Properties to sustain its edge in its main business? 2) Gold jewellery retailing: I understand Second Chance Properties’ Golden Chance store is very profitable and it has no plan to open additional stores in both Singapore and Malaysia. Inflation, according to Second Chance Properties is ... ...