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CEO of Second Chance and controlling family of Mewah raise stake in respective firms

The Edge Singapore
The Edge Singapore4/30/2021 06:30 AM GMT+08  • 3 min read
CEO of Second Chance and controlling family of Mewah raise stake in respective firms
CEO of Second Chance Properties' Mohamed Salleh and controlling Cheo family of Mewah Int'l raise stakeholding in respective firms.
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Mohamed Salleh, CEO of Second Chance Properties, has been raising his stake in his company in recent weeks. Most recently, on April 28, he acquired 222,400 shares for 29 cents each, lifting his total interest to 516 million, or 68.63%.

Besides Mohamed, the company has been actively buying back shares too. The most recent transaction was on Feb 23 when it bought back 199,400 shares at 26 cents each. Under the company’s existing share buyback mandate which started on Dec 30, 2020, Second Chance has bought back a total of just over 3.36 million shares, equivalent to 0.4455% of the company’s total.

On March 30, the company reported better earnings for the 1HFY2021 ended Feb 28 of $5 million, up 41.69% from $3.53 million in the year earlier period. Revenue in the same period was up 21.43% y-o-y to $16.4 million.

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