In its quarterly portfolio update, Second Chance Properties says that its the fair value of its securities for the quarter ended May 2023 has reached $283 million, vs $255 million for the preceding quarter ended Feb 2023.
While it incurred an unrealised fair value loss of $0.09 million in Singapore for the quarter ended May, it sees an unrealised fair value gain of $6.75 million for the same quarter.
During the quarter, it received some $2.26 million worth of dividends, versus $0.52 million for the preceding quarter.
The company, under founder and CEO Mohamed Salleh Marican, has shifted its focus from investing in retail properties to investing in quoted securities, has allocated the bulk of its investments in Hong Kong and China. At 65%, the proportion in Hong Kong and China outstrips 34% it allocates to Singapore.
According to Second Chance in its update on July 10, as at May 31, its top ten holdings are all China stocks.
Its single largest holding, at 4.42%, is China Mobile, followed by CITIC and China CITIC Bank at 4.3% and 4.16% respectively. The fourth largest holding is China Unicome, at 3.69%, followed by the Agricultural Bank of China, at 3.62%.
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Second Chance shares last traded at 22 cents on July 6, down 8.33% year to date.
