Adsense 970

Second Chance Properties Ltd

I first entered this position in March 2013. The entry post was here.

Over this period, i received $340 worth of dividends.

The Company announced on 6 Feb that it is going to dispose the majority of its properties.

The announcement is here.

Since the main investment thesis of mine was to achieve a yield of 7%-8%, the divestment means that the original thesis is no longer valid as the Company will not be able to receive a stable income. There is also uncertainty in how the sale proceeds will be divested.

In this regard, i sold my position in Second Chance today. The return (including the yield) in IRR terms is around 18%.

Happy SRSing.

2 comments:

  1. I reckon the company don't deserve a Second Chance from you.
    Hahaha.

    Regards,
    SG Wealth Builder (www.sgwealthbuilder.com)

    ReplyDelete
  2. Haha only when it proves that I should take a second look :-P

    ReplyDelete