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Qanghoo Supreme	10-May-2019 19:45        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Right.  If privatise must use own $$$, not $$$ from coy. bicycle      ( Date: 10-May-2019 19:42) Posted: There are some issues with privatisation deal. 1. they cant use company money to privatise. D2 need to leverage on their personal assets to get financing to get it done, which is tough in current scenario as their share cant be pledged 2. they can do share-buy back though, up to 55mil share. That will cost company $63mil at current price. 3. D2 own about 40%, if they reach max share buy-back, can mop up another 10%, that leaves about 50% public free float. 4. at $1 GO, PE is about 8x. That means D2 pay you 8x eps to take it private. They need to have high confidence the company can earn back the money within next 8 yrs. In MLM biz, its kind of risky on their part. 5. After privatisation, its unlikely they can list in HK for next 5 yrs because HKSE will probably reject its application
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bicycle Member	10-May-2019 19:42        bicycle About Contact  Quote this Post!
x 0   x 0  Alert Admin	There are some issues with privatisation deal. 1. they cant use company money to privatise. D2 need to leverage on their personal assets to get financing to get it done, which is tough in current scenario as their share cant be pledged 2. they can do share-buy back though, up to 55mil share. That will cost company $63mil at current price. 3. D2 own about 40%, if they reach max share buy-back, can mop up another 10%, that leaves about 50% public free float. 4. at $1 GO, PE is about 8x. That means D2 pay you 8x eps to take it private. They need to have high confidence the company can earn back the money within next 8 yrs. In MLM biz, its kind of risky on their part. 5. After privatisation, its unlikely they can list in HK for next 5 yrs because HKSE will probably reject its application
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Leehonghng Member	10-May-2019 19:41        Leehonghng About Contact  Quote this Post!
x 0   x 0  Alert Admin	Do you think they are the OK company they are the OK professional sales person ??? Indeed, bwi is operating well(?) under the command of two Drs👩 ‍ 🎓 👩 ‍ 🎓 ????? warrenbuffet2018      ( Date: 10-May-2019 18:48) Posted: New discovery, BWI may bring down by BIL. Actually just think what is the professional of BWI? For Apple, their professional is technology,  For BWI, they are sales person so they confirm good in talking, if a group of them also cannot reply question instantly, indirectly they already tell you the answer.   Qanghoo      ( Date: 10-May-2019 17:18) Posted: The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. I am dead sure that if this bil thing is true, they are in for trouble with the regulators.
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Qanghoo Supreme	10-May-2019 19:37        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Prpoerty developers who sell properties developed by them to family members, these have to be disclosed.  Guocoland' s joint purchase of Pacific Mansion with Hong Leong Holdings has to be discolsed as an ' interested' person transaction.  So in the case of the main customer of BWI, the main customer is clearly an ' interested' person and is therefore disclosable.  bayduck      ( Date: 10-May-2019 17:22) Posted: I think they should. I mean it&rsquo s not even that hard to disclose the info right. I remember reading annual reports where the company voluntarily disclosed that some in-laws or cousins are working in the company as a lowly ranked staff. To me, when it comes to corporate governance, it always better to err on side of caution. michaeltan      ( Date: 10-May-2019 17:14) Posted: I agreed. as far as the integrity issue is concern, a good gorvernance practice is to disclose it. Now, you have more that 50 franchisees and do you need to make announcement to the public shareholders any of management relatives working with the franchisees
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Superkilat Elite	10-May-2019 19:35        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	What if they cannot reply by today? Anway they have been suspended. Any different?
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triphopper Senior	10-May-2019 19:29        triphopper About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why does it take so long to just answer 4 simple questions? Unless it is not that simple after all. And why is that so?
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Shifu8888 Supreme	10-May-2019 19:17        Shifu8888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Privatisation is the best route and then re list in HK. Not expensive to do it. Number of shares: 540m Public float: 270m maximum Privatisation price: $1 Cost $270m Cash at bank: $160m (net Of loan) Net privatisation Cost: $110m Assuming profit is $40m List it on HK, easily 20 times PE, will worth $800m market cap. I will do it if I were them. Let the share price drop further. Ot will be even cheaper for them.
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warrenbuffet2018 Member	10-May-2019 19:05        warrenbuffet2018 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Come on, you think BWI worth $1+? Do you think they got money to delist the share? You think they so stupid to buy the company at $1+? Btw did you see BWI mangement buy share with their money yesterday? What i see is BWI management is very concern of the share price but using Company money to support the share price. There must be a reason why they so concern of the share price which i think it will make know to public later. On 9th May 2019 the share price shoot up to $1.79 think mostly buy up by them. Too bad, even they throw in $8 millions, the share price still drop like falling knief. AT this stage, the share price is move towards its fair value which is $0.20-0.30   zillion      ( Date: 10-May-2019 18:49) Posted: Looks like privatisation aka delisting akan datang. First lift off suspension, let mkt dictate the right level, halt again for announcement of privatisation. BW has no way out now is to deny this deny that. Om
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zillion Master	10-May-2019 18:49        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	Looks like privatisation aka delisting akan datang. First lift off suspension, let mkt dictate the right level, halt again for announcement of privatisation. BW has no way out now is to deny this deny that. Om
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warrenbuffet2018 Member	10-May-2019 18:48        warrenbuffet2018 About Contact  Quote this Post!
x 0   x 0  Alert Admin	New discovery, BWI may bring down by BIL. Actually just think what is the professional of BWI? For Apple, their professional is technology,  For BWI, they are sales person so they confirm good in talking, if a group of them also cannot reply question instantly, indirectly they already tell you the answer.   Qanghoo      ( Date: 10-May-2019 17:18) Posted: The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. I am dead sure that if this bil thing is true, they are in for trouble with the regulators.   Qanghoo      ( Date: 10-May-2019 16:58) Posted: I am well aware of what has already been stated
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warrenbuffet2018 Member	10-May-2019 18:37        warrenbuffet2018 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Simple question by SGX also take long time to answer. I can forsee their reply will lead to more questions from well prepare GOD. This time SGX give them dead line by today to reply   Sin_Cos_Tan      ( Date: 10-May-2019 17:41) Posted: You should think twice before you put ideas on paper. I like VV' s reports, sharp & Sweet... Part 1.  the company has been engaged in multi--evel marketing in the country, which is illegal. http://valiantvarriors.wixsite.com/home/newletters/best-world-the-worst-investment Part 2. Best World' s Main Import Agent is related to BWL.    Period. http://valiantvarriors.wixsite.com/home/newletters/best-world-s-main-import-agent-is-related-to-bwl   michaeltan      ( Date: 10-May-2019 17:14) Posted: I agreed. as far as the integrity issue is concern, a good gorvernance practice is to disclose it. Now, you have more that 50 franchisees and do you need to make announcement to the public shareholders any of management relatives working with the franchisees
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beng1102 Elite	10-May-2019 18:26        beng1102 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anyone found committed wrong doing, please send all of them to jail and lockup as long as possible.  I only lost a little bit of money and can write-off.  Would these rich people go to jail, I doubt so.  Let' s see what is their  下 场 . Sin_Cos_Tan      ( Date: 10-May-2019 17:52) Posted: Ok, full stop. sbscap      ( Date: 10-May-2019 10:18) Posted:  No point trying to explain to these posts.  Yes!  sbscap, u r right.
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Sin_Cos_Tan Veteran	10-May-2019 17:52        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ok, full stop. sbscap      ( Date: 10-May-2019 10:18) Posted:  No point trying to explain to these posts.  Yes!  sbscap, u r right.
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Sin_Cos_Tan Veteran	10-May-2019 17:41        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	You should think twice before you put ideas on paper. I like VV' s reports, sharp & Sweet... Part 1.  the company has been engaged in multi--evel marketing in the country, which is illegal. http://valiantvarriors.wixsite.com/home/newletters/best-world-the-worst-investment Part 2. Best World' s Main Import Agent is related to BWL.    Period. http://valiantvarriors.wixsite.com/home/newletters/best-world-s-main-import-agent-is-related-to-bwl   michaeltan      ( Date: 10-May-2019 17:14) Posted: I agreed. as far as the integrity issue is concern, a good gorvernance practice is to disclose it. Now, you have more that 50 franchisees and do you need to make announcement to the public shareholders any of management relatives working with the franchisees? bayduck      ( Date: 10-May-2019 17:02) Posted: But there' s no point disclosing within the group but not to the public shareholders. Since its the shareholders that bear the risk should there be a real conflict of interests, so that information ought to be made public. I understand where you are coming from, and I agree that BW is likely to have complied with the rule (the long one that you just quoted), since BIL is not deemed as an associate IIRC. BW management also does not have shareholding interests or management role in Changsha. But since the spirit of the rule is to disclose relationships that could potentially lead to conflict of interest, BW should have gone above and beyond the letter of the law to disclose to the public that Changsha' s legal rep is the BIL (as alleged by VW). I mean, if I am the shareholder of BW, I would also like to know that a key customer of BW is actually controlled by BW' s management' s BIL right. Then I can assess the risk myself once I know that info. The problem is that the info was not made public, assuming VW is right
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bayduck Member	10-May-2019 17:22        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think they should. I mean it&rsquo s not even that hard to disclose the info right. I remember reading annual reports where the company voluntarily disclosed that some in-laws or cousins are working in the company as a lowly ranked staff. To me, when it comes to corporate governance, it always better to err on side of caution. michaeltan      ( Date: 10-May-2019 17:14) Posted: I agreed. as far as the integrity issue is concern, a good gorvernance practice is to disclose it. Now, you have more that 50 franchisees and do you need to make announcement to the public shareholders any of management relatives working with the franchisees? bayduck      ( Date: 10-May-2019 17:02) Posted: But there' s no point disclosing within the group but not to the public shareholders. Since its the shareholders that bear the risk should there be a real conflict of interests, so that information ought to be made public. I understand where you are coming from, and I agree that BW is likely to have complied with the rule (the long one that you just quoted), since BIL is not deemed as an associate IIRC. BW management also does not have shareholding interests or management role in Changsha. But since the spirit of the rule is to disclose relationships that could potentially lead to conflict of interest, BW should have gone above and beyond the letter of the law to disclose to the public that Changsha' s legal rep is the BIL (as alleged by VW). I mean, if I am the shareholder of BW, I would also like to know that a key customer of BW is actually controlled by BW' s management' s BIL right. Then I can assess the risk myself once I know that info. The problem is that the info was not made public, assuming VW is right
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Qanghoo Supreme	10-May-2019 17:18        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. I am dead sure that if this bil thing is true, they are in for trouble with the regulators.   Qanghoo      ( Date: 10-May-2019 16:58) Posted: I am well aware of what has already been stated. michaeltan      ( Date: 10-May-2019 16:44) Posted: You read the announcement properly. They have not mentioned about their relationship but merely stated clearly that the Primerly  Import Agent is an independent third party (Changsa). The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. None of the Group, the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent. As part of the initial scope of the Review, PwC will review the independence of the Primary Import Agent. As long as the sales is geneine and strictly follow the company sales policies without any favours. In fact in many big organization, it is perfectly ok in doing business as long as you declare and follow company code of conduct.
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michaeltan Master	10-May-2019 17:14        michaeltan About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	I agreed. as far as the integrity issue is concern, a good gorvernance practice is to disclose it. Now, you have more that 50 franchisees and do you need to make announcement to the public shareholders any of management relatives working with the franchisees? bayduck      ( Date: 10-May-2019 17:02) Posted: But there' s no point disclosing within the group but not to the public shareholders. Since its the shareholders that bear the risk should there be a real conflict of interests, so that information ought to be made public. I understand where you are coming from, and I agree that BW is likely to have complied with the rule (the long one that you just quoted), since BIL is not deemed as an associate IIRC. BW management also does not have shareholding interests or management role in Changsha. But since the spirit of the rule is to disclose relationships that could potentially lead to conflict of interest, BW should have gone above and beyond the letter of the law to disclose to the public that Changsha' s legal rep is the BIL (as alleged by VW). I mean, if I am the shareholder of BW, I would also like to know that a key customer of BW is actually controlled by BW' s management' s BIL right. Then I can assess the risk myself once I know that info. The problem is that the info was not made public, assuming VW is right. michaeltan      ( Date: 10-May-2019 16:57) Posted: Perhaps it was already diclosed within the group but not announce it as it cis onsidered as third party of which non of the group  the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent.
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bayduck Member	10-May-2019 17:02        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	But there' s no point disclosing within the group but not to the public shareholders. Since its the shareholders that bear the risk should there be a real conflict of interests, so that information ought to be made public. I understand where you are coming from, and I agree that BW is likely to have complied with the rule (the long one that you just quoted), since BIL is not deemed as an associate IIRC. BW management also does not have shareholding interests or management role in Changsha. But since the spirit of the rule is to disclose relationships that could potentially lead to conflict of interest, BW should have gone above and beyond the letter of the law to disclose to the public that Changsha' s legal rep is the BIL (as alleged by VW). I mean, if I am the shareholder of BW, I would also like to know that a key customer of BW is actually controlled by BW' s management' s BIL right. Then I can assess the risk myself once I know that info. The problem is that the info was not made public, assuming VW is right. michaeltan      ( Date: 10-May-2019 16:57) Posted: Perhaps it was already diclosed within the group but not announce it as it cis onsidered as third party of which non of the group  the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent.  bayduck      ( Date: 10-May-2019 16:49) Posted: They are probably in compliance with the letter of law (since I don' t think BIL is considered related), but not the spirit of law. If a company has integrity, they would understand that the purpose for the law is to ensure fair disclosure of relationships that may potentially create conflicts of interest. Therefore, even if BIL doesn' t fall under the gamut of the law, the relationship should have been disclosed. I don' t follow BW closely, but I think VW is basically attacking them for not disclosing the relationship
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Sin_Cos_Tan Veteran	10-May-2019 17:02        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Precisely, the key problem is  : they have not mentioned about their relationship,.... and further more confirmed that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group..... 躲 躲 藏 藏 , 遮 盖 真 实 ...there must be something fishy going on....LOL michaeltan      ( Date: 10-May-2019 16:44) Posted: You read the announcement properly. They have not mentioned about their relationship but merely stated clearly that the Primerly  Import Agent is an independent third party (Changsa). The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. None of the Group, the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent. As part of the initial scope of the Review, PwC will review the independence of the Primary Import Agent. As long as the sales is geneine and strictly follow the company sales policies without any favours. In fact in many big organization, it is perfectly ok in doing business as long as you declare and follow company code of conduct.      Qanghoo      ( Date: 10-May-2019 16:32) Posted: If this brother in law this is true, then it was a deliberate attempt to not discluse that the main customer is a related party.  It' s a very serious thing.  So, if it comes to light that this is deliberately hidden, can it be possible that the the actual cash position be also qnable
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Qanghoo Supreme	10-May-2019 16:58        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am well aware of what has already been stated. michaeltan      ( Date: 10-May-2019 16:44) Posted: You read the announcement properly. They have not mentioned about their relationship but merely stated clearly that the Primerly  Import Agent is an independent third party (Changsa). The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. None of the Group, the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent. As part of the initial scope of the Review, PwC will review the independence of the Primary Import Agent. As long as the sales is geneine and strictly follow the company sales policies without any favours. In fact in many big organization, it is perfectly ok in doing business as long as you declare and follow company code of conduct.      Qanghoo      ( Date: 10-May-2019 16:32) Posted: If this brother in law this is true, then it was a deliberate attempt to not discluse that the main customer is a related party.  It' s a very serious thing.  So, if it comes to light that this is deliberately hidden, can it be possible that the the actual cash position be also qnable
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