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Superkilat Elite	13-May-2019 20:43        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	A lot of forumers said BWL doing in china is ilegal. Can anyone report to China authority or prefer to hide behind like bonitas hoping this discussion here can alert the authority to arrest them?
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Superkilat Elite	13-May-2019 20:40        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am not saying what they do in china is legal. But legal or not the pasar of sgx. Let china authority to deal with this. You got my point?
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Luckystrike Veteran	13-May-2019 20:39        Luckystrike About Contact  Quote this Post!
x 0   x 0  Alert Admin	This issue is becoming a mess. In the past, SGX has been blamed for not doing its jobs as there have been many saga happened. I believe SGX is treating this issue as a show case to silence all its critics. That is why it pursues this case surprisingly thoroughly.
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nqing87 Supreme	13-May-2019 20:31        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	if it is proven that their agent did mlm, then even if BW can somehow dodge the legal responsibility miraculously, their earnings in china will be impacted and will no longer be sustainable.. so if there is indeed mlm conducted, it will be game over to BW, and we can regard their future earnings in china to be zero Shifu8888      ( Date: 13-May-2019 18:48) Posted: This time round, sgx has done the right thing to suspend it. At least this will spare shortists from further eroding it. And also time is needed to prove the China sales is real. Now that PwC reports to sgx directly, imagine if PwC confirms sales is correct. Then what happens to the price? Will fly off? This is crucial. Important theory: I suspect Bw is engaging and using Primary Import agent as a smokescreen for MLM which they mask it as Direct Selling. Why need PIA? Think harder....if MLM is exposed, it will be the PIA who engaged in this marketing tactic and not Bw. If so, bw usage of PIA is to circumvent the MLM law. The sales is for sure, real, I reckon. Using PIA as a front is a clever move and a safe way to protect BW. I think their intention is noble. Not sure my hypothesis is right or not.
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SmallSmall Supreme	13-May-2019 20:31        SmallSmall About Contact  Quote this Post!
x 0   x 0  Alert Admin	If a foreign bride intentionally married a local guy just to get residency status in Singapore, is it legal? There are loop holes in which people and business try to circumvent the rules before the law catches up with them. Does it make them legal in the first place just because the law has not caught up with them initially? Superkilat      ( Date: 13-May-2019 20:19) Posted: Figures i can understand but not on legality.
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Superkilat Elite	13-May-2019 20:29        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	CLSA ia useless just like other brokerage house coverage. They just echo when the price is going up and run away with target cut to looked smart. I never give a shit to that.
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tonytan44 Supreme	13-May-2019 20:25        tonytan44 About Contact  Quote this Post!
x 0   x 0  Alert Admin	i thought only Bonitas and Valiant Varriors stab the company. now even CLSA also knife the company with a price target of 0.47 tonytan44      ( Date: 09-May-2019 10:58) Posted: Valiant Varriors   an hour ago   2 min   Best World&rsquo s Main Import Agent is related to BWL 1. Early this morning, Best World (BWL) released its reply to research house Bonitas on several points it made about BWL&rsquo s operational, financial and accounting practices. 2. At the heart of the matt     guards80      ( Date: 09-May-2019 10:53) Posted: --- Post Removed by User ---
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Superkilat Elite	13-May-2019 20:19        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Figures i can understand but not on legality.
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kerier Veteran	13-May-2019 20:05        kerier About Contact  Quote this Post!
x 0   x 0  Alert Admin	they are listed on sgx and the public invest based on the set of accounts they present to the world. now the sales figures are suspect, of course sgx has the right to investigate and go after them.
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Superkilat Elite	13-May-2019 19:59        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	So sgx can tekan them just based on one independent legal opinion? China authority never go after them. Let them do what they operate in china. If it is wrong doing, china authority will deal with them.
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fatpanda Supreme	13-May-2019 19:53        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 1  Alert Admin	BWL is registered and listed in Singapore. So, SGX can "tekan" them but not BWL subsidiaries based in mainland China. And for the Chinese authority, Can they be trusted? Superkilat      ( Date: 13-May-2019 19:49) Posted: Actually sgx is doing something beyond its power. Legality should be dealt with by china authority. Who are the sgx to judge if its business is legal or not.
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Superkilat Elite	13-May-2019 19:49        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Actually sgx is doing something beyond its power. Legality should be dealt with by china authority. Who are the sgx to judge if its business is legal or not.
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Sin_Cos_Tan Veteran	13-May-2019 19:39        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	one of the jia jia luck issues.. 2 (iii) the legality of the group' s business model in China SGX RegCo orders independent review of Best World by PwC to be expanded According to the notice signed by June Sim, SGX RegCo' s head of listing compliance, the findings are to be only reported to SGX RegCo, and not to the company' s audit committee as previously agreed. http://www.theedgesingapore.com/sgx-regco-orders-independent-review-best-world-pwc-be-expanded Sin_Cos_Tan      ( Date: 13-May-2019 19:18) Posted: A good move! REPL::Regulatory Actions By SGX::Notice of Compliance   2019-05-13 17:43:20      http://infopub.sgx.com/FileOpen/Best%20World%20International%20-%20Notice%20of%20compliance.ashx?App=Announcement& FileID=559028 PWC should perusal all the  Intercompany Transactions (and not only based on the confirmation letter as done by BW' s auditors EY, I guess) and the Primary Import Agent financial  reports/ tax returns sbumitted to PRC authorities. ******** BWL replied...The Company will also procure the Primary Import Agent to grant PwC access to all necessary records for the period from 1 January 2017 to 31 May 2018  (now is 2015 -2018 as requested by SGX RegCo) for the purpose of PwC' s review of the Group' s sales to the Primary Import Agent during that period. george78      ( Date: 13-May-2019 18:11) Posted: 1) SGX wants PwC to report solely to SGX Regco 2) expand review scope to FY2015 to FY2018 to see if the Export business was done on normal commercial terms 3) Obtain independent legal opinion on the Franchise Model 4) To procure all records from the import agent https://links.sgx.com/FileOpen/Best%20World%20International%20-%20Notice%20of%20compliance_Final.ashx?App=Announcement& FileID=559059
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like2learn Veteran	13-May-2019 19:31        like2learn About Contact  Quote this Post!
x 0   x 0  Alert Admin	no scared their accounts - koh hui (bw financial controller) very zai.  positivity88      ( Date: 13-May-2019 19:09) Posted: Next up office caught fire or truck met accident on transit and all documents not retrievable.. sounds familiar?? Lol
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ivanchong75477 Member	13-May-2019 19:25        ivanchong75477 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I  believe the key point here should be that all transactions between Changsha and Best World MUST be genuine and all the payments MUST have been received by Best World. There definitely should be agreements that supports the business relationship and as Primary Import Agent, they carry out the role as the primary agent to Best World expectations, there should not be any issues. Like someone in one of the earlier thread said, innocent until proven guilty.
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1035834 Senior	13-May-2019 19:23        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is time for BR to post more evidence to guide through PwC to find the fraud evidence since they said got some findings yet to released
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Sin_Cos_Tan Veteran	13-May-2019 19:20        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://sginvestors.io/sgx/stock/cgn-best-world/company-announcement
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Sin_Cos_Tan Veteran	13-May-2019 19:18        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	A good move! REPL::Regulatory Actions By SGX::Notice of Compliance   2019-05-13 17:43:20      http://infopub.sgx.com/FileOpen/Best%20World%20International%20-%20Notice%20of%20compliance.ashx?App=Announcement& FileID=559028 PWC should perusal all the  Intercompany Transactions (and not only based on the confirmation letter as done by BW' s auditors EY, I guess) and the Primary Import Agent financial  reports/ tax returns sbumitted to PRC authorities. ******** BWL replied...The Company will also procure the Primary Import Agent to grant PwC access to all necessary records for the period from 1 January 2017 to 31 May 2018  (now is 2015 -2018 as requested by SGX RegCo) for the purpose of PwC' s review of the Group' s sales to the Primary Import Agent during that period. george78      ( Date: 13-May-2019 18:11) Posted: 1) SGX wants PwC to report solely to SGX Regco 2) expand review scope to FY2015 to FY2018 to see if the Export business was done on normal commercial terms 3) Obtain independent legal opinion on the Franchise Model 4) To procure all records from the import agent https://links.sgx.com/FileOpen/Best%20World%20International%20-%20Notice%20of%20compliance_Final.ashx?App=Announcement& FileID=559059
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stockpicker Master	13-May-2019 19:10        stockpicker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nothing will b found. Wasting time. But good to suspend to keep shortists at bay Superkilat      ( Date: 13-May-2019 18:18) Posted: Sgx Regco conviniently put the responsibility to determine veracity of china sales on pwc. They only receive the copies of records for wayang wayang. Can pwc find anything? I doubt so.
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positivity88 Veteran	13-May-2019 19:09        positivity88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Next up office caught fire or truck met accident on transit and all documents not retrievable.. sounds familiar?? Lol
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