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Starship Supreme	13-May-2019 21:54        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	sbscap      ( Date: 13-May-2019 21:46) Posted: It's too late for the bulls now. It's going to be ugly. The sgx letter is so comprehensive. It mentioned the BT article and short sellers reports in a tone that I will not be surprised sgx has contacted the writers of these negative reports. The question is now ugly and what are worms will be dug out.
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Sgvale Supreme	13-May-2019 21:49        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Best World also suspended at the right time. It has escaped the sell off brunt of the tariff.
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sbscap Master	13-May-2019 21:46        sbscap About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	It's too late for the bulls now. It's going to be ugly. The sgx letter is so comprehensive. It mentioned the BT article and short sellers reports in a tone that I will not be surprised sgx has contacted the writers of these negative reports. The question is now ugly and what are worms will be dug out.
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Starship Supreme	13-May-2019 21:45        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	SGX orders Best World' s major customer to hand over documents MON, MAY 13, 2019 - 7:18 PM THE Singapore Exchange (SGX) is digging deeper into the business dealings of Best World International, after  the mainboard-listed skincare products firm on Monday confirmed allegations that  its chief executive' s brother-in-law is indeed the owner  of Best World' s largest customer in 2017. This customer, Changsha Best, was Best World' s primary import agent in China until Best World  switched from an export model to a franchise model last year. In a notice of compliance issued to Best World on Monday, SGX is requiring the company to procure Changsha Best and other import agents to hand over copies of their financial information, accounting and corporate records to SGX RegCo, the  regulatory arm of the SGX. SGX said: " The revelation of the relationship between Changsha Best and the company' s CEO and managing director raises serious concerns about the veracity of the China sales conducted under the export model from 2015 to 2018 and whether these were conducted on normal commercial  terms." Earlier on Monday, Best World had apologised for failing to provide a fuller picture of the ownership of Changsha Best. It said that Koh Kim Chuan, brother-in-law of CEO Dora Hoan, and the sole shareholder and legal representative of Changsha Best, was a " passive investor" , and neither he nor his wife Mary Huan - sister of Ms Hoan - was responsible for the management and business operations of Changsha Best. This follows after Best World told investors last week that Changsha Best was an independent third party, and that it would sue short-seller Bonitas Research, which had claimed otherwise. SGX now wants Best World to  " render all reasonable acts of assistance including and not limited to access and contact to the customers, warehouses and delivery service providers (including procuring the warehouse and courier documents) of Changsha Best and other import agents to SGX RegCo, the independent reviewer or any person(s) as directed by the Exchange" . Best World is already the subject of an  independent review that SGX ordered in April. SGX has now ordered the independent reviewer, PwC, to report " solely to SGX RegCo"   on the scope and all findings of its independent review. PwC was initially told to  report directly to both SGX RegCo and Best World' s audit committee. SGX also wants  the scope of the PwC review expanded to determine the veracity of the group' s sales in China under the export model from 2015 to 2018 and whether these were conducted on normal commercial terms, it said on Monday. As for the new franchise business model that Best World has adopted since last year, SGX wants the group to obtain an independent legal opinion on the legality of its sales and distribution business under the franchise model. SGX is also requiring Best World  to render its full cooperation to SGX RegCo,  including requests for information and interviews/site visits to facilitate the independent review. It said: " Compliance with this notice does not constitute a waiver of any kind, and SGX RegCo reserves the right to take disciplinary action against the company and/or any relevant person(s) for breaches of the Listing Rules, including any failure to comply with the requirements imposed by SGX RegCo." Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47. In a report on Monday titled  Best World' s Zero Moment of Truth, Mr Low wrote that Best World reported a weak set of first-quarter results last week, reaffirming his view that consumer interest in the group' s flagship skincare brand in China trails its strong sales revenue. SGX has suspended trading in shares of Best World since last Thursday. It said: " Trading suspension will continue until we have completed our investigations into the veracity of the company' s China sales."
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1035834 Senior	13-May-2019 21:41        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I believe they should have short position to cover ,last week all seller is foreign house  JarBinx      ( Date: 13-May-2019 21:38) Posted: $0.47 is really too much.. BWL was trading above that even before China like2learn      ( Date: 13-May-2019 20:51) Posted: From the BT article link below : " Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47." 0.47 can easily be taken private ... top 20 shareholders may still be in the money if they vested long ago and will be happy to accept
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JarBinx Member	13-May-2019 21:38        JarBinx About Contact  Quote this Post!
x 0   x 0  Alert Admin	$0.47 is really too much.. BWL was trading above that even before China like2learn      ( Date: 13-May-2019 20:51) Posted: From the BT article link below : " Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47." 0.47 can easily be taken private ... top 20 shareholders may still be in the money if they vested long ago and will be happy to accept. Sin_Cos_Tan      ( Date: 13-May-2019 20:44) Posted: SGX orders Best World' s major customer to hand over documents http://www.businesstimes.com.sg/companies-markets/sgx-orders-best-worlds-major-customer-to-hand-over-documents 这 次 来 真 的 .....
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like2learn Veteran	13-May-2019 21:10        like2learn About Contact  Quote this Post!
x 0   x 0  Alert Admin	i also think it wld be a long winter .... both shortist / longist can ZZzzzzzzz, take a few mths break after all the heart stopping action. Endgame Part 1 ended, wait for Endgame Part 2. 1035834      ( Date: 13-May-2019 21:02) Posted: At least 3-6 months suspended ,now market so bad , dont think management rush for resume trading .
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Jamesbond007 Veteran	13-May-2019 21:06        Jamesbond007 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Had been warning of this company enen as its share price rosd from $1.50 ho $3.00+ on the back of strong top n bottom lines.
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Shifu8888 Supreme	13-May-2019 21:06        Shifu8888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agree. It will be game over and if caught for illegal MLm, the legal rep will have to spend time behind bars. nqing87      ( Date: 13-May-2019 20:31) Posted: 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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Tiger04 Senior	13-May-2019 21:04        Tiger04 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Same news right. I thot more development Sin_Cos_Tan      ( Date: 13-May-2019 19:20) Posted: http://sginvestors.io/sgx/stock/cgn-best-world/company-announcement
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fatpanda Supreme	13-May-2019 21:02        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Ya,. They would LL but continue to 'tekan' BWL. Superkilat      ( Date: 13-May-2019 20:46) Posted: Again what power shx Regco has? If the major customers refuse to provide, sgx can do anything or LL only?
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1035834 Senior	13-May-2019 21:02        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	At least 3-6 months suspended ,now market so bad , dont think management rush for resume trading .
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Berani Elite	13-May-2019 21:00        Berani About Contact  Quote this Post!
x 0   x 0  Alert Admin	special audit took months to complete. Suspension will not be so fast unlift bayduck      ( Date: 13-May-2019 20:59) Posted: Even if we assume that BW is actually innocent, there seems to be too many forces trying to bring it down, so i am not sure if holders can survive the onslaught before the dust settles. like2learn      ( Date: 13-May-2019 20:51) Posted: From the BT article link below : " Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47." 0.47 can easily be taken private ... top 20 shareholders may still be in the money if they vested long ago and will be happy to accept
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bayduck Member	13-May-2019 20:59        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	Even if we assume that BW is actually innocent, there seems to be too many forces trying to bring it down, so i am not sure if holders can survive the onslaught before the dust settles. like2learn      ( Date: 13-May-2019 20:51) Posted: From the BT article link below : " Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47." 0.47 can easily be taken private ... top 20 shareholders may still be in the money if they vested long ago and will be happy to accept. Sin_Cos_Tan      ( Date: 13-May-2019 20:44) Posted: SGX orders Best World' s major customer to hand over documents http://www.businesstimes.com.sg/companies-markets/sgx-orders-best-worlds-major-customer-to-hand-over-documents 这 次 来 真 的 .....
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Sgvale Supreme	13-May-2019 20:55        Sgvale About Contact  Quote this Post!
x 0   x 0  Alert Admin	Best World confirms allegations that CEO's brother-in-law owns main customer in China. I begin to believe Valiant Varriors Sin_Cos_Tan      ( Date: 13-May-2019 20:52) Posted: Valiant Varriors, in its short sell research blog, has published the first instalment of a two-part report that alleges Best World continues to engage in multi-level marketing (MLM) in China, which is illegal. http://valiantvarriors.wixsite.com/home/newletters/best-world-the-worst-investment   SmallSmall      ( Date: 13-May-2019 20:31) Posted: 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
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Sin_Cos_Tan Veteran	13-May-2019 20:52        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Valiant Varriors, in its short sell research blog, has published the first instalment of a two-part report that alleges Best World continues to engage in multi-level marketing (MLM) in China, which is illegal. http://valiantvarriors.wixsite.com/home/newletters/best-world-the-worst-investment   SmallSmall      ( Date: 13-May-2019 20:31) Posted: 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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like2learn Veteran	13-May-2019 20:51        like2learn About Contact  Quote this Post!
x 0   x 0  Alert Admin	From the BT article link below : " Meanwhile, brokerage CLSA is keeping its " sell" call on Best World. Analyst Low Horng Han on Monday revised his 12-month target price for the stock from S$1.75 to S$0.47." 0.47 can easily be taken private ... top 20 shareholders may still be in the money if they vested long ago and will be happy to accept. Sin_Cos_Tan      ( Date: 13-May-2019 20:44) Posted: SGX orders Best World' s major customer to hand over documents http://www.businesstimes.com.sg/companies-markets/sgx-orders-best-worlds-major-customer-to-hand-over-documents 这 次 来 真 的 .....
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like2learn Veteran	13-May-2019 20:46        like2learn About Contact  Quote this Post!
x 0   x 0  Alert Admin	usually, it is unlikely all franchisees conduct mlm - it cld be some black sheep, this was the case with other DS companies in china. only those flouting the rules will get punished. bw' s reputation may be affected but doesn' t mean have to close all franchises. nqing87      ( Date: 13-May-2019 20:31) Posted: 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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Superkilat Elite	13-May-2019 20:46        Superkilat About Contact  Quote this Post!
x 0   x 0  Alert Admin	Again what power shx Regco has? If the major customers refuse to provide, sgx can do anything or LL only?
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Sin_Cos_Tan Veteran	13-May-2019 20:44        Sin_Cos_Tan About Contact  Quote this Post!
x 0   x 0  Alert Admin	SGX orders Best World' s major customer to hand over documents http://www.businesstimes.com.sg/companies-markets/sgx-orders-best-worlds-major-customer-to-hand-over-documents 这 次 来 真 的 .....
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