| Latest Forum Topics / Best World |
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THE BEST IS YET TO BE
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Hotanman
Member |
08-Jun-2020 12:37
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In the report no indication of the date of opening...independent audit still going on.. | ||
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phongy45
Senior |
08-Jun-2020 12:20
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coffee time ...any news for 2019 results?
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Misty11
Member |
08-Jun-2020 10:41
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This dividend is for FY ending 31/12/2018. Will be wonderful if they also give dividned for FY ending 31/12/2019 !!! |
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iinvestor
Veteran |
08-Jun-2020 10:39
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still no lift trading suspension...get ready for a very HOT AGM.. | ||
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beng1102
Elite |
08-Jun-2020 10:36
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Those with short position must pay for it and still pay interest for holding.
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Misty11
Member |
08-Jun-2020 09:47
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The Company just proposed dividend of 5 cents subject to AGM approval. AGM on 22/6/2020. Book close 1st July 2020. Pay date 17/7/2020. |
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Tiger04
Senior |
19-May-2020 14:27
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The recent delay was due to Covid. Travelling is still banned in Spore. Let's Hope no one tries to save face by sacrificing the share holders interests | ||
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umpopk
Member |
17-May-2020 22:40
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Financials looks better and better, unlikely to fake report since under scrutiny.. | ||
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like2learn
Veteran |
17-May-2020 16:17
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In the latest Q1 results, BW is adding more china franchisees => means demand for its products still strong .... hard to find a company that is still making $ during this covid-19 period - Q12020 profit $13m vs Q12019 $10m, albeit margins have dropped a litte. however, like a forumer pointed out ... yes, it wld be good if there are influencers/shareholders who went over to BW china franchisees and take some videos to share. also dunno why independent report need to take so long, BW is not a big company .... imagine if it is those blue chips, probably suspend for a few years ? |
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1035834
Senior |
17-May-2020 15:06
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The performance of company will be getting better, after acquired British beauty firm Pedal Pulses which sellling the premium foot care products (good margin products) and i realise this products are quite popular and well-known in UK(you can do your own research). Bestworld will be selling this new products line thorugh its existing network to their existing members as well as franchise in China. i can foresee this is going to have a big impact to the company profit in near future especially the company is still able to generate good profits during china lock-down period. i dont think it is fraudulent involved so far no evidence show and company got plenty of cash to do the acquisition. | ||
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meljohn
Senior |
16-May-2020 07:40
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Don't know why company allow SGX to suspend
so long time? No action? |
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TA_Expert
Supreme |
16-May-2020 02:02
Yells: "The World has changed" |
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An old article. Did any of the shareholders go to China over the 1 year period to see for yourself the centers / shops / offices, operations etc to verify what the short seller has mentioned? Bonitas Research We believe that Best World is a fraud and that its Chinese sales are a fraction of what was reported to shareholders. On March 19, 2019, Best World International Ltd. (BB: BEST __ SGX: CGN) (&ldquo Best World&rdquo or the &ldquo Company&rdquo ) disclosed to its shareholders that it hired PricewaterhouseCoopers (&ldquo PwC&rdquo ) to conduct a limited, one-year independent review of its 2018 China operations. We think Best World management purposely focused PwC&rsquo s investigation solely on 2018 in an attempt to both divert attention from, and ultimately further conceal, previously reported fake sales and profits from its China operations. PRC Filings suggest that Best World fabricated at least S$ 31 million of its reported 2017 sales to its &ldquo one major customer&rdquo (&ldquo Changsha Best&rdquo ), an entity Best World management secretly controlled and exclusively created to be Best World&rsquo s off-books China counterparty. Excluding fabricated sales to Changsha Best, we calculate that Best World overstated its 2017 net profits by at least 130%. Since January 2019 we have communicated with 24 separate Best World China member representatives (&ldquo Member Rep(s)&rdquo ) and have conducted field visits to 12 BWL Lifestyle Centers (~36% of Best World&rsquo s listed franchisee locations) to better understand Best World&rsquo s sales model. Our findings suggest there exists very little end user consumer demand for DR&rsquo s Secret skin care products in China. In addition, evidence suggests that since the February 18, 2019 Singapore Business Times article (the &ldquo BT Article&rdquo ), online vendors on both JD.com and Taobao.com appear to have artificially inflated their online review counts and transaction history to give a false appearance of online sales activity. We found that 8 of the 12 BWL Lifestyle Centers we visited did not sell individual products to non-members. Our investigators commented that employees at BWL Lifestyle Centers disclosed and acted as though they were not accustomed to interacting with walk-in customers. We laugh at this, but we were told by on-site employees at one BWL Lifestyle Center that we were their very first walk-in customer despite their lifestyle center being open since October 2017! As reward for their fraudulent scheme, Best World&rsquo s founders (the &ldquo Dora&rsquo s&rdquo ) exponentially accelerated their combined annual take home pay by 20x in five years, earning less than S$ 2 million in 2013 to receiving S$ 40+ million in cash in 2018! In the three years since implementing the scheme, the Dora&rsquo s collectively took home S$ 85 million in cash, while Best World exited 2018 with its trade and payables balance at an all-time high of S$ 95 million and its receivables touching all-time lows at S$ 5.2 million. |
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xxadidasxx
Veteran |
15-May-2020 23:22
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SGX taking their own sweet time lift the suspend and let the market decide | ||
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beng1102
Elite |
15-May-2020 20:22
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Make sure they successfully sue that short seller and compensate the shareholders who had bought the share before the fake short seller' s report.
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Tiger04
Senior |
15-May-2020 09:43
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Quarterly report . Good Profits, but no div. | ||
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t0RNAD0
Member |
13-May-2020 11:46
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SGX trying to sabo bonitas?
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meljohn
Senior |
13-May-2020 08:17
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SGX sleeping | ||
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uiop1223
Supreme |
13-May-2020 08:13
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Not sure but i can confirm the auditors are earning big bucks
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xxadidasxx
Veteran |
13-May-2020 02:11
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Any update on their next report ? | ||
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Starship
Supreme |
04-May-2020 16:54
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It probably means there' s alot of digging to do maybe a bottomless pit.  
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