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zillion Master	13-May-2019 12:09        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	in some s-chips fire broke out destroying the docs! bernardc      ( Date: 13-May-2019 11:58) Posted: As in MIDAS Case subsidiary can ..block access to coy records to the HQ bernardc      ( Date: 13-May-2019 11:56) Posted: Well let's see ..whether the auditor can get access to the agent records especially bank records.. It is a fact..subsidiary can refuse such as demonstrated in middle.. So if bill dont want to allow..BEST WORLD WILL FOLD
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fatpanda Supreme	13-May-2019 12:07        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	So, another MIDAS siutation might happen, and our regulator here could only talk and talk, and probably could not do much. Then, follow up by act blur and keep quiet. bernardc      ( Date: 13-May-2019 12:02) Posted: Off course China law .in China Sgx law if there is any fatpanda      ( Date: 13-May-2019 12:00) Posted: Again, similar situation for those companies that main operation and assets are in mainland China, but listed in SGX. Which country law shall apply and enforce?
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bernardc Elite	13-May-2019 12:02        bernardc About Contact  Quote this Post!
x 0   x 0  Alert Admin	Off course China law .in China Sgx law if there is any fatpanda      ( Date: 13-May-2019 12:00) Posted: Again, similar situation for those companies that main operation and assets are in mainland China, but listed in SGX. Which country law shall apply and enforce?  JarBinx      ( Date: 13-May-2019 11:55) Posted: BWL keep mentioning PWC and the fact that their lawyer, one of the largest in China, says that their business complies with laws and regulations.  Don' t know how much of that holds water..
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stockpicker Master	13-May-2019 12:00        stockpicker About Contact  Quote this Post!
x 0   x 0  Alert Admin	If there is a fraud found,  conflict of interest will confirm if the parties are actually involved but if there is no fraud found and deals are done above board,  conflict of interest can lead only to a suspicion and nothing much about the parties involving in any fraud. Qanghoo      ( Date: 13-May-2019 11:46) Posted: The most interesting thing to surfaced so far is the seemingly deliberate non-disclosure which speaks volumes. stockpicker      ( Date: 13-May-2019 11:40) Posted: Barking at the wrong tree.. proving that the boss of ChangSha has a relationship with BWL is just an indication that there is a conflict of interest doing such business but the interested parties must also show evidences that such conflict of interest has infringed certain laws and regulations   for example,  there are false statements or declarations made in the business dealings.
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fatpanda Supreme	13-May-2019 12:00        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Again, similar situation for those companies that main operation and assets are in mainland China, but listed in SGX. Which country law shall apply and enforce?  JarBinx      ( Date: 13-May-2019 11:55) Posted: BWL keep mentioning PWC and the fact that their lawyer, one of the largest in China, says that their business complies with laws and regulations.  Don' t know how much of that holds water..
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bernardc Elite	13-May-2019 11:58        bernardc About Contact  Quote this Post!
x 0   x 0  Alert Admin	As in MIDAS Case subsidiary can ..block access to coy records to the HQ bernardc      ( Date: 13-May-2019 11:56) Posted: Well let's see ..whether the auditor can get access to the agent records especially bank records.. It is a fact..subsidiary can refuse such as demonstrated in middle.. So if bill dont want to allow..BEST WORLD WILL FOLD
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bernardc Elite	13-May-2019 11:56        bernardc About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well let's see ..whether the auditor can get access to the agent records especially bank records.. It is a fact..subsidiary can refuse such as demonstrated in middle.. So if bill dont want to allow..BEST WORLD WILL FOLD
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JarBinx Member	13-May-2019 11:55        JarBinx About Contact  Quote this Post!
x 0   x 0  Alert Admin	BWL keep mentioning PWC and the fact that their lawyer, one of the largest in China, says that their business complies with laws and regulations.  Don' t know how much of that holds water..
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Qanghoo Supreme	13-May-2019 11:46        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	The most interesting thing to surfaced so far is the seemingly deliberate non-disclosure which speaks volumes. stockpicker      ( Date: 13-May-2019 11:40) Posted: Barking at the wrong tree.. proving that the boss of ChangSha has a relationship with BWL is just an indication that there is a conflict of interest doing such business but the interested parties must also show evidences that such conflict of interest has infringed certain laws and regulations   for example,  there are false statements or declarations made in the business dealings.
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fatpanda Supreme	13-May-2019 11:45        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Third class exchange in the first class financial hub mah, and full of junk stocks...
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Leehonghng Member	13-May-2019 11:41        Leehonghng About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Singapore Stock Market is very hot now! Now is showing the "Best World Saga" and with the more interesting "The Hyflux Saga" on the list.
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stockpicker Master	13-May-2019 11:40        stockpicker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Barking at the wrong tree.. proving that the boss of ChangSha has a relationship with BWL is just an indication that there is a conflict of interest doing such business but the interested parties must also show evidences that such conflict of interest has infringed certain laws and regulations   for example,  there are false statements or declarations made in the business dealings.
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fatpanda Supreme	13-May-2019 11:31        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	" Official documents" produced in mainland China could be faked easily, because it has already happened in many S-Chip fraud cases in the past.    So, the auditor probably have to count the sold products " pieces by pieces in the ' distributor and agent warehouses and shipment to their sub-agents, and also verify the " money" physically in the banks. Tough job for the auditor. But, this probably the best way to prove BWL has the proven recoord on sleas and revenue.
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ArnoldSchwez Senior	13-May-2019 11:27        ArnoldSchwez About Contact  Quote this Post!
x 0   x 0  Alert Admin	The way the vested shortist reply...amazing! Sgx has not announced anything but all the fear everywhere
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zillion Master	13-May-2019 11:17        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	thought if they allow the price to collapse way low then they announce delist-this way will be cheaper. saw so many s-chips ipoed high high, let it linger until pennies then announce to take private.
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destinykraze Elite	13-May-2019 11:12        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	If they cleared doubts and neutral to minor issues, it would be good for BWI. In this case, it doesnt matter how long/short they suspend BWI now. re-opening would see an onslaught of sellers. Delisting is unlikely as it requires a lot of cash, unless they are able to obtain external funding. zillion      ( Date: 13-May-2019 10:14) Posted: spot on. to stop further interogation, it has to be privatise and delist soonest. Once they have made up their mind to privatise, I am sure SGX will lift up suspension. Which is better-questions after questions until all worms come out of the can or just simply delist and start all over again in another part of China. Shifu8888      ( Date: 13-May-2019 10:10) Posted: Both short sellers are readying the next attach reports. They will release them when the trading is lifted for sure. So the suspension is good to clear all the worms. Now, what needs to be done next. 1. Both ladies have to use their own money to do more personal buy backs to show confidence. 2. Prepare to answer: A. Why Usd100,000 company can finance the purchase of millions from BW? B. The sales From the import agent will be scrutinised more thoroughly than before C. Any disclosure of BIL to the Board? If no is the whole board sleeping? If yes, Adrian Lee, being a renowned corporate lawyer should advise them to disclosure to the public on grounds of best practice governance though not required by Chap 9 of listing rules. More more more queries to come. At least 2 months to lift suspension. So, ladies, take them private and do all you like with your in laws, mothers fathers and grandparents. No one will question u.
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destinykraze Elite	13-May-2019 11:08        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	In the corporate world, people look at compliance and enforcement, not faith and trust. If everything based on faith and trust where is the checks and balance? No need for rules and regulations anymore.  Do things by left, and expect no repercussions, really?
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destinykraze Elite	13-May-2019 11:05        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	Mr Koh had provided US$100,000 worth of seed funding to Changsha Best when it was incorporated in July 10, 2014 as a &ldquo personal investment&rdquo , the filing said. He was introduced by Jansen Tang, the nephew of Dora Hoan and Mary Huan, who is also the group&rsquo s senior country manager, China and Hong Kong. Got such things one? Like that the world would never have conflict of interest, as long you claim it' s personal investment. Source :  https://www.businesstimes.com.sg/companies-markets/best-world-confirms-ceos-brother-in-law-owns-main-customer-in-china-discloses
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runaway Senior	13-May-2019 11:02        runaway About Contact  Quote this Post!
x 0   x 0  Alert Admin	BW admits owner of China import agent is CEOs brother-in-law. This contravenes the companys claim that there are no links with its primary import agent (PIA) in China called Changsa Best, which accounted for bulk of Best Worlds revenue in China. It now rests on whether SGX accepts PASSIVE as independent?
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destinykraze Elite	13-May-2019 10:58        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	https://www.businesstimes.com.sg/companies-markets/best-world-confirms-ceos-brother-in-law-owns-main-customer-in-china-discloses Looks very bad. Good news for shortists, bad news for those vested. BEST World has confirmed allegations that its chief executive&rsquo s brother-in-law is the owner and legal representative of its primary import agent in China. It also revealed other connections between the two companies. However, the company&rsquo s board did not give a clear answer to queries by the Singapore Exchange (SGX) about whether import agent, Changsha Best Commodity Trading Co, is considered an independent party. In its response on Monday, Best World&rsquo s board laid out management&rsquo s position that Changsha Best is independent despite the revealed connections, but the board would only say that its assessment of independence does not address the connections revealed in its announcement. Best World had said that Koh Kim Chuan, brother-in-law of chief executive 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.
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