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Latest Forum Topics / Best World  Post Reply
THE BEST IS YET TO BE
destinykraze
Elite
11-May-2019 10:50     
 
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Yells: "Reality is only a matter of perception"
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 Alert Admin 		Things getting worse by the day. At this stage, BWI may still be able to turn it around. But it' s situation is peril. Bad news keeps coming.
Those vested may have selective reading, but the fact is this will trigger people to be more cautious and may finally wake up those who were dreaming.

Goldfinger      ( Date: 11-May-2019 10:39) Posted:

CIMB just stopped coverage of BW and issued disclaimer. Well done.

enjoylife77      ( Date: 11-May-2019 10:37) Posted:

Once a research house or a reputable publication sounded the alarm, its time to get out to protect our capital. There must be something we can learn from past episode of Sino Forest, Olam, Noble, Sino Grandness, ABL and many more.
 


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Grubber
Elite
11-May-2019 10:49     
 
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 Alert Admin 		last thursday was the only chance to get out whether long/short.

Goldfinger      ( Date: 11-May-2019 10:25) Posted:

They should just lift the stupid suspension and let us short this to 1cent. Then delist.
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Leehonghng
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11-May-2019 10:42     
 
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 Alert Admin 		bw international should be considered as a "dead case" now, 死 吧 ！

Observers      ( Date: 11-May-2019 10:18) Posted:

Looks like this is going to be a long long suspension since SGX reg co seems determined to verify BW' s books.

Sin_Cos_Tan      ( Date: 11-May-2019 08:00) Posted:


Best World has until Monday morning to respond to SGX queries
FRI, MAY 10, 2019 - 11:02 PM BT
BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.
The extension from the initial Friday deadline was granted at the company' s request.
It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.
SGX' s regulatory arm had asked Best World on Thursday:
1. Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.
2. Please state the board' s basis for the statement that the primary import agent is an independent party of the group,
3. SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.
4. It also asked when the group commenced dealings with Changsha Best.
On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.
But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.
SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.
On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.
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Goldfinger
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11-May-2019 10:39     
 
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 Alert Admin 		CIMB just stopped coverage of BW and issued disclaimer. Well done.

enjoylife77      ( Date: 11-May-2019 10:37) Posted:

Once a research house or a reputable publication sounded the alarm, its time to get out to protect our capital. There must be something we can learn from past episode of Sino Forest, Olam, Noble, Sino Grandness, ABL and many more.
 

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enjoylife77
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11-May-2019 10:37     
 
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 Alert Admin 		Once a research house or a reputable publication sounded the alarm, its time to get out to protect our capital. There must be something we can learn from past episode of Sino Forest, Olam, Noble, Sino Grandness, ABL and many more.
 
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Goldfinger
Supreme
11-May-2019 10:29     
 
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 Alert Admin 		Let the free market decide whether the books are good and the value of BW.
Why must SGX stop Free markets from working?
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Goldfinger
Supreme
11-May-2019 10:25     
 
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 Alert Admin 		They should just lift the stupid suspension and let us short this to 1cent. Then delist.
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Observers
Elite
11-May-2019 10:18     
 
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 Alert Admin 		Looks like this is going to be a long long suspension since SGX reg co seems determined to verify BW' s books.

Sin_Cos_Tan      ( Date: 11-May-2019 08:00) Posted:


Best World has until Monday morning to respond to SGX queries
FRI, MAY 10, 2019 - 11:02 PM BT
BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.
The extension from the initial Friday deadline was granted at the company' s request.
It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.
SGX' s regulatory arm had asked Best World on Thursday:
1. Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.
2. Please state the board' s basis for the statement that the primary import agent is an independent party of the group,
3. SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.
4. It also asked when the group commenced dealings with Changsha Best.
On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.
But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.
SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.
On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.
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Superkilat
Elite
11-May-2019 09:53     
 
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 Alert Admin 		Whatever fraid cannot be hidden if cash is verified. Sgx should verify they have the cash as they stated. This is first thing as even they overstated their financial reports, at least the cash on hands is genuine..
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Shifu8888
Supreme
11-May-2019 09:37     
 
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 Alert Admin 		Yes. They will but now China is busy with US for the trade war. So no time for civil war for now.... :)

positivity88      ( Date: 11-May-2019 08:31) Posted:

The next headline people are afraid to see is China authorities looking into best world.. then this suspension gonna be Long.

enjoylife77      ( Date: 11-May-2019 03:12) Posted:

When a name is splashed all over the media for the wrong reason, do you think it will survive?
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zillion
Master
11-May-2019 09:20     
 
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 Alert Admin 		Tkhs. Fully agree. While one can key in buy first and have up to t+2 to close position by selling before payment date, sgx can come up with another box with indication of sell with 'contra' check box. This will add vibrancy to the already dead mkt.

stockpicker      ( Date: 11-May-2019 08:40) Posted:

MAS and SGX introduced short selling rules and regulations exactly to handle this kind of situation where short sellers is using " naked" shorts to create significant market instability.  It said in its guidelines http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Securities%20Futures%20and%20Fund%20Management/Regulations%20Guidance%20and%20Licensing/Guidelines/Guidelines%20on%20the%20Regulation%20of%20Short%20Selling.pdf
 


However, when there is significant market uncertainty,short sellingcould result in increasedmarket volatility, potentially leading to disorderly markets. Short selling may also be used as a tool in market abuse, for example where it is accompanied by false rumours designed to encourage others to sell.


Don' t think they will entertain your request.. now they required those who shorted more than 0.2% of the company outstanding share to report to MAS with 2 days


 

zillion      ( Date: 10-May-2019 23:32) Posted:

Agree. But sgx must differtiate the term short sell. Online trading platform gives that option to click sell or short sell. If the intention is sell first to cover position before closing the trade is not naked short. The retail player is not violating any sgx rules. Speak to any broker will also give same advice - can sell first to buy back bef 5pm /close. Sgx is at fault by suspending the counter before position is square off.
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stockpicker
Master
11-May-2019 08:54     
 
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 Alert Admin 		My thinking is that the founders have been using ChangSha Best as a [shield] to test the market and for doing other things such as tax avoidances.  But they did it so poorly and now being exposed.    They could not tell the whole World earlier about the relationship and decided to do covering up.    Now they will have to choose if they should tell truth or delist the company altogether.  Would be surprise if they are using ChangSha Best to do hanky panky to cheat the investors.

Berani      ( Date: 11-May-2019 08:22) Posted:

i think like yuuzoo....

SGX do not understand the business model of BW well

Sin_Cos_Tan      ( Date: 11-May-2019 08:00) Posted:


Best World has until Monday morning to respond to SGX queries
FRI, MAY 10, 2019 - 11:02 PM BT
BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.
The extension from the initial Friday deadline was granted at the company' s request.
It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.
SGX' s regulatory arm had asked Best World on Thursday:
1. Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.
2. Please state the board' s basis for the statement that the primary import agent is an independent party of the group,
3. SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.
4. It also asked when the group commenced dealings with Changsha Best.
On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.
But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.
SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.
On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.
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stockpicker
Master
11-May-2019 08:40     
 
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 Alert Admin 		MAS and SGX introduced short selling rules and regulations exactly to handle this kind of situation where short sellers is using " naked" shorts to create significant market instability.  It said in its guidelines http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Securities%20Futures%20and%20Fund%20Management/Regulations%20Guidance%20and%20Licensing/Guidelines/Guidelines%20on%20the%20Regulation%20of%20Short%20Selling.pdf
 


However, when there is significant market uncertainty,short sellingcould result in increasedmarket volatility, potentially leading to disorderly markets. Short selling may also be used as a tool in market abuse, for example where it is accompanied by false rumours designed to encourage others to sell.


Don' t think they will entertain your request.. now they required those who shorted more than 0.2% of the company outstanding share to report to MAS with 2 days


 

zillion      ( Date: 10-May-2019 23:32) Posted:

Agree. But sgx must differtiate the term short sell. Online trading platform gives that option to click sell or short sell. If the intention is sell first to cover position before closing the trade is not naked short. The retail player is not violating any sgx rules. Speak to any broker will also give same advice - can sell first to buy back bef 5pm /close. Sgx is at fault by suspending the counter before position is square off.

1035834      ( Date: 10-May-2019 23:03) Posted:

SGX didn&rsquo t stop ppls short selling but you need to borrow shares first or using cfd .   If allow short sell without share , no matter how strong of a Company also may go bankruptcy
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positivity88
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11-May-2019 08:31     
 
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 Alert Admin 		The next headline people are afraid to see is China authorities looking into best world.. then this suspension gonna be Long.

enjoylife77      ( Date: 11-May-2019 03:12) Posted:

When a name is splashed all over the media for the wrong reason, do you think it will survive?
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Berani
Elite
11-May-2019 08:22     
 
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 Alert Admin 		i think like yuuzoo....

SGX do not understand the business model of BW well

Sin_Cos_Tan      ( Date: 11-May-2019 08:00) Posted:


Best World has until Monday morning to respond to SGX queries
FRI, MAY 10, 2019 - 11:02 PM BT
BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.
The extension from the initial Friday deadline was granted at the company' s request.
It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.
SGX' s regulatory arm had asked Best World on Thursday:
1. Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.
2. Please state the board' s basis for the statement that the primary import agent is an independent party of the group,
3. SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.
4. It also asked when the group commenced dealings with Changsha Best.
On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.
But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.
SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.
On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.
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Sin_Cos_Tan
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11-May-2019 08:00     
 
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 Alert Admin
Best World has until Monday morning to respond to SGX queries
FRI, MAY 10, 2019 - 11:02 PM BT
BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.
The extension from the initial Friday deadline was granted at the company' s request.
It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.
SGX' s regulatory arm had asked Best World on Thursday:
1. Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan.
2. Please state the board' s basis for the statement that the primary import agent is an independent party of the group,
3. SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.
4. It also asked when the group commenced dealings with Changsha Best.
On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.
But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.
SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.
On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.
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enjoylife77
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11-May-2019 03:12     
 
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 Alert Admin 		When a name is splashed all over the media for the wrong reason, do you think it will survive?
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guards80
Supreme
11-May-2019 03:05     
 
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 Alert Admin

Best World has until Monday morning to respond to SGX queries


BEST World International has been granted an extension until 8.30 on Monday morning to answer queries from the Singapore Exchange (SGX) about the relationship between the company and its primary import agents.The extension from the initial Friday deadline was granted at the company' s request. It was given so that the company can " prepare and approve an announcement that will fully address the issues raised in the queries" , Best World said in a statement on Friday night.SGX' s regulatory arm had asked Best World on Thursday: " Please confirm if Koh Kim Chuan, shareholder and legal representative of Changsha Best Commodity Trading Co ... is the brother-in-law of Dora Hoan." " Please state the board' s basis for the statement that the primary import agent is an independent party of the group," it added.Also, SGX asked if Changsha Best, the primary import agent, and its directors, substantial shareholders, key management and associates, have any direct or indirect relationship with Best World and its directors and substantial shareholders as well as associates.It also asked when the group commenced dealings with Changsha Best.On Thursday morning, Best World had vouched for Changsha Best' s independence while confirming that it was indeed Best World' s primary import agent, in response to a professional shortseller Bonitas Research.But an anonymous report by Valiant Varriors later that morning linked Changsha Best to a person named Koh Kim Chuan. A person by that name is married to Mary Huan, believed to be the sister of Best World co-founder Dora Hoan, the report said.SGX Regco suspended trading in Best World shares that afternoon. That suspension will continue until it has completed its investigations into the veracity of the company' s China sales.On Thursday, Best World bought back some 4.88 million shares between S$1.32 and S$1.75 to the tune of S$7.77 million, according to the daily share buyback notice.

http://www.businesstimes.com.sg/companies-markets/best-world-has-until-monday-morning-to-respond-to-sgx-queries
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destinykraze
Elite
11-May-2019 01:43     
 
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Yells: "Reality is only a matter of perception"
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 Alert Admin 		Why people that have no investment knowledge are coming up with their own set of rules and regulations?
zillion, when u do naked short shot with the intention of covering before the day end is still naked shorts.
Don' t come up with your own logic.

beng1102      ( Date: 11-May-2019 00:04) Posted:

Now blame SGX!  Earlier I said SGX behaved unprofessionally and should cancal all trades, many shorties cried out laud and now  want SGX go bend the rule and no penalty.  When trading resume please do NOT naked short as any news or new evidence could quickly trigger trade halt, you should already known too well.  Monday announcement could be tricky, why need so many days to answer these simple questions?

zillion      ( Date: 10-May-2019 23:32) Posted:

Agree. But sgx must differtiate the term short sell. Online trading platform gives that option to click sell or short sell. If the intention is sell first to cover position before closing the trade is not naked short. The retail player is not violating any sgx rules. Speak to any broker will also give same advice - can sell first to buy back bef 5pm /close. Sgx is at fault by suspending the counter before position is square off.
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softdrink
Member
11-May-2019 00:25     
 
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 Alert Admin 		Difficult for him to wake up. He is in a deep deep sleep!
Most likely would never wake up despite nemberous calls.....
 

Operator81      ( Date: 10-May-2019 21:05) Posted:

Beng, let me know when you wake up. Bcos the next phase after suspension is known as capitulation. After capitulation then it is hong lim park protest.

beng1102      ( Date: 10-May-2019 20:42) Posted:

It seem too easy to catch them on this point.  Are the founders really that stupid and do not know how to cover-up when intend to cheat.  Like Singpost Director involved in conflict of interest did not declared (give lot reason and act blur) and was only given a warning
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