| Latest Forum Topics / Best World |
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THE BEST IS YET TO BE
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Jamesbond007
Veteran |
25-Apr-2019 13:14
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Time up. Game over. BW 0 BT 1, BW 0 BARITAS 1, BW 0 Veritas 1. In total, BW 0, Opponents 3. Halt. Soon, Suspend, Finally, 0. |
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camry8151
Member |
25-Apr-2019 13:09
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Reminded me of Lion King' s theme song - The Circle of Life... LOL, is this the cycle of capital market? 
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beng1102
Elite |
25-Apr-2019 13:08
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Shop front picture is nothing!  If u go early hours immediately after the shop is opened and take the photo, u don' t expect to see any customer.  I have bought business and done business due deligence before lah.  You must go and recky the shop in various different timing and count the human traffice flow.
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Sen9999
Member |
25-Apr-2019 13:00
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Very true leh..
I just read their report again. The only point worth BWL explaining is the alleged tampering of the accounts(which is vet through and approved by auditors), which I don't think will make such amateur mistake. 2nd is the compliance issue, if it is legal to operate in their system in China. (You can't based on 2 person's showing you of the picture and deduce the CEO lied and is not trustworthy) The rest, shop fronts as explained are only used to service members. Similar to SG model, the places of their office are often not in high traffic areas. They do not need to pay such rentals. Audit fee to EY, I don't see anything wrong and EY probably won't Risk reputation for the $398k.
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beng1102
Elite |
25-Apr-2019 12:59
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Flaw lah!  The rich merchant would left with no monkey and no money as employee would pocket all the money and said " Good BUY" .  All r in the for the money!
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gravity8888
Supreme |
25-Apr-2019 12:55
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Everyone has the right to share their view but please dun ya ya.. One will not always win in the market or lose in the market.. | ||||
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michaeltan
Master |
25-Apr-2019 12:44
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Don' t speculate please! Do you have concrete proof?
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beng1102
Elite |
25-Apr-2019 12:37
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No choice lah!  The whole Singapore is run by the scholars, they must find the correct books to read first before they can do any work.
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Tiger04
Senior |
25-Apr-2019 12:36
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Tried. Couldn't hahaha. It was copy and paste. It wasnt like that in my email and chat text . Paisay paisay | ||||
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Operator81
Senior |
25-Apr-2019 12:32
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Tiger, you got go school anot? Can put in paragraph and make it more readable? Thank you.
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Tiger04
Senior |
25-Apr-2019 12:29
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(Not sure who wrote this.... )
Who is running the SGX? The 3 amigos or Bonitas Research?
First I declare that I do not currently hold a position in Best World.
If SGX is looking into why the market is so dead and they can't attract any IPO, this is the best example of a reason.
Any ang moh can come out and say something bad about a company without any proof and SGX will respond by calling the company to prove that it is not true. Since when was such logic correct? The company is guilty until it can prove itself innocent. Even if SGX dun mean that, the tone of their notice points to that.
Under this kind of ecosystem, who wants to list here?
People must bear in mind that it is always very difficult to convince investors on the merits of a business and business model. It takes a lot of time to build confidence. But out of the blue, someone with an ang moh name can come out and whack a company and every one is supposed to pay attention. Then the whole country lose confidence in their own home grown company and that can bring about its collapse.
It is so easy to attack Singapore isn't it. Dun ever talk to me about the bullshit about various aspects of defence in SG when we can't even defend our own businesses.
An audit review is now going on. SGX's response should be to wait for the audit report to come out. Means there is already due process. The way I see it, SGX panic when Bonitas came out with the report.
I am not saying that there is absolutely nothing wrong with Best World. I dun know. But I think the way it is attacked is also dubious.
The regulator must be seen to be fair and impartial and generally supportive of companies listed. And if the listco is errant, by all means, take action.
There is a famous case in the US when Bill Ackman attacked Herbalife, also an MLM firm, calling it a ponzi scheme. A few other big investors like Carl Icahn came out on the opposite side and attack back. Bill Ackman lost billions. And he was later attacked by other big investors including Warren Buffet.
The US has the ecosystem for such things. SG dun. But what we dun need is the regulator to panic and "side" with the short seller as well. Then everyone will panic and the company can die before it can even defend itself. A broking house has already stipulated that all purchases must be 100% cash backed. I dun blame them.
The reasoning here is straight forward. People dun do such things because they are too free. There is something to be gained by Bonitas to issue such a report. Bonitas is not doing NS and it certainly is not trying to protect investors here. Purely from that angle, a regulator must never be seen to take side. That is exactly what Bonitas hope for and that is exactly what they got!
As I declared, I have no position in Best World.
TKB
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Operator81
Senior |
25-Apr-2019 12:27
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You go read the 🐒 business lah.
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beng1102
Elite |
25-Apr-2019 12:23
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Yah!  Me too.  Give up on you guys.
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curious_moo
Master |
25-Apr-2019 12:21
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at least u got one point correct. Bonitas is an definitely an opportunist, and now that opportunity is BWL. he either win big or lose big, but to them i believe they made a " calculated" risk having done their " research" ..  
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Operator81
Senior |
25-Apr-2019 12:17
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Haha, maybe i should give up on him too.
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beng1102
Elite |
25-Apr-2019 12:12
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But this not so clever Bonitas did not have any report on Hyflux.  That shows that this Bonitas is just an opportunist.  
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curious_moo
Master |
25-Apr-2019 12:12
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lesson learnt.. only invest what you can lose.. life savings into hyflux is really -.-! and the higher the reward, the higher the risk.. there will always be pple very jumbo risk appetite, any kind of stock also sure got pple willing to play. im just not one of them =)
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Operator81
Senior |
25-Apr-2019 12:09
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You know that you and your money is soon parted. Go learn how and why the share price go to $3.30 before you buy your next counter. Let me give you a head start to the 🐒   business:   Many monkeys live near a village. One day, a merchant came to the village to buy these monkeys! He announced that he will buy the monkeys at  $100 each. The villagers thought that this man is mad. They thought  how would anybody buy stray monkeys at $100 each? Still, some people caught some monkeys and gave it to this merchant and the latter gave  $100 for each monkey. The news spread like wildfire and people caught monkeys and sold it to the merchant. After a few days, the merchant announced that he will buy monkeys at $200 each. The other lazy villagers also ran around to catch the remaining monkeys! They sold them at  $200 each. Then the merchant announced that he will buy monkeys at  $500 each! The villagers started to lose sleep! They managed to catch six or seven monkeys, which was all that was left and got $500 each. The villagers then waited anxiously for the next announcement. Then the merchant announced that he is going home for a week. And when he returns, he will buy  more  monkeys at  $1000 each! He asked his employee to take care of the monkeys he bought. The employee was left alone to take care of all the monkeys in a cage and the merchant went home. The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each. Then the employee told them that he will sell some monkeys at  $700 each secretly. This news spread like fire. Since the merchant buys monkey at $1000 each, there  would be  a  $300 profit for each monkey. The next day, villagers made a queue near the monkey cage.  The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor  borrowed money  from money lenders to jump on the monkey hype train too! The villagers took care of their monkeys and waited for the merchant to return. But nobody came! Then they ran to the employee, but he had already left too! The villagers then realised that they have bought the useless stray monkeys at $700 each and were unable to sell them!
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Leehonghng
Member |
25-Apr-2019 12:08
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Ha, Ha, . . . . . We got hyflux & we go another best world yesterday, what else? What the sgx & cad are not doing their jobs in a proper ways? My money with hyflux is gone! | ||||
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michaeltan
Master |
25-Apr-2019 12:08
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All sorts of speculation in this forum. Better trading remain suspended until the full reports of review is out tentatively before 30/6/2019. Afterall those shorted to get the easy money should pay for the price if the China funds and company are behind to support.
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