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Tiger04 Senior	24-Apr-2019 15:16        Tiger04 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Best World has shown they are on the issue and have been quick and responsive thus far. Lets wait to profit.
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eagleeyes1989 Master	24-Apr-2019 15:14        eagleeyes1989 About Contact  Quote this Post!
x 0   x 0  Alert Admin	no point in best world defending itself imo. defended itself so well vs the BT report but share price still fell from 2.7++ to now 1.8++.  if they are innocent, their best form of defense is to SUE and be pro active in taking LEGAL ACTION. this is the only way to reinstate investor confidence.
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dan123woo Member	24-Apr-2019 15:12        dan123woo About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	one word: fundementals. if you run a business yourself, you would understand that best world' s business model is hard to fabricate in terms of accounts. their sales are in cash. facts will defend best world Goldfinger      ( Date: 24-Apr-2019 13:58) Posted: With the beating this stock is receiving today and recently, who knows that in 2 months time it may already become a penny stock. How can this wonder-stock come to this???  Who will defend BW now??? dan123woo      ( Date: 24-Apr-2019 13:36) Posted: wait for 2 more months and relook at this post bruh. price will be a better indicator then (
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jm2212 Master	24-Apr-2019 15:11        jm2212 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Can best world sue them if the claims is unfounded? bayduck      ( Date: 24-Apr-2019 14:39) Posted: Never heard of Valiant Varriors before, and their research quality is rather bad (at least to me). Bonitas, on the other hand, is a rather skilled professional shortseller. So I give more weight to them. But they have vested interests in seeing BW crumble, of course. So they definitely will be somewhat biased. In the end, investors should rely on themselves when making the judgement.  You rely on your own assessment, and you take credit and blame for your own success/failure. Goldfinger      ( Date: 24-Apr-2019 14:35) Posted: Both reports are equally horrible - is there even a bit of truth in them?
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investshare Supreme	24-Apr-2019 15:09        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	All ponzi can pay their members until they cannot.
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Operator81 Senior	24-Apr-2019 15:07        Operator81 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Guards80, those who will run has already run road. Those who stay on are loyal supporters who will live and die with the stock. Stop telling them to run, you must tell them where to run because they have never run before.
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Starship Supreme	24-Apr-2019 15:07        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	guards80      ( Date: 24-Apr-2019 15:03) Posted: RUN.!!! Starship      ( Date: 24-Apr-2019 13:49) Posted: Best World shares down 9% on attacks by short sellers Bonitas Research and Valiant Varriors 24/04/19, 01:03 pm SINGAPORE (Apr 24): Best World International, the distributor of skincare, nutritional and wellness products, has been hit by damning reports by two separate short sellers on Wednesday morning: Bonitas Research and Valiant Varriors. As at 1pm, shares in Best World are down 16 cents to $1.62 with 8.8 million shares traded. Bonitas says Best World is a &ldquo fraud&rdquo and alleges its sales in China are a fraction of what was reported to its shareholders. According to its website, Bonitas is founded by Matthew Wiechert, who also started Glaucus Resesarch who in 2013 issued a short seller report attacking vegetable processor China Minzhong which was later take private by its largest shareholder, Indonesian tycoon Anthoni Salim' s Indofood Sukses Makmur. &ldquo We are short Best World stock and believe its stock price will go lower,&rdquo says Bonitas in a Wednesday  report. In its report, Bonitas also questioned the motive of Best World&rsquo s management to appoint auditors PricewaterhouseCoopers (PwC) to conduct a limited, one-year independent review of its 2018 China franchise operations. The move came after The Business Times in February raised concerns over the challenges in tracking sales Best World&rsquo s DR' s Secret line of premium skincare products in China. &ldquo 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,&rdquo says Bonitas. Bonitas also alleges filings in China suggest that Best World fabricated at least $31 million of its reported 2017 sales to its &ldquo one major customer&rdquo called Changsha Best. According to Bonitas, Changsha Best is an &ldquo entity Best World management secretly controlled and exclusively created to be Best World&rsquo s off-books China counterparty&rdquo . &ldquo Excluding fabricated sales to Changsha Best, we calculate that Best World overstated its 2017 net profits by at least 130%,&rdquo says Bonitas. Bonitas also said it had, since January, communicated with 24 separate Best World China member representatives and have conducted field visits to 12 BWL Lifestyle Centers or 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,&rdquo says Bonitas. In addition, Bonitas says evidence suggests that since the publication of the BT article on Feb 18, 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. &ldquo We found that 8 of the 12 BWL Lifestyle Centers we visited did not sell individual products to non-members,&rdquo says Bonitas. Investigators working for Bonitas also said employees at BWL Lifestyle Centers disclosed and acted as though they were not accustomed to interacting with walk-in customers. &ldquo 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,&rdquo says Bonitas. Bonitas also alleges Best World&rsquo s founders exponentially accelerated their combined annual take home pay by 20 times in five years, from less than $2 million in 2013 to $40+ million in cash in 2018! In the three years since implementing the scheme, Bonitas says Best World&rsquo s co-chairmen and presidents Doreen Tan and Dora Hoan collectively took home $85 million in cash, while Best World exited 2018 with its trade and payables balance at an all-time high of $95 million and its receivables touching all-time lows at $5.2 million. Separately, 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. In May last year, Valiant Varriors took a shot at Venture Corp, claiming the manufacturer derived a whopping 30% of revenue from Philip Morris in 2017, putting itself at risk by depending on one single large e-cigarette buyer. &ldquo So how is Best World operating in China? Just one way: Best World has been and continues to operate an MLM scheme. We know this because of a simple reason: it continues to engage sales staff through a commissions-based model,&rdquo says Valiant in a blog called &ldquo Best World: The Worst Investment&rdquo which was available online at 10am. According to Valiant, under China laws, parties who introduce, lure or force others to join in MLM could have its relevant assets and illegal income confiscated. Those found guilty could also face a fine of up to RMB500,000 ($101,095) while serious violators could also face jail sentences of up to five years. Among other infractions, Valiant says Best World operates a total of four bonus mechanisms as well as more than seven tiers of selling in its China operations when the law only allows for three tiers of direct selling. And although Best World says it has a direct selling licence, Valiant says the licence only applies in Hangzhou. But even on this front, Best World has been selective with the truth. &ldquo In China, the direct selling scheme cannot exceed three layers as stipulated clearly by law. In BWI&rsquo s model, there are eight,&rdquo says Valiant, adding that all 33 franchisees listed on the Best World website are essentially owned and operated by salespeople who have attained the highest tier/level of Platinum Director. And while Best World claims that it no longer operates a direct selling model and that its franchises now sell their products through a retail presence, Valiant alleges the physical stores are just a front for its MLM business. &ldquo The so-called &lsquo lifestyle centres&rsquo are actually training centres for their lower-tiered sales people,&rdquo says Valiant, &ldquo Many of these centres are completely new, situated in residential apartment units. These spaces are used to recruit and train fresh blood and new sales people.&rdquo The short seller cites the example of former MLM company Quanjian which tried to skirt around China&rsquo s MLM rules by setting up 7,000 shops nationwide. &ldquo But it was busted and today the 3 billion-dollar business no longer exists,&rdquo says Valiant. https://www.theedgesingapore.com/best-world-hit-damning-report-short-seller-bonitas-research-shares-down-9
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bayduck Member	24-Apr-2019 15:05        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	Alternatively, long-term investors can stick to passive index funds. You get market returns, and the explosion of a single stock will not ruin you. Starship      ( Date: 24-Apr-2019 14:52) Posted: Basically, its really simple. Long-term real investors just stick to Ho Ching and her well-managed investments such as DBS, STE, Capitaland, Mapletree, etc, etc. The rest (i.e traders, speculators, shortists, gamblers) just stick to the daily Top 10 Threads in SJF.............
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guards80 Supreme	24-Apr-2019 15:03        guards80 About Contact  Quote this Post!
x 0   x 0  Alert Admin	RUN.!!! Starship      ( Date: 24-Apr-2019 13:49) Posted: Best World shares down 9% on attacks by short sellers Bonitas Research and Valiant Varriors 24/04/19, 01:03 pm SINGAPORE (Apr 24): Best World International, the distributor of skincare, nutritional and wellness products, has been hit by damning reports by two separate short sellers on Wednesday morning: Bonitas Research and Valiant Varriors. As at 1pm, shares in Best World are down 16 cents to $1.62 with 8.8 million shares traded. Bonitas says Best World is a &ldquo fraud&rdquo and alleges its sales in China are a fraction of what was reported to its shareholders. According to its website, Bonitas is founded by Matthew Wiechert, who also started Glaucus Resesarch who in 2013 issued a short seller report attacking vegetable processor China Minzhong which was later take private by its largest shareholder, Indonesian tycoon Anthoni Salim' s Indofood Sukses Makmur. &ldquo We are short Best World stock and believe its stock price will go lower,&rdquo says Bonitas in a Wednesday  report. In its report, Bonitas also questioned the motive of Best World&rsquo s management to appoint auditors PricewaterhouseCoopers (PwC) to conduct a limited, one-year independent review of its 2018 China franchise operations. The move came after The Business Times in February raised concerns over the challenges in tracking sales Best World&rsquo s DR' s Secret line of premium skincare products in China. &ldquo 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,&rdquo says Bonitas. Bonitas also alleges filings in China suggest that Best World fabricated at least $31 million of its reported 2017 sales to its &ldquo one major customer&rdquo called Changsha Best. According to Bonitas, Changsha Best is an &ldquo entity Best World management secretly controlled and exclusively created to be Best World&rsquo s off-books China counterparty&rdquo . &ldquo Excluding fabricated sales to Changsha Best, we calculate that Best World overstated its 2017 net profits by at least 130%,&rdquo says Bonitas. Bonitas also said it had, since January, communicated with 24 separate Best World China member representatives and have conducted field visits to 12 BWL Lifestyle Centers or 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,&rdquo says Bonitas. In addition, Bonitas says evidence suggests that since the publication of the BT article on Feb 18, 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. &ldquo We found that 8 of the 12 BWL Lifestyle Centers we visited did not sell individual products to non-members,&rdquo says Bonitas. Investigators working for Bonitas also said employees at BWL Lifestyle Centers disclosed and acted as though they were not accustomed to interacting with walk-in customers. &ldquo 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,&rdquo says Bonitas. Bonitas also alleges Best World&rsquo s founders exponentially accelerated their combined annual take home pay by 20 times in five years, from less than $2 million in 2013 to $40+ million in cash in 2018! In the three years since implementing the scheme, Bonitas says Best World&rsquo s co-chairmen and presidents Doreen Tan and Dora Hoan collectively took home $85 million in cash, while Best World exited 2018 with its trade and payables balance at an all-time high of $95 million and its receivables touching all-time lows at $5.2 million. Separately, 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. In May last year, Valiant Varriors took a shot at Venture Corp, claiming the manufacturer derived a whopping 30% of revenue from Philip Morris in 2017, putting itself at risk by depending on one single large e-cigarette buyer. &ldquo So how is Best World operating in China? Just one way: Best World has been and continues to operate an MLM scheme. We know this because of a simple reason: it continues to engage sales staff through a commissions-based model,&rdquo says Valiant in a blog called &ldquo Best World: The Worst Investment&rdquo which was available online at 10am. According to Valiant, under China laws, parties who introduce, lure or force others to join in MLM could have its relevant assets and illegal income confiscated. Those found guilty could also face a fine of up to RMB500,000 ($101,095) while serious violators could also face jail sentences of up to five years. Among other infractions, Valiant says Best World operates a total of four bonus mechanisms as well as more than seven tiers of selling in its China operations when the law only allows for three tiers of direct selling. And although Best World says it has a direct selling licence, Valiant says the licence only applies in Hangzhou. But even on this front, Best World has been selective with the truth. &ldquo In China, the direct selling scheme cannot exceed three layers as stipulated clearly by law. In BWI&rsquo s model, there are eight,&rdquo says Valiant, adding that all 33 franchisees listed on the Best World website are essentially owned and operated by salespeople who have attained the highest tier/level of Platinum Director. And while Best World claims that it no longer operates a direct selling model and that its franchises now sell their products through a retail presence, Valiant alleges the physical stores are just a front for its MLM business. &ldquo The so-called &lsquo lifestyle centres&rsquo are actually training centres for their lower-tiered sales people,&rdquo says Valiant, &ldquo Many of these centres are completely new, situated in residential apartment units. These spaces are used to recruit and train fresh blood and new sales people.&rdquo The short seller cites the example of former MLM company Quanjian which tried to skirt around China&rsquo s MLM rules by setting up 7,000 shops nationwide. &ldquo But it was busted and today the 3 billion-dollar business no longer exists,&rdquo says Valiant. https://www.theedgesingapore.com/best-world-hit-damning-report-short-seller-bonitas-research-shares-down-9
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Operator81 Senior	24-Apr-2019 14:54        Operator81 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You remind me of Chartered Semiconductor. Starship      ( Date: 24-Apr-2019 14:52) Posted: Basically, its really simple. Long-term real investors just stick to Ho Ching and her well-managed investments such as DBS, STE, Capitaland, Mapletree, etc, etc. The rest (i.e traders, speculators, shortists, gamblers) just stick to the daily Top 10 Threads in SJF.............
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Starship Supreme	24-Apr-2019 14:52        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Basically, its really simple. Long-term real investors just stick to Ho Ching and her well-managed investments such as DBS, STE, Capitaland, Mapletree, etc, etc. The rest (i.e traders, speculators, shortists, gamblers) just stick to the daily Top 10 Threads in SJF.............
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Operator81 Senior	24-Apr-2019 14:47        Operator81 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Of course they are not selling, instead they are buying. If not, how to make you buy? Give you a free 101 operator81 course for dummies (disclaimer: i am not saying you are one, this is the course name): sh: shareholder 1) sh1 own 30 percent 2) sh2 own 20 percent 3) sh3 own 10 percent 4) sh4 own 6 percent 5) sh5-sh10 each own 4 percent (no need to declare as it is below 5 percent) 6) the rest 10 percent own by public or retail investors. sh5-sh10 is my syndicate holding via different proxies. I am unloading part of these shares to the retail investors while using sh1 and sh2 to buy some so as to give confidence to those loyal shareholders who is buying and spreading my gospel. Of course, my company also do share buyback. Without prejudice, i just sharing my operator81 experience. I am not referring or inferring to any particular stock.   1035834      ( Date: 24-Apr-2019 14:12) Posted: if you check to annual report shareholding , the two founder only own 35% of shares and so far neither of them disposed of their share in market.  Operator81      ( Date: 24-Apr-2019 13:56) Posted: If i own a listed company and me and my syndicate own 90 percent of the shares. I push up the share price, unload it to retail investor thru the syndicate. Sell you $2.5 to $3. Dividend declare i am taking back 90 percent less those share that i unload between $2.50 to $3. Did i pay out a lot of money as dividend
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eagleeyes1989 Master	24-Apr-2019 14:44        eagleeyes1989 About Contact  Quote this Post!
x 1   x 0  Alert Admin	there were 0 reports about hyflux and look at it now. to those holding, i would advise to keep calm and not read too much into the accusations. but for sure, continue to monitor the news and see how the company responds. thats all we can do now.  tbh the reports arent even from reputable sources. who the hell knew about bonitas or valliant warriors before today? i also can go and set up a blog and call it " punani face" and accuse ABC ltd of fraud..  the thing is, all these reports are coming after the BT report in Feb and has further hit an already shaken confidence in the stock. it is a tough time for the company and also its holders.  best case scenario : privatization at an attractive prize worst case scenario : suspension likely scenario: lift of halt with a detailed explanation (similar to BT report rebuttal)  price will probably continue to fall due to shaken confidence, no matter how good the response is. unless the banks and institutions backing the company do a massive buy back and show some proper support.
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bayduck Member	24-Apr-2019 14:42        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well, but they did collectively own 65% post-IPO in 2004? Now they collectively own about 45%. Relating on prospectus and AR 2017 figures though, so correct me if I am wrong. 1035834      ( Date: 24-Apr-2019 14:12) Posted: if you check to annual report shareholding , the two founder only own 35% of shares and so far neither of them disposed of their share in market.  Operator81      ( Date: 24-Apr-2019 13:56) Posted: If i own a listed company and me and my syndicate own 90 percent of the shares. I push up the share price, unload it to retail investor thru the syndicate. Sell you $2.5 to $3. Dividend declare i am taking back 90 percent less those share that i unload between $2.50 to $3. Did i pay out a lot of money as dividend
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bayduck Member	24-Apr-2019 14:39        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	Never heard of Valiant Varriors before, and their research quality is rather bad (at least to me). Bonitas, on the other hand, is a rather skilled professional shortseller. So I give more weight to them. But they have vested interests in seeing BW crumble, of course. So they definitely will be somewhat biased. In the end, investors should rely on themselves when making the judgement.  You rely on your own assessment, and you take credit and blame for your own success/failure. Goldfinger      ( Date: 24-Apr-2019 14:35) Posted: Both reports are equally horrible - is there even a bit of truth in them?
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Goldfinger Supreme	24-Apr-2019 14:35        Goldfinger About Contact  Quote this Post!
x 1   x 0  Alert Admin	Both reports are equally horrible - is there even a bit of truth in them?
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s100125 Elite	24-Apr-2019 14:31        s100125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.theedgesingapore.com/best-world-hit-damning-report-short-seller-bonitas-research-shares-down-9 Those still holding this baby now Jialat!
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bayduck Member	24-Apr-2019 14:26        bayduck About Contact  Quote this Post!
x 0   x 0  Alert Admin	1) Get your friend to transfer a sum of money to your account. After audit, transfer the sum back to your friend. 2) Bribe the local bank staff to provide falsified records to the auditors (it actually happened to one of the S-Chips many years ago, can' t remember the name) There are many ways to go about committing crime in a way that' s harder to detect. So above all, only invest in businesses with management that you personally judge to be trustworthy. Sen9999      ( Date: 24-Apr-2019 14:05) Posted: --- Post Removed by User ---
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1035834 Senior	24-Apr-2019 14:12        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	if you check to annual report shareholding , the two founder only own 35% of shares and so far neither of them disposed of their share in market.  Operator81      ( Date: 24-Apr-2019 13:56) Posted: If i own a listed company and me and my syndicate own 90 percent of the shares. I push up the share price, unload it to retail investor thru the syndicate. Sell you $2.5 to $3. Dividend declare i am taking back 90 percent less those share that i unload between $2.50 to $3. Did i pay out a lot of money as dividend? 1035834      ( Date: 24-Apr-2019 13:44) Posted: But so far what is the motive for the management report fake sales and profit, they have no pressure in cash flow (need get bank loan etc), and every year 30-40% of its profit distributed as dividend . If this is a fake results, the company who  also need to have very deep pocket to come out with dividend.  ｉ ｈ ａ ｖ ｅ 　 ｎ ｅ ｖ ｅ ｒ 　 ｓ ｅ ｅ ｎ 　 ｓ ｕ ｃ ｈ 　 ｋ ｉ ｎ ｄ 　 ｏ ｆ 　 ｆ ｒ ａ ｕ ｄ 　 ？ 　 hyflux never seen any institute come out any report to warn investors?
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Starship Supreme	24-Apr-2019 14:05        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Even the valiant die-hard defenders of BW here in SJF will turn into shortists in the blink of an eye the moment it benefits them to do so................ Goldfinger      ( Date: 24-Apr-2019 13:58) Posted: With the beating this stock is receiving today and recently, who knows that in 2 months time it may already become a penny stock. How can this wonder-stock come to this???  Who will defend BW now??? dan123woo      ( Date: 24-Apr-2019 13:36) Posted: wait for 2 more months and relook at this post bruh. price will be a better indicator then (
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