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1035834 Senior	13-May-2019 09:42        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	this year AGM must be very excited .
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michaeltan Master	13-May-2019 09:38        michaeltan About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	Precaution is needed. SGX also don' t want suddenly halt or suspend again. Operator81      ( Date: 13-May-2019 09:07) Posted: You think sgx trying to protect BW from short attacking? This is hilarious. michaeltan      ( Date: 13-May-2019 08:59) Posted: SGX is likely would not lift the suspension so soon as precaution of further unpredicted attack from short seller
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stockpicker Master	13-May-2019 09:35        stockpicker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Grab a pop corn... the fights continues   episode 3 coming on line soon?  BWL Directors working over time for these 2 Short Sellers.. no need to work liao..
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Starship Supreme	13-May-2019 09:26        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Best World confirms CEO' s brother-in-law connection to main customer in China, discloses other connections MON, MAY 13, 2019 - 9:17 AM 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. 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. &ldquo Koh Kim Chuan and Mary Huan had never been involved in the management or business operations of the primary import agent or the group,&rdquo Best World said. Changsha Best, meanwhile, was incorporated by Yan Weijun and his team of executives, who took on the role of general manager of Changsha Best, and was responsible for its business operations. As part of the group&rsquo s transition to the franchise model, Changsha Best&rsquo s distribution agreement with Best World was terminated on Sept 30, 2018. Mr Yan and his team of executives joined BWL China to allow for a &ldquo seamless transition from the export model to the franchise model&rdquo , given their familiarity with the group&rsquo s operations under the export model. Mr Yan is the marketing director of BWL China, responsible for marketing and branding for the group in China. His spouse also owns a franchisee under Best World&rsquo s standard franchise arrangement, the company said. Best World added that its relationship and transactions were governed by terms the distribution agreement struck on Aug 1, 2015 with Changsha Best, agreed on a willing-seller and willing-buyer basis after discussions conducted at an arm' s length basis. It was also conducted by Huang Ban Chin, director and chief operating officer of Best World.  The distribution agreement allowed Best World to advise on the overall marketing strategy for the products in China, provide product and sales management training to Changsha Best employees and distributors and provide promotional materials regarding the products.  It also said that Ms Hoan was not involved in the company' s decision to partner Changsha Best, or " save as disclosed" , in the group' s dealings with Changsha Best. Other than through her shareholding interest in the company, Best World said that Ms Hoan " had no personal interest whatsoever" in the sales  by the group to Changsha Best and received no  financial benefits from the primary import agent.  " Dora Hoan has personally affirmed to the company that, to the best of her knowledge and belief, the primary import agent is independent of the group, as disclosed in this announcement, and that she  has no financial or shareholding interest in the primary import agent," the group said.  The board of directors added that &ldquo save as disclosed&rdquo in the announcement, Changsha Best is independent of the group, its directors, substantial shareholders and their associates for the reasons set out under its assessment of independence, Ms Hoan' s affirmation, and  confirmations from Mr Koh, Mr Tang and Mr Yan that the statements made in the announcement relating to each of them are &ldquo true and accurate&rdquo . Best World added that it would make the distribution agreements entered with Changsha Best available for its independent review with PwC. It would also procure all necessary records from Jan 1, 2017 to May 31, 2018 from Changsha Best for PwC&rsquo s review of the group&rsquo s sales to Changsha Best during that period. " The company regrets the confusion and unease caused by its failure to provide a fuller picture of the ownership of the primary import agent. However, the management of the company has dealt with the primary import agent as an independent third party at all times, and believes that the primary import agent is independent of the group for the following reasons,&rdquo it said. https://www.businesstimes.com.sg/companies-markets/best-world-confirms-ceos-brother-in-law-connection-to-main-customer-in-china
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Operator81 Senior	13-May-2019 09:07        Operator81 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You think sgx trying to protect BW from short attacking? This is hilarious. michaeltan      ( Date: 13-May-2019 08:59) Posted: SGX is likely would not lift the suspension so soon as precaution of further unpredicted attack from short seller. 1035834      ( Date: 13-May-2019 08:51) Posted: https://www.asiaone.com/business/conflicts-interest-how-would-one-know Brother in law is not categorized under immediate family members , now i only hope sgx find a way to verify every sales transactions to ensure it is genuine.
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zillion Master	13-May-2019 09:05        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now it is sgx's turn to continue interrogation until satisfactory to lift Suspension. michaeltan      ( Date: 13-May-2019 08:59) Posted: SGX is likely would not lift the suspension so soon as precaution of further unpredicted attack from short seller. 1035834      ( Date: 13-May-2019 08:51) Posted: https://www.asiaone.com/business/conflicts-interest-how-would-one-know Brother in law is not categorized under immediate family members , now i only hope sgx find a way to verify every sales transactions to ensure it is genuine.
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kerier Veteran	13-May-2019 09:00        kerier About Contact  Quote this Post!
x 0   x 0  Alert Admin	BW declared they have a nephew and SIL of the CEO working as group managers in the company. So any reason for them to not report this?  1035834      ( Date: 13-May-2019 08:51) Posted: https://www.asiaone.com/business/conflicts-interest-how-would-one-know Brother in law is not categorized under immediate family members , now i only hope sgx find a way to verify every sales transactions to ensure it is genuine.
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michaeltan Master	13-May-2019 08:59        michaeltan About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	SGX is likely would not lift the suspension so soon as precaution of further unpredicted attack from short seller. 1035834      ( Date: 13-May-2019 08:51) Posted: https://www.asiaone.com/business/conflicts-interest-how-would-one-know Brother in law is not categorized under immediate family members , now i only hope sgx find a way to verify every sales transactions to ensure it is genuine.
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1035834 Senior	13-May-2019 08:51        1035834 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.asiaone.com/business/conflicts-interest-how-would-one-know Brother in law is not categorized under immediate family members , now i only hope sgx find a way to verify every sales transactions to ensure it is genuine.
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kerier Veteran	13-May-2019 08:50        kerier About Contact  Quote this Post!
x 0   x 0  Alert Admin	The primary question has always been is the demand real? Are the sales really that good in China? How about the other countries?  michaeltan      ( Date: 13-May-2019 08:42) Posted: (a) while Koh Kim Chuan was the sole shareholder and legal representative of the Primary Import Agent, he was a passive investor, and neither he nor his wife, Mary Huan, were involved in the management or business operations of the Primary Import Agent or the Group.  (b) Yan, who is not related to the Directors or substantial shareholders of the Company or their associates, was responsible for the management and business operations of the Primary Import Agent   (c) the Company&rsquo s relationship and transactions with the Primary Import Agent were governed by the terms of the Distribution Agreement, which was agreed on a willing-seller and willing-buyer basis, after discussions conducted on an arm&rsquo s length basis   Important the business transaction is genuine and each transaction business payment is well received. At least you don' t have to worry so much in doing business with the Primary Import Agent and the term is likely in favour to BW of which strictly adhere to the term of the Distribution Agreement.  stockpicker      ( Date: 13-May-2019 08:38) Posted: Whether happy or not,  the facts that ChangSha Best' s boss is related to BWL' s founder is never an indication that a crime has been committed nor any rule has been broken.  So far,  the records of BWl is saying that ChangSha Best is a direct customer of BWL Singapore.  Even if one can say that BWL had this set up with purpose for tax avoidance,  there is no proof one can construe that BWL has broken any China' s GAAR ruling as BWL can show that it is above board with proper tranaction records between ChangSha Best and BWL Singapore.  https://skyjuiceiswater.blogspot.com/2019/04/best-world-lifestyle-bwl-and-its.html Think the Short Sellers will have to come up more concrete evidences that BWl has committed fraud or else,  they could be in trouble.
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zillion Master	13-May-2019 08:48        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	Congrats, so fast they fix it up - got someone to swallow the dead cat. michaeltan      ( Date: 13-May-2019 08:42) Posted: (a) while Koh Kim Chuan was the sole shareholder and legal representative of the Primary Import Agent, he was a passive investor, and neither he nor his wife, Mary Huan, were involved in the management or business operations of the Primary Import Agent or the Group.  (b) Yan, who is not related to the Directors or substantial shareholders of the Company or their associates, was responsible for the management and business operations of the Primary Import Agent   (c) the Company&rsquo s relationship and transactions with the Primary Import Agent were governed by the terms of the Distribution Agreement, which was agreed on a willing-seller and willing-buyer basis, after discussions conducted on an arm&rsquo s length basis   Important the business transaction is genuine and each transaction business payment is well received. At least you don' t have to worry so much in doing business with the Primary Import Agent and the term is likely in favour to BW of which strictly adhere to the term of the Distribution Agreement.  stockpicker      ( Date: 13-May-2019 08:38) Posted: Whether happy or not,  the facts that ChangSha Best' s boss is related to BWL' s founder is never an indication that a crime has been committed nor any rule has been broken.  So far,  the records of BWl is saying that ChangSha Best is a direct customer of BWL Singapore.  Even if one can say that BWL had this set up with purpose for tax avoidance,  there is no proof one can construe that BWL has broken any China' s GAAR ruling as BWL can show that it is above board with proper tranaction records between ChangSha Best and BWL Singapore.  https://skyjuiceiswater.blogspot.com/2019/04/best-world-lifestyle-bwl-and-its.html Think the Short Sellers will have to come up more concrete evidences that BWl has committed fraud or else,  they could be in trouble.
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Operator81 Senior	13-May-2019 08:46        Operator81 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Like what I shared, after suspension is capitulation. Those in denial will say they only buy very little and they can afford to lose those 💰 . After so much warning and chances to escape, they still willingly get killed. Many fools and their money already parted. Really need a heavy downpour during BW hong lim park protest to wake these people up.  I have not seen so many people giving warning and ask people to escape in previous counters. I hope there are more people like michaeltan who managed to escape. Shifu8888      ( Date: 12-May-2019 18:50) Posted: Go read the announcement. They said 13th May (Monday) before 8.30am. Why are you so impatient? You heavily vested? Innocent unless proven guilty. Leehonghng      ( Date: 12-May-2019 18:02) Posted: They are not able to answer a few simple queries as requested by SGX! You think what type of company they are??? The peoples behind the door are able to address the matters to both SGX, BR and VV, this will lead to have more issues from all parties concerned. The counter will be continue being suspended and will drop to as low as 10 to 20 cents.
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zillion Master	13-May-2019 08:46        zillion About Contact  Quote this Post!
x 0   x 0  Alert Admin	From now on it is deny deny deny then gone case Qanghoo      ( Date: 13-May-2019 08:25) Posted: My sense is game over for BWI.
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michaeltan Master	13-May-2019 08:42        michaeltan About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	(a) while Koh Kim Chuan was the sole shareholder and legal representative of the Primary Import Agent, he was a passive investor, and neither he nor his wife, Mary Huan, were involved in the management or business operations of the Primary Import Agent or the Group.  (b) Yan, who is not related to the Directors or substantial shareholders of the Company or their associates, was responsible for the management and business operations of the Primary Import Agent   (c) the Company&rsquo s relationship and transactions with the Primary Import Agent were governed by the terms of the Distribution Agreement, which was agreed on a willing-seller and willing-buyer basis, after discussions conducted on an arm&rsquo s length basis   Important the business transaction is genuine and each transaction business payment is well received. At least you don' t have to worry so much in doing business with the Primary Import Agent and the term is likely in favour to BW of which strictly adhere to the term of the Distribution Agreement.  stockpicker      ( Date: 13-May-2019 08:38) Posted: Whether happy or not,  the facts that ChangSha Best' s boss is related to BWL' s founder is never an indication that a crime has been committed nor any rule has been broken.  So far,  the records of BWl is saying that ChangSha Best is a direct customer of BWL Singapore.  Even if one can say that BWL had this set up with purpose for tax avoidance,  there is no proof one can construe that BWL has broken any China' s GAAR ruling as BWL can show that it is above board with proper tranaction records between ChangSha Best and BWL Singapore.  https://skyjuiceiswater.blogspot.com/2019/04/best-world-lifestyle-bwl-and-its.html Think the Short Sellers will have to come up more concrete evidences that BWl has committed fraud or else,  they could be in trouble.   runaway      ( Date: 13-May-2019 06:57) Posted: I dont think SGX is happy to accept the explanations. Just wait for rebuttal and more queries. SGX doesnt suspend a listed member lightly.
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stockpicker Master	13-May-2019 08:38        stockpicker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Whether happy or not,  the facts that ChangSha Best' s boss is related to BWL' s founder is never an indication that a crime has been committed nor any rule has been broken.  So far,  the records of BWl is saying that ChangSha Best is a direct customer of BWL Singapore.  Even if one can say that BWL had this set up with purpose for tax avoidance,  there is no proof one can construe that BWL has broken any China' s GAAR ruling as BWL can show that it is above board with proper tranaction records between ChangSha Best and BWL Singapore.  https://skyjuiceiswater.blogspot.com/2019/04/best-world-lifestyle-bwl-and-its.html Think the Short Sellers will have to come up more concrete evidences that BWl has committed fraud or else,  they could be in trouble.   runaway      ( Date: 13-May-2019 06:57) Posted: I dont think SGX is happy to accept the explanations. Just wait for rebuttal and more queries. SGX doesnt suspend a listed member lightly.
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Qanghoo Supreme	13-May-2019 08        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	It wldn' t surprise me if the short sellers drop another bomb today ..... guavaMoment      ( Date: 13-May-2019 08:25) Posted: SGX did them a favor by putting them on suspension. But it won' t help. The longer you delay without significantly good news, the more the tidal wave of selling will be. Superkilat      ( Date: 13-May-2019 01:21) Posted: Short seller will not do knockout punch tmr as trading remains suspended. They will do so only when trade resumes. So, expect truce for longer time.
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Leehonghng Member	13-May-2019 08:27        Leehonghng About Contact  Quote this Post!
x 0   x 0  Alert Admin	The stupid guys provide the stupid answers, and the con peoples give all sorts of con answers! Let our SGX to settle with them for the same. runaway      ( Date: 13-May-2019 06:57) Posted: I dont think SGX is happy to accept the explanations. Just wait for rebuttal and more queries. SGX doesnt suspend a listed member lightly.
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Qanghoo Supreme	13-May-2019 08:25        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	My sense is game over for BWI.
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guavaMoment Senior	13-May-2019 08:25        guavaMoment About Contact  Quote this Post!
x 0   x 0  Alert Admin	SGX did them a favor by putting them on suspension. But it won' t help. The longer you delay without significantly good news, the more the tidal wave of selling will be. Superkilat      ( Date: 13-May-2019 01:21) Posted: Short seller will not do knockout punch tmr as trading remains suspended. They will do so only when trade resumes. So, expect truce for longer time.
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Tiger04 Senior	13-May-2019 08:19        Tiger04 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You see why they need more days to respond. Whatever they say will be bashed by shortists. Every which way also 'Buay Gum'. All brought out microscope word by word scrutinizing. Moreover, they also need to reaffirm investors
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