Best World

Again, our SGX team is really keen to learn about BWL.
Which is an excellent ways to understand BWL as a MLM business.

This time round, the response is a bit Iron-Teeth.


I suspect SGX will issues another query to ask BWL:
How can anyone resolve their skin problems without the need for makeup?

Any way, SGX team is really keen in BWL as it's our only MLM coy,
and we must make sure everything goes on well.

Actually, their queries and response from BWL is really a good read
compare to those *boring* and meaningless company.

It's a weekend, enjoy a typical motivational video from a typical MLM company
  -  what's your dream?



 Love Compassion

Tell you a secret (if you had not read SGX queries),
despite China extremely high revenue growth generated in this Qtr,
MLM revenue had not start counting yet.

Good or bad news ?

Request for Trading Halt : Pending the release of an announcement.

(17-11-2016, 04:46 PM)cyclone Wrote: Good or bad news ?

Request for Trading Halt : Pending the release of an announcement.

China’s Ministry of Commerce announces Best World as latest addition to list of direct selling companies in China

Best World International Limited is pleased to update that the Ministry of Commerce (MOFCOM) has recognised the Group as the latest addition to the list of direct selling companies in China on its website (http://zxgl.mofcom.gov.cn), authorizing the Group to conduct direct selling in Hangzhou city. 

The Group's China direct selling licence which was granted on 30 June 2016 was subjected to the establishment and completion of the audit of all its nine service outlets in Hangzhou within six months of 7 June 2016. Moving forward, the Group intends to expand the geographical coverage of its direct selling licence to the other regions.

Since 2006, 80 direct selling licences have been approved as of to-date by MOFCOM, with only 29 licences issued to foreign enterprises, 26 of which being foreign based direct selling companies with global operations. In 2015, direct selling companies in China registered a growth of 19%, with total sales of more than RMB220 billion

http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

http://zxgl.mofcom.gov.cn/front/getEnter...0400049586

These are the initial 6 products approved by mofcom under BWZ's DS permit in Hangzhou.

IMO, the BWL line of products would not be admitted into the DS list before the Tuas Factory is operational in 3Q2017.

Until then it would be "business as usual under the export mode"
_________________________________________________________________________________________________________________________________________) 金蛋白粉

Written by Sim Kih @ 03-01-17



Celebration at Youku (unfortunately can not be integrated at vb.com).

Click below with your computer and wait patiently:
http://v.youku.com/v_show/id_XMTcxMTkwMjg2MA==.html

Love Compassion

I could be wrong but from the above photo, it appears to me that FY2016 Taiwan revenue came in at TWD 2,860 million (~ SGD 120 million) - assuming it is the case:

ð4Q2016 Taiwan Revenue ~ SGD 37.109 m (Higher than 3Q2016 revenue but not much higher than 2Q2016 revenue of SGD 35.068 m – would be a new quarterly record, nevertheless)
  
This would bring FY2016 Group revenue to about roughly SGD 200 m - which would be a new record - Assuming that 4Q2016 revenue for China and other markets stay flat i.e. same as 3Q2016.
 
If China and other markets performed better in 4Q2016 than 3Q2016, group revenue would be even higher…………….

It would be interesting to see how China perform in 4Q2016.................

Can BWL Taiwan scale new height in FY2017 or beyond ? Are there signs of revenue peaking (soon) in Taiwan? 

[Image: 1z3w8k5.jpg]

Boon,

How did you calculate the Q4 Taiwan sales?

I used 28.6Yi TWD for the whole year, covert over using exchange rate of 0.045, substrate the sales in pass 3 q of 20.22, 35.06, and 27.59, and got to S$45.84M

So Taiwan Q4 is an impressive record!

(09-01-2017, 01:25 PM)DCF Wrote: Boon,

How did you calculate the Q4 Taiwan sales?

I used 28.6Yi TWD for the whole year, covert over using exchange rate of 0.045, substrate the sales in pass 3 q of 20.22, 35.06, and 27.59, and got to S$45.84M

So Taiwan Q4 is an impressive record!

Hi DCF

https://www.oanda.com/currency/average

I used the above web site to work out the 2016 yearly AVERAGE which gives about 0.042

TWD 2,860 m converts to about SGD 120 m 
___________________________________________________________________________________________________________________________________

I used the current exchange rate, which is 0.045. Which is why we have different Q4 number.

The exchange rate for the full year swing between 0.04169 and 0,045. Do you know what basis BW use for their reporting?

(10-01-2017, 09:48 AM)DCF Wrote: I used the current exchange rate, which is 0.045. Which is why we have different Q4 number.

The exchange rate for the full year swing between 0.04169 and 0,045. Do you know what basis BW use for their reporting?

BWL Taiwan is a subsidiary of its parent, BWI.


The functional currency of BWL Taiwan is TWD.

BWI’s reporting currency is in SGD.

Hence, it involves translating the financial statements of BWL Taiwan for consolidation purpose into the reporting currency of BWI.
 
I do not know the relevant accounting rules governing the translation of “income statement items” such as revenue, as I am not an accountant.
 
But my guess would be at the exchange rate as of the dates when those items were initially recognized.
 
Using average exchange rate could be an acceptable alternative, I reckon, but not the “highest rate” of 0.045
_________________________________________________________________________________________________________