Best World

[dreamybear]

Yes, the 7 Feb 2020 announcement on the requirement for BW to perform quarterly reporting is "good" news to me as an investor.

However, rec'd disappointing news from BW on Valentine's day. It's already not bear's "valentine" stock though.  

The indicative date for the announcement of executive summary of Independent Review report is pushed back to 20 Mar 2020.

While understandable with the ongoing situation(travel restrictions, lockdown, etc) in China, it's nevertheless an unfortunate time not to be able to get timely updates with the Chinese mkt being the main revenue/profit generator. Then again, BW is still suspended. For reference, Nuskin's* share price has also undergone a heavy correction in recent days, nearing a 5 year low.

There's no announcement of 1Q2020 results timeline yet but at this point I am not too optimistic that the usual timeline can be met(hopefully I am wrong).

While it's reassuring that nothing amiss has been reported thus far, the latest developments may result in the shares being suspended for more than a year(taking into a/c cumulative periods since 2019). I hv always(and still) believed in the three founders but thought that the whole issue cld have been handled better(perhaps it's beyond their control I wldn't know). I guess what cld help to comfort the shareholders wld be a clean bill of health from the independent reviewer, as well as successful resoluton of the legal case with Bonitas if there is any eventually.

Best World takes Bonitas to Court for defamation

Separate Bonitas Case
Rural Funds kicks off legal action against short-seller Bonitas
Rural Funds wins unprecedented case against activist short seller bonitas

*"...Following the recent coronavirus outbreak, we placed a temporary hold on all in-person meetings with our sales force and customers in Mainland China...For the year, we are projecting a decline in sales in Mainland China of 20 to 25 percent..." Nu Skin 2019 Results & 2020 Guidance

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Application for Further Extension of Time

In light ofthe disruptions caused by Covid-19, the Company has submitted an application to SGX RegCo for:
(a) 4Q2019 unaudited financial statements: an extension of two (2) months to announce its unaudited financial statements for the fourth quarter and full year ended 31 December 2019 by 30 April 2020 under Rule 705(1)(“4Q2019 Financial Results”);
(b) FY2018AGM: a further extension of four (4) months to hold the FY2018 AGM by 30 June 2020 in accordance with Rule 707(1); and
© FY2019 AGM: an extension of five (5) months to hold the FY2019 AGM by 30 September 2020 in accordance with Rule 707(1)

http://bestworld.listedcompany.com/newsr...PNV8.1.pdf