Best World

[dreamybear]

suspension should be lifted - timeline not sure thou.  

Interesting, may I request you to explain why you think it will be lifted ?

The previous proposal didn't work out : Was it due to audit opinion ? Were there other issues that have been addressed since the first proposal ? I have no clear answers, so for me, I think it cld still go either way for this round - resume or remain suspended.

Historical Timeline :
Nov 2020 - Submission of Trading Resumption Proposal
Dec 2020 - Proposal Update
Mar 2021 - Proposal Update
Nov 2021 - Update of Future Plans - company announce consider delisting and appointed Alpha Advisory(financial advisor) / RHTLaw Asia LLP (legal advisor)

But if I were the controlling shareholder, I would have privatized already .... 

[¯|_(ツ)_/¯]

@dreamybear - based on today announcement, SGX given the no-objection to resumption.

Timeline - still unknown as it will depends on how fast BWL moved.

I do hope that this timeline could be stretched as I'm really keen to see desperate share holders selling down.

https://links.sgx.com/FileOpen/2022%2010...eID=733566 

Gratitude!

[CY09]

The point on legal opnion is the stumbling block. They need a legal firm to stand up to say their business in China is legal.'

If they can get a lawyer who is willing to stand up to say it is, it will be good

[brattzz]

The point on legal opnion is the stumbling block. They need a legal firm to stand up to say their business in China is legal.'

If they can get a lawyer who is willing to stand up to say it is, it will be good

the very fact this point remains open for so long, means exactly that it is....

:O :O :O

[CY09]

https://links.sgx.com/FileOpen/2022%2011...eID=737173

Company has met all the requirements listed out by SGX regco and will be applying for resumption from suspension on 14 November 2022. It has been a long journey thus far for investors.

With a law firm willing to stick their neck out, I dont think SGX Regco has anymore grounds to interefere

[dreamybear]

BW has requested for resumption of trading wef 14 Nov 2022 9 a.m.
https://links.sgx.com/1.0.0/corporate-an...ddc5de30fe

Investors may want to note that there are future conditions to be fulfilled - not sure what are the chances of/what will happen if they are not fulfilled* for any unforeseen reasons.

Nevertheless, looking fwd to Mon after such a long time ....

-----------------------

Best World to resume trading after 3.5-year suspension (paid article)
https://www.businesstimes.com.sg/compani...suspension

3Q2022 Financial Statement
https://links.sgx.com/FileOpen/2022%2011...eID=738534

*UPDATE ON FUTURE PLANS OF THE COMPANY – APPROVAL OF THE RESUMPTION OF
TRADING PROPOSAL / COMPLIANCE WITH THE CONDITIONS IN THE NO-OBJECTION NOTIFICATION LETTER
FROM SGX REGCO ON THE RESUMPTION OF TRADING PROPOSAL
https://links.sgx.com/FileOpen/2022%2011...eID=737173

[weijian]

Time flies (3.5 years) and long suffering shareholders finally have "some liquidity".

I had thought many would be rushing for the exits, putting pressure on the stock price but it seems to be the other way around?

Good to be using this as a real example case study of the long-held popular maxim of value investing (ie. buy a stock and lock up the certificate for the next 3.5years) and appreciate the differences of theory/practice.

Hot stock: Best World surges 30% on morning of trading resumption

SHARES of Best World International : CGN +25% saw incremental gains early on its first day of trading, after a 3.5-year-long suspension due to regulatory concerns over the company’s business model in China. 

https://www.businesstimes.com.sg/stocks/...resumption

[CY09]

I am not sure if it falls within value investing. The share prices doubled in 3 months from $1.50 to $3.00 and then took another 3 months to collapse to $1.60 level. Then there was further shorting and it went down to $1.36

It was a stock that was being pulled up and down by speculators. Now at $1.63. It seems to have gone full circle.

[dreamybear]

Well, I am also surprised by the strong showing after such a long absence. Furthermore, there seems to be some form of trading restrictions imposed by the various brokers (need confirmation). I wonder how many shareholders who accepted the $1.36 EAO bought back from the mkt today.

On those issues of value investing/preferably holding forever etc, after going thru' this ordeal, my view is it is more relevant when one buys a controlling stake. For the OPMIs, it could well have gone another way - BW cld have been delisted* (& perhaps at OPMIs' non-preferred price) during the suspension period and OPMIs would not be able to realize the value (high cash balance, strong cash flow generation etc) of the company.

*11 Nov 2021 company announcement

[CY09]

Yes, those who had "weak hands" or mention (was in their telegram chat) it was more worth while to accept the offer and rotate out to US/China Tech in Jan 2022, on hindsight, would have regretted it.

As OPMI, we are at the mercy of the controlling shareholders. OPMIs could have banded together and mount a challenge against the controlling shareholders. However as seen in the Best World Telegram chat and Sembcorp Marine rally against the merger, it is a big hurdle to unify a large enough pool of OPMI. If we are to take reference to Malaysia politics, it was like how Anwar, Mahatair and a few others banded together against UMNO but then halfway through, the sheraton movement occurred which resulted in the alliance breaking apart.

The moment a few OPMIs are swayed, OPMIs will lose an upper hand against the controlling shareholder even before being able to mount a challenge