Best World

[dreamybear]

Oh ok, thanks. I guess u meant people profiting from insider trading.

Well, I think they are lucky to have the right business connections, at the right place and at the right time, but more importantly, they are willing to run the risk of getting caught.

[Shiyi]

Oh ok, thanks. I guess u meant people profiting from insider trading.

Well, I think they are lucky to have the right business connections, at the right place and at the right time, but more importantly, they are willing to run the risk of getting caught.

Talking about business connection.
Nextinsight website keeps putting on a positive spin on Best World.
Not too long ago, two former analysts came out and wrote a scathing attack on BT reporter who raised questions on BW business model.
Today, two large pictures of BW celebrating annual convention in Sydney.

[brattzz]

Yeah, these are the opposites indicators! Just do the direct opposites of what they say/spin! 🤣🤣🤣

[Shiyi]

Valiant Varriors fired another salvo and gave zero value to BW.
https://valiantvarriors.wixsite.com/home...ro-to-zero.

[dreamybear]

Finally, an official announcement to update the previous initial plan to hold AGM by 30 Jun 2019. Felt that the mgmt shd have announced it earlier when the due date to distribute Annual Report has passed. 
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Approval For Further Extension Of Time To Hold The Annual General Meeting For The Financial Year Ended 31 December 2018
Announcement Date : 25 Jun 2019

........ As the Compliance Notice significantly expanded the scope of the Review, the Review will not be completed by June 2019, as previously  anticipated. Based on the Independent  Reviewer’s estimated timeline for completion of the Expanded  Review, the Company applied for a further extension of time to hold the AGM by 31 October 2019 on the basis that the Board believes that the objective of the Expanded Review would be better achieved if the AGM is postponed until the Independent Reviewer completes the Review and the executive summary of its key findings have been announced on SGXNet.  This would enable the Shareholders to have more information on the Group’s Export Model and Franchise Model and to clarify any questions that they may have at the AGM.  In view of the suspension of trading of the Company’s shares, the extension of time to hold the AGM by 31 October 2019 will not adversely affect the trading in the Company’s shares or the interests of Shareholders .....

More details : http://bestworld.listedcompany.com/newsr...RRW3.1.pdf

[dreamybear]

EXPANDED SCOPE OF INDEPENDENT REVIEW
Date Of Announcement : Jul 15, 2019 23:35

The Board of Directors (the “Board”) of Best World International Limited (the “Company” or and together with its subsidiaries, the “Group”) refers to the Notice of Compliance issued by SGX RegCo on 13 May 2019 (the “Notice”) and the announcement dated 19 March 2019 in relation to the appointment of the independent reviewer (the “Independent Review Announcement”).  ...........

Objectives of the Independent Review

Following the issuance of the Notice, SGX RegCo has required the Company to expand the scope of the independent review. The Company would like to announce that the scope of the expanded independent review has been finalised and approved by SGX RegCo with the following objectives:

(a) To establish the facts and circumstances surrounding the establishment, appointment and business relationship with Changsha Best (the “Primary Import Agent”).

(b) To verify the sales to the Primary Import Agent and other import agents used by the Group in the China market, if any, for the period from FY2015 to FY2018 under the export model, and ascertain if these transactions were on normal commercial terms and conducted at an arm’s length basis.

© To validate the cash received from the sales to the distributors/ customers by the Primary Import Agent.

(d) To identify any lapses in the Group’s internal control procedures and its corporate governance practices in respect of the work and make appropriate recommendations on any internal control weakness(es).

(e) To identify any potential breaches of Singapore listing rules, regulations or laws.

The independent review is currently in progress......

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More details : http://bestworld.listedcompany.com/newsr...6GXC.1.pdf

[CY09]

I am more interested in seeing the outcome of the audit report than the process and scope

Both co-chairwomen have affiliations to the People's Action party (PAP) in the sense of being patron and vice chairperson of CCC in Radin Mas and Pasir Ris GRC respectively. If their business indeed have serious lapses/breach of law, I wonder what damage will there be politically

[brattzz]

The scope and dates determines the findings sir! 👍👍👍

[Shiyi]

Nu Skin shares plunge 16% as China crackdown hits revenues

Shares of Nu Skin Enterprises, which distributes health and beauty products via direct selling, tanked on Wednesday after the company said China’s crackdown on health products is weighing on sales.

The company’s stock fell more than 16% on Wednesday, hitting a new 52-week low.
Shares of Nu Skin are down more than 40% in the last 12 months and down more than 25% year to date.

[dreamybear]

Interestingly, I came across this company whose products' packaging look very similar to BW(or at least to me as I can easily differentiate btw BW and Nuskin) : https://www.vitaphile.com.tw/ct/index.php

On other news, BW seems to be launching a lipstick range(under DR Secret) : https://www.drs-secret.com/lip-products , which hopefully heralds a foray into make-up products.


Info on China's cosmetics mkt (dd 17 Jul 2019) : http://china-trade-research.hktdc.com/bu...002L09.htm