Best World

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Rainbow 
bwl - further extension

[Image: uc?id=11498s61wq0vCuCtY06FQvLgEwH-Fs-Q6]
https://drive.google.com/open?id=11498s6...gEwH-Fs-Q6

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bwl
APPROVAL FROM THE ACRA FOR FURTHER EXTENSION OF TIME TO HOLD THE AGM
https://links.sgx.com/FileOpen/2021%2009...eID=683234

The Board wishes to announce that on 9 September 2021, the Company received an email from ACRA notifying the Company that ACRA has approved a further extension time for the Company to: 
(a) hold the AGM for FY2020 by 27 September 2021 under Section 175 of the Companies Act; and 
(b) lodge its annual return for FY2020 with ACRA by 28 October 2021 under Section 197 of the Companies Act. 

The Company will announce the date of the AGM for FY2020 and dispatch the notice of AGM to Shareholders in due course.

[Image: screenshot-wechat-best-world-lifestyle.jpg]

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https://links.sgx.com/FileOpen/2021%2009...eID=683635

DISCLAIMER OF OPINION BY INDEPENDENT AUDITOR ON THE FINANCIAL STATEMENTS FOR
THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

On 16 March 2021, the Company announced that, following consultation with SGX RegCo, it believes that
the suspension of the trading of the Company’s shares will continue until the Group is able to make progress
on its transition to a direct selling model in China, as SGX RegCo continues to have some regulatory
concerns on the Group’s current sales and distribution model in China, which the Company has been
seeking to address
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
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Rainbow 
Make sense to transit to Direct selling (DS) model.

This was always what BWL wanted/planning to achieve.

With the DS model, the operation risk would be significantly reduced.

I was rather surprised when I saw BWL transit from Export Model into Franchise  Model.  Especially, when I saw the numbers growing under Franchise Model, I thought that's it! BWL is giving up on DS.

Let's hope that DS model is still pushing on and this would be good for BWL's future.


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Rainbow 
BWL 
1HFY2021 Result
https://links.sgx.com/FileOpen/2021%2009...eID=683862

[Image: uc?id=1Spv9ZWbxJ7S4DdrJCPgKk2L9Bup92oiC]
https://drive.google.com/open?id=1Spv9ZW...L9Bup92oiC

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The results are pretty good despite them transiting to a Direct Selling model. The free cash flow generated is consistent and is abt $120 million per year.

Its a debt free company which means it can even afford to give dividends in proportion to its cash flow generation. If we can value it at 10x times FCF, Best World is a $1.2 billion company which means there is more than 50% upside
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Rainbow 
100% agree.  
BWL is a good company and looking forward to the resume of trading in SGX.



Gratitude.
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