01-11-2021, 07:41 AM (This post was last modified: 01-11-2021, 07:44 AM by Corgitator.)
(31-10-2021, 03:30 PM)DCF Wrote:
(31-10-2021, 09:42 AM)CY09 Wrote: Hi Kelvesy,
Thanks for the support. If you wish to help, it will be good if an email be sent to SGX Regco (representing Growth Investing Community) to petition specifically to Best World International. It can be done in the capacity of either (i) representing some of your community who are Best World Shareholders or (ii) as non shareholder, such as I, who wrote in the interest of the investing community.
If enough volume is received, the head of SGX feedback will take note. You may wish to amend from my initial version factoring the inputs of other VB member (i.e. "Best World is suspended and not de-listed") to improve the factual accuracy of the email that will be sent in the capacity of your investing community.
I'm sure many will support. Asking Regco to let BWL delist is one option, but a better one will be for Regco to let BWL resume trading, and Regco to be open and transparent in the suspension and lifting process, stick to what the Head of Regco said in the video - they do not regular commercial decision. How BWL want to play in China is a commercial decision!
If the moderator can start a petition, happy to get my fellow investment community to support. Thanks in taking a lead!
There is a difference between commercial decisions (e.g. pricing strategy, cost structure, marketing) and legality of business. Amongst other things, SGX requires Best World to confirm the legality of the business and compliance with PRC regulations, something that Best World has yet to do.
Of course, many people say that in China, you can't possibly get written permits/licenses for everything, especially if you operate in a grey area. But this is a Singapore stock exchange, and I think listed companies ought to respect the rule of law here.
I personally think that too many BW investors are pointing the gun at the wrong person (regulators), instead of looking at themselves as well as the BW management. SGX has never denied BW the power to pay a dividend, yet BW just chose not to pay one. Given the purported cash holdings in BW as well as the pessimism surrounding the business, management could easily do an MBO with some bit of bank financing and their personal wealth, yet they chose not to do so.
The purpose of a stock exchange is to provide a platform to match buyers to sellers, with both parties having access to all material information that will allow them to judge the value of the business. Given that there's still uncertainty over the legality of the business, as well as the accounting, how can trading be resumed and buyers/sellers be allowed to trade with incomplete information?
01-11-2021, 11:24 AM (This post was last modified: 01-11-2021, 11:30 AM by brattzz.
Edit Reason: investors being biases and illogical!
)
that's very true,
The fact of the matter is that SGXRego didn't get paid tens of 10 millions while waiting for BW to clarify it's business legality in china... it's BW's mgmt that got paid while failing to prove to SGXRego/Auditors on its china business's legality!
Investors should be asking BW's mgmt why is it so, and why has BW stop paying dividends to investors while BW is able to pay increasing fees/tens of millions amount to it's mgmt!!! :O
Investors are indeed biased and given a long enough time stuck in BW, become illogical and irrational! :O
BW can still pay dividends to waiting investors too while working with auditors/SGXRego, if they want to! instead, they choose not to! :O that says a lot about the mgmt already!
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!
Seems like the company heard some of us. What's important is a fair exit price for shareholders.
I believe some of their distributors are also shareholders, and they should play fair to their own distributors. I hope there is no low-ball offer price.
Thanks. Just curious, as layman investors will look at easy metrics to judge if Best World delisting is fair or otherwise.
Do you know of Direct Selling peers and their 5 year P/E? This way we can evaluate what is a good PE range for Best World and then use its EPS to determine a fair price.
13-11-2021, 12:27 AM (This post was last modified: 13-11-2021, 12:34 AM by dreamybear.)
Dear buddies,
My heartfelt thanks to all(shareholders, non-shareholders) for contributing to the discussion/taking action one way or another after my sharing the petition("plea for help")post a few weeks ago.
It is heartening to see this amt of active discussion once again. I also salute the petition organizer for copying PMO/MAS(Petition > Updates). At the end of the day, even if the petition or valuebuddies discussion/action weren't the necessary trigger, it is good moral support for minority shareholders as we hope to be heard and our concerns looked into.
Sometimes, I do wonder what I could have done if I could turn back the clock. At the same time, I also wonder what BW could/should have done with regards to the China business model which seems to be unable to meet listing requirements.
In any case, I hope there can soon be a fair closure or resolution that can satisfy all parties.
13-11-2021, 05:18 PM (This post was last modified: 13-11-2021, 07:47 PM by dreamybear.)
Thought the article is an interesting read which also brings to mind .... I wonder if there are any replies from RegCo for buddies who had written in if don't mind sharing ?
Regardless of the outcome, I am very grateful for your efforts.
I hope BWL mgmt will not low ball their reported profits going forward and push their offer price down. They should be mindful that they are an MLM company and confidence of their agents in their mgmt integrity and company prospects is critical to sustaining the business.
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