Best World

Were you there too>? Wow thats a quite a crowd

Best World has received SGXRegco's approval to hold 2018 AGM by 31 Oct 2019.

links.sgx.com/FileOpen/2019%2006%2025%20...cement&FileID=564598

Given the timing of the FY2018 AGM, we can expect that BW will pay an interim dividend (FY2019) in Sept 2019 first, ahead of the FY2018 final dividend.

It will be a historic first in SGX history.

Super 2Q results, with profit up 193% to $26.8 million .

Interim Dividend of 1.2 cents to be paid on 28 Aug 2019.

(bad news for shortists:
You have to cough up 1.2 cents a share for the scrip you borrowed to short-sell. On top of that, you have to continue paying borrowing fees (6% p. a., CDP rate) until trading resumes and you have covered your short position. Trading resumption is expected to take place in Oct 2019.

BW announcement on 28 Aug 2019:

The Board engaged the Company’s auditors, Ernst & Young LLP (“EY”), to conduct certain agreed upon procedures (“AUP”) in respect of a list of significant cash receipts from the People’s Republic of China (“PRC”) during the period from 1 January 2019 to 30 June 2019 as identified by management and agreed by the Audit Committee (“AC”). The AUP conducted by EY were to agree key details of the significant cash receipts identified by management and agreed by the AC to the Company’s monthly bank statements and remittance advices.

No adverse findings were reported by EY in relation to the AUP performed.

links.sgx.com/FileOpen/2019%2008%2028%20...cement&FileID=576452



Simple layman interpretation:
EY checked, double-checked that cash inflows from China subsidiaries Jan-June 2019 matched BW's Singapore bank account receipts. Cashflow from China confirmed, lah