bwl_dora_monk
Best World CEO Dora Hoan with the chief monk of a new temple in Yangon. 'bwl' (short for Best World Lifestyle) is honoured for donations to the temple by Best World's distributors in Singapore and its agent and sales reps in Myanmar.

 

bwl_myanmar_distributors
Best World's Myanmar agent and sales reps inside the temple.

  

bwl_ceiling
The 'bwl' logo is prominent in this signboard near the ceiling in the temple. On the right is a photo of the chief monk.
Donations by Best World distributors in Singapore and the Myanmar agent/sales reps paid for most of the cost to construct the temple.

Listed Singapore companies with a presence in Myanmar have lately been sought after by stock traders and speculators.

They are still few and far between -- but witness how Yoma Strategic turned into a five-bagger stock in a little over the past 6 months.

We stumbled on Best World International recently --- after its CEO, Dora Hoan,  posted some pictures of her company's operations in Myanmar which were shot on her recent trip there.

bwl_products_shelf
Best World health supplements in the chief monk's room. He consumes the supplements.

Some of these are republished here, with permission.

Best World International has been in Myanmar for three years already, since 2009.

It sells its range of quality skincare, personal care, nutiritional and wellness products wholesale to an agent in Myanmar.

The lady agent in turn hires sales representatives to sell the products to retail outlets as well as direct-sell to the more wealthy Myanmarese.

bwl_signage
'bwl' logo right at the top of the temple.

Targeting mainly women above 30, the products are: Dr Secret's skincare products, Plum Delite dieting products, and Advance health supplements.

Best World does not disclose its Myanmar sales in its financial reports as it is booked at export price.

(Best World: "The export price, being a percentage of the distributors' price, in which the Group's revenue are being booked in, is thus not significant.")

bwl_lead-002
Best World CEO Dora Hoan (right) with her Myanmar agent, in front of the temple (which is still under construction).

Best World chalked up S$41.5 million in sales last year with top markets Singapore and Thailand contributing S$10.1 million and S$7.8 million, respectively.

Dora said it was her first trip to Myanmar -- and she talked business with her agent there and gave a motivatational seminar to the sales reps.

On the flight, she met many businessmen and investors from Singapore looking to size up the potential of the country as it opens up.

Many aspects of the economy and infrastructure need to be overhauled to foster business growth -- for example, the US dollar is not widely accepted, and the electricity supply is not entirely stable.

Best World stock

The stock traded recently at 18 cents, translating into a market cap of S$36.9 million.

This is just a little above the company's cash and bank balances of S$29.8 million as at end March this year. Best World has no borrowings.

bwl_van
This is one of 10 vans with the 'bwl' logo that are used by the Myanmar agent and sales reps to do business around Yangon.

The business' profitability, however, has yet to recover from the sharp drop in FY10 (S$2.45 million vs S$9.7 million in FY09). 

The most recent 1Q was loss-making at $701,000. For 1Q financial statement, click here.


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