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RETAIL | Staff Reporter, Singapore

Best World International launches Dubai JV company

Its principal activity will be general trading.

Best World International (BWL) announced that it has established a joint venture company in Dubai.

According to Best World International’s report, its new company is known as BWL General Trading (BWLGT). It was incorporated with a paid up capital of AED200,000, equivalent to $77,071. Its principal activity is that of general trading, as well as importing, trading, and re-exporting of trade goods and products.

BWL stated that it holds 49% of the paid-up capital in BWLGT. The remaining 51% is held by a local Dubai partner.

The company also expressed that BWLGT is funded by internal resources, and is not expected to financially impact BWL for the financial year ending 31 December 2016.

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