SGX RegCo orders Best World's major customer to submit documents on sales and finances

The firm’s independent reviewer will now solely report to the self-regulatory organisation.

SGX RegCo has required Changsha Best, which was recently revealed to be Best World’s primary import agent in China, to procure copies of its financial information, accounting and other corporate records, an SGX filing revealed.

In addition, it also ordered Best World’s independent reviewer PricewaterhouseCooper (PwC) to report solely to SGX RegCo on the scope and findings.

This follows after the skincare firm revealed that its CEO is the brother-in-law of Changsha Best’s shareholder and legal representative.

SGX RegCo started investigations over Best World after a Bonitas report was found accusing the firm of having intentionally limited the scope of the independent review by PwC Singapore on its business in China to divert attention from “fabricated sales” in China in 2017.

Also read: SGX RegCo suspends trading of Best World shares amidst short seller attacks

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia