Understand within the investing community, there has been angst due to unfriendly investor action by Best World international where it had increased remuneration to the CEO and executive directors, stopped dividends to shareholders and yet the company is recording record profits. And sgx action of suspending the company due to its doubtful business model has rendered minority shareholders unable to realise value.
Minority shareholders are currently organising their online petition to regulators
Below is a letter that is sent to the regulator to review their action:
To SGX Regco,
I would like to flag one company by the name of Best World International. I am not a shareholder but am writing in the interest of investor protection/rights and urge SGX regco to take action.
The company has been suspended by SGX as SGX did not feel comfortable with its business model in China. While the company made efforts to pay its shareholders...