SINGAPORE (May 9): Best World has issued a statement that says it “strongly refutes” an April 24 short seller report by Bonitas Research, where it alleged the group’s sales in China are a fraction of what was reported to its shareholders, among other issues raised in the report which the group insists are untrue.
It adds that Best World and its co-founders have commenced defamation proceedings against Bonitas and its founder in the High Court of Singapore.
See: SGX RegCo queries Best World; expects full independent review
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