SINGAPORE (May 13): Singapore Exchange Regulation (SGX RegCo) has issued a notice of compliance on Best World International, to expand the scope of an on-going review by PwC.

As part of the expanded review, PwC is to also audit the veracity of Best World’s sales in China, largely via an entity called Changsha Best. PwC, which was appointed in March, is to also obtain an independent legal opinion if the business model in China is sound.

According to the notice signed by June Sim, SGX RegCo’s head of listing compliance, the findings are to be only reported to SGX RegCo, and not to the company’s audit committee as previously agreed.

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