SINGAPORE (Feb 25): Shares in Best World International have plunged as much as 58 cents, or 21.4%, to $2.13 upon opening this morning on news that the group would be conducting an independent review on its business and accounting practices.
The counter resumed trading this morning from an extended trading halt which it called for on Feb 18, prompted by an article published by The Business Times on the same date.
Titled Sales of DR’s Secret in China: Best World’s best-kept secret?, the article implied, among other issues, secrecy over Best World’s 28 franchisees as it claimed the company’s director and chief operating officer Huang Ban Chin had denied to disclose the franchisees’ names and exact store locations, which were then not listed on its website.
