01-01-2020, 10:42 PM
Allow me to add one point.
In it's letter dated 13 May 2019, SGX clearly request for BWL and it's partners to provide all the financial, delivery and government filing for investigation.
(click and see letter from SGX item 11 (d) )
As at late Oct 2019, after lengthy negotiation, then BWL's key partner is willing to cooperate and agrees to provide the necessary info and doc for investigation.
Since then, Independent Auditor had been traveling up and down Changsha as per BWL filing dated 1st Nov 2019.
(click for 1st Nov 2019 announcement)
Fast forward to 12 Dec 2019, BWL reported that some partners had not share the necessary info and doc due to confidentiality concerns.
What I'm very curious is: despite the withholding of info and doc, BWL is cautiously optimistic that company is able to meet the indicative timeline as copied in Bear's post above.
(click for 12 Dec 2019 announcement)
Actually, I'm not concern about the related parties transactions.
These numbers are small.
Whether it's between it's export agent, with Dora's brother-in-law or Ban Chin's wife, these are really small numbers.
Of course, I'm quite sure BWL is able to explain and reconcile after a few rounds of clarifications.
These are not my concern.
My concern is the actual reason Direct selling (DS) model is ditched and replaced with Franchise's model.
Yes, of course, I could understand the rationale that Franchise model is a stepping stone towards Direct selling model.
My question is what's the actual reason that BWL can not go with DS model and instead Franchise model will allow it to continue selling without touching the nerve of Chinese Government.
I mean, I understand that going with DS model now will clearly violate China law and that's why Franchise model is introduced immediately to de-risk.
I understand.
What I don't understand is what is the "thing" that DS model break?
And, of course, why Franchise model will rescue BWL from breaking the law?
Today is still New year and the topic sounds too heavy to digest.
Relax a little bit.
Best wishes to all valuebuddies had a blessed 2020 for another decade.
=========== Signature ===========
感恩
Thanks all valuebuddies for helping me in my investment journey.
I learn a lot from you.
In it's letter dated 13 May 2019, SGX clearly request for BWL and it's partners to provide all the financial, delivery and government filing for investigation.
(click and see letter from SGX item 11 (d) )
As at late Oct 2019, after lengthy negotiation, then BWL's key partner is willing to cooperate and agrees to provide the necessary info and doc for investigation.
Since then, Independent Auditor had been traveling up and down Changsha as per BWL filing dated 1st Nov 2019.
(click for 1st Nov 2019 announcement)
Fast forward to 12 Dec 2019, BWL reported that some partners had not share the necessary info and doc due to confidentiality concerns.
What I'm very curious is: despite the withholding of info and doc, BWL is cautiously optimistic that company is able to meet the indicative timeline as copied in Bear's post above.
(click for 12 Dec 2019 announcement)
Actually, I'm not concern about the related parties transactions.
These numbers are small.
Whether it's between it's export agent, with Dora's brother-in-law or Ban Chin's wife, these are really small numbers.
Of course, I'm quite sure BWL is able to explain and reconcile after a few rounds of clarifications.
These are not my concern.
My concern is the actual reason Direct selling (DS) model is ditched and replaced with Franchise's model.
Yes, of course, I could understand the rationale that Franchise model is a stepping stone towards Direct selling model.
My question is what's the actual reason that BWL can not go with DS model and instead Franchise model will allow it to continue selling without touching the nerve of Chinese Government.
I mean, I understand that going with DS model now will clearly violate China law and that's why Franchise model is introduced immediately to de-risk.
I understand.
What I don't understand is what is the "thing" that DS model break?
And, of course, why Franchise model will rescue BWL from breaking the law?
Today is still New year and the topic sounds too heavy to digest.
Relax a little bit.
Best wishes to all valuebuddies had a blessed 2020 for another decade.
=========== Signature ===========
感恩
Thanks all valuebuddies for helping me in my investment journey.
I learn a lot from you.