SGX RegCo queries Best World; expects full independent review

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SINGAPORE (April 24): The Singapore Exchange Regulation (SGX RegCo) says that it is aware of the short-sell reports on Best World that was published earlier today, which led to a 9.0% plunge in Best World shares to close at S$1.62 on Wednesday.

Trading of shares in Best World have been halted.

In an email to The Edge Singapore, SGX RegCo says, “SGX RegCo is aware of Bonitas Research’s short-sell report on Best World. We posed earlier today a Trading Query to the company and its shares have since been halted. We expect the company to call for a full independent review of all matters raised in the report so that shareholders will have a complete picture and can make informed decisions. We expect to be consulted on the terms of reference of the review and will require the reviewer to report directly to us and the company’s Audit Committee... (Click here to read the full story)