1. Early this morning, Best World (BWL) released its reply to research house Bonitas on several points it made about BWL’s operational, financial and accounting practices.
2. At the heart of the matter lies a company called Chang Sha Best Domestic Goods Trade Co. Ltd. BWL confirms that Chang Sha is a major primary import agent for the company. It also states that:
“The Report presents no evidence to establish any link between the Primary Import Agent and the Company, the Directors, the substantial shareholder of the Company or their associates.
The Company confirms that the Primary Import Agent, a company incorporated in China, is independent and not related to the Group. None of the Group, the Directors, the substantial shareholders of the Company or their associates have had any direct or indirect shareholding interests, directorship or management role in the Primary Import Agent.”
3. We checked on the relationship between Changsha Best and BWL and found the company’s statement to be untrue. Koh Kim Chuan is related to Dora Hoan by way of being her brother-in-law.
a) By inquiry of the information in the administration for industry and commerce, we learned that Changsha Best Domestic Goods Trade Co., Ltd. was a wholly foreign-owned company as natural person, whose legal person and shareholder was Koh Kim Chuan.
Source: Enterprise registration information in the system of the administration for industry and commerce
b) Upon further checks, we found that Kim Chuan Koh’s wife was Mary Huan. In Mary Huan’s album, there was a picture of Dora Hoan, BWL President, which described Mary Huan as her second elder sister.
In Koh Kim Chuan’s Facebook album, we found the family picture containing three persons.
i. Kim Chuan Koh embracing Mary Huan in the picture, with the words "Mary's Birthday Family Dinner".
Source: Kim Chuan Koh’s Facebook album
ii. Koh Kim Chuan appearing in the picture of Mary Huan, with the words “Enjoying the sunset on the beach with my husband”.
Source: Mary Huan’s Facebook album
iii. We found the picture of Dora Hoan in Mary Huan’s album, with the words “Today is the birthday of my second elder sister”.
Source: Mary Huan’s Facebook album
“Everyone is a moon, and has a dark side which he never shows to anybody.” ― Mark Twain