BEST WORLD INTERNATIONAL LIMITED
Company Registration No. 199006030Z
INCORPORATION OF A WHOLLY- OWNED SUBSIDIARY
The Board of Directors of Best World International Limited (the "Company") wishes to announce that the Company has incorporated a wholly owned subsidiary in Singapore, details of which are as follows:
Company name | : Best World Lifestyle (S) Pte. Ltd. ("BWLSPL") |
Issued and Paid-up Capital | : SGD100 |
Principal Activity | : Retail Sale of Cosmetics and Toiletries (including Skin Care |
Products); Retail Sale of Health Supplements; Retail Sale via | |
Internet (with Income mainly from Online Sales) | |
Country of Incorporation | : Singapore |
Upon completion of the Group's Tuas facility, all manufacturing and related activities will be conducted under Best World Lifestyle Pte Ltd ("BWL"), an existing wholly owned subsidiary of the Group in Singapore. Due to the above arrangements, BWL will hive off its current direct selling business for Singapore to the new subsidiary, BWLSPL.
The establishment of BWLSPL is not expected to have any material effect on the consolidated net tangible assets per share and earnings per share of the Company and the Group for the financial year ending 31 December 2021.
None of the Directors and controlling shareholders of the Company has any interest, direct or indirect, in the above transaction.
For and on behalf of
Best World International Limited
Huang Ban Chin
Director and Chief Operating Officer
21 July 2021
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Best World International Limited published this content on 21 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2021 12:39:22 UTC.