Best World International - Last Thursday suddenly A wide and long green bar appearing on the chart plus high volume, looks like Big Boys are playing!

 I think is good to monitor and see if this buying interest get freezer out before taking any action. 

This might be the reason why no dividend declare for FY 2022. 

"Payment of management and staff incentives etc"

Please dyodd. 

Quote: 

BEST World International’s payment of management and staff incentives relating to FY2022, sales-related expenses and income tax for FY2022 led it to post S$45.3 million in net cash outflow from operations for the first quarter of 2023.

In a response statement to Singapore Exchange (SGX) queries filed by the skincare firm on Wednesday (Jun 21), these payments were cited to explain why it did not have net cash inflow from operating activities when the group had a net profit of S$20.5 million for the three months to March. The earnings were, however, 25.7 per cent lower year on year, as a result of a 30.8 per cent dip in top line to S$80 million. The lower turnover, it noted, was mainly due to lower contributions from its franchise segment, which was partly caused by slower consumer spending.

Best World provided a breakdown of other payables to third parties amounting to S$76.1 million as at end-March, in response to another SGX query. The firm said that its other payables included value added tax payables and payables owing to non-trade parties relating to convention and marketing events, commissions as well as service fees to third-party promotional companies for its franchise segment.

 Founded in 1990, Best World International 

is a Singapore headquartered company specialising in the development and distribution of premium skin care, personal care, beauty, health and wellness brands.

Best World dedicates itself to the scientific research and development of innovative solutions, manufacture and distribution of quality brands of products, through diversified channels, and constantly enhancing the customer experience with our products and services.

Since inception, Best World has grown in strides to become a key regional player in the industry, having subsidiaries, joint venture and associate companies in 12 markets, with customers from 40 markets in Asia, Oceania, Middle East, North America and Europe.

Vision

To be a leading global skin care, nutritional and personal care solutions provider, focused on making a difference to the lives of beauty and health enthusiasts from all over the world.

Mission

The Preferred Choice for Consumers

To meet the everyday beauty and health needs of our customers with quality products and services, achieved through continuous innovations, created under our high quality and safety standards.

Chart wise, bearish mode!

Is it the Best Time to Buy?

I would monitor and wait for the selling to stabilize first and some reversal indication before taking any action!

Short term wise,  I think it may go down to test the support at 1.60 and 1.56. Breaking down of 1.56 plus high volume she may likely go further down to test 1.43 and 1.35.

Not a call to buy or sell!

Please dyodd.