So, company requested for a trading halt after SGX made a query on the trading activities.
The company is likely to refute the Bonitas Research report.
But I note that Bonitas is just one of several research house /investors to have checked on the BWL Lifestyle centres in China and all reported that these centres were merely empty store fronts with little or no sales activities. They also checked around and concluded that brand awareness for DR's Secret skin care products were very poor, definitely not enough to be able to record the sales that BW claimed.
Tellingly, Bonitas highlighted that BW's founders have exponentially accelerated their annual take home pay by a whopping 20x in 5 years. The figures were also a huge percentage of the company's operating cash flows.
Interestingly, all this while, the 2 founders are being addressed as "Dr Hoan" and "Dr Tan"....both proudly listed they have obtained PhD degrees - from "Western Pacific University, USA" and "Canyon College, USA" - respectively.
But an internet search suggests that both these institutions are either non-existent or have been found to be unaccredited or just a degree certificate printer.
People who use such dubious sources to claim a "PhD" title and thus be addressed as "Dr" are very likely to be using the titles to give others a FALSE impression of their intelligence and credibility, and to hide other wrongdoings. Such an action alone casts real doubt on the INTEGRITY of the founders.
So over the years, how many people have addressed them as "Dr Dorothy Hoan" and "Dr Doreen Tan"? Hahahahahahahaha..............hahahahahahahahaha