The Straits Times / The Business Times News on Best World

Best World sets sights on Singapore listing

Lifestyle retail company co-founded by ex-Asme president hopes to list by end '04 or early '05

By Kenneth Lim - 14 February 2004
The Business Times

BEST World International, a lifestyle retail company co-founded by former Association of Small and Medium Enterprises president Dora Hoan, is eyeing a Singapore listing.

The target listing date is still tentative but Ms Hoan, who was speaking on the sidelines of the launch of a new water-filtration product developed with mainboard-listed Hyflux, said she hopes to list Best World International by the end of this year or early next year.

Founded in 1990 by Ms Hoan, who is the chief executive, and managing director Doreen Tan, Best World specialises in the formulation and distribution of health supplements and skin care products. The company largely imports products from countries such as the US, Japan and New Zealand, then repackages and sells them under its own brands. Besides Singapore, Best World also exports to Malaysia, Indonesia, Thailand, Hong Kong and Taiwan.

The company currently has four retail outlets in Singapore, and plans to open another at Sun Plaza in April, said director Huang BanChin.

Through the retail outlets, Best World also runs an active direct-selling network. Ms Tan said Best World currently has about 30,000 distribution agents in Singapore and 5,000 in Malaysia.
The group, which currently employs about 37 people, made about $20 million in turnover last year and profit of about $3 million, said Mr Huang.

Mr Huang said Best World is now ready to move aggressively abroad. It plans to start a direct-selling operations in Thailand in April, and a distribution office in Chengdu, China, in September.
Best World is hoping to boost its overseas expansion with a strong product line, including 'PureFlo'. This is a new water filter which can be attached to taps and uses Hyflux's proprietary membrane technology.

At $252 apiece including GST, the filters are slightly more expensive than other filters, but Ms Hoan said she is confident that customers will be willing to pay a premium for the device's superior capabilities. Best World expects to sell 20,000 to 30,000 sets in Singapore by the end of the year, an estimate Ms Hoan called conservative.

Best World has started selling the filters in Singapore, and plans to start distributing in Malaysia by the end of March.

Beyond Malaysia, Best World also has plans to start selling PureFlo in Indonesia, Thailand and China by the end of the year.