The Straits Times / The Business Times News on Best World

Best World founders trim stakes

08 March 2005
The Straits Times

BEST World International chairman Doreen Tan and chief executive Dora Hoan have sold a total of seven million shares, or a 5.6 per cent stake in the company, at 25 cents a share.

The shares were sold in a married deal to strategic investors - Mr Derek Goh, chairman and chief executive of Serial System, and Mr Goh Tiong Yong, president and chief executive of Meiban Group.

With the sale, the two women, who are also founders of the company, now own 30.97 per cent each of Best World, down from 33.77 per cent.

Shares of Best World closed yesterday at 25.5 cents, up half a cent.