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35 34 Best World International Limited
Annual Report 2011
Best World International Limited
Annual Report 2011
DIRECTORS’
REPORT
The directors of the company are pleased to present their report together with the audited fnancial statements
of the company and of the group for the reporting year ended 31 December 2011.
1. Directors at Date of Report
The directors of the company in offce at the date of this report are:
Dr Dora Hoan Beng Mui
Dr Doreen Tan Nee Moi
Mr Huang Ban Chin
Mr Lee Sen Choon
Mr Robson Lee Teck Leng
Mr Ravindran Ramasamy
2. Arrangements to Enable Directors to Acquire Benefts by Means of the Acquisition of
Shares and Debentures
Neither at the end of the reporting year nor at any time during the reporting year did there subsist any
arrangement whose object is to enable the directors of the company to acquire benefts by means of the
acquisition of shares or debentures in the company or any other body corporate except for the options
rights mentioned below.
3. Directors’ Interests in Shares and Debentures
The directors of the company holding offce at the end of the reporting year had no interests in the share
capital of the company and related corporations as recorded in the register of directors’ shareholdings
kept by the company under section 164 of the Companies Act, Chapter 50 except as follows:
By virtue of section 7 of the Companies Act, Chapter 50, Dr Dora Hoan Beng Mui and Dr Doreen Tan Nee Moi
are deemed to have an interest in all the related corporations of the company.
The directors’ interests as at 21 January 2012 were the same as those at the end of the year.
4. Contractual Benefts of Directors
Since the beginning of the reporting year, no director of the company has received or become entitled to
receive a beneft which is required to be disclosed under section 201(8) of the Companies Act, Chapter 50,
by reason of a contract made by the company or a related corporation with the director or with a frm of
which he is a member, or with a company in which he has a substantial fnancial interest except as
disclosed in the fnancial statements.
5. Shares Options
In July 2010, the company completed its issue of up to 41,140,995 non-renounceable bonus warrants on
the basis of one warrant for every fve existing ordinary shares held by shareholders of the company.
Each warrant will entitle the warrant holder to subscribe for one new ordinary share in the ordinary
share capital of the company at the exercise price of $0.30, exercisable during the period commencing on
and including the date six months from listing date of the warrants and expiring at 5 pm on the market day
immediately preceding the third anniversary of the date of the issue of the warrants. The bonus warrants
will expire on 5 July 2013.
During the reporting year, there were no shares of the company or any subsidiary issued by virtue of the
exercise of an option to take up unissued shares.
At the end of the reporting year, there were no unissued shares of the company or any subsidiary under option.
3. Directors’ Interests in Shares and Debentures (Cont’d)
Held in the name of directors Deemed interest
Name of directors and companies
in which interests are held
At beginning of
the reporting year
At end of the
reporting year
At beginning of
the reporting year
At end of the
reporting year
Best World International Limited Number of shares of no par value
Dr Dora Hoan Beng Mui 12,052,000 12,152,000 75,100,000 75,100,000
Dr Doreen Tan Nee Moi 12,152,000 12,152,000 75,000,000 75,100,000
Mr Huang Ban Chin 9,000,000 9,000,000 – –
Mr Lee Sen Choon 75,000 75,000 – –
Mr Robson Lee Teck Leng 66,000 66,000 – –
Held in the name of directors Deemed interest
Name of directors and companies
in which interests are held
At beginning of
the reporting year
At end of the
reporting year
At beginning of
the reporting year
At end of the
reporting year
Best World International Limited Number of warrants
Dr Dora Hoan Beng Mui 2,410,400 2,410,400 15,020,000 15,020,000
Dr Doreen Tan Nee Moi 2,430,400 2,430,400 15,000,000 15,000,000
Mr Huang Ban Chin 1,800,000 1,800,000 – –
Mr Lee Sen Choon 15,000 15,000 – –
Mr Robson Lee Teck Leng 13,200 13,200 – –