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SINGAPORE: Mainboard-listed Best World has entered into a joint venture with two Philippine businessmen, Frederick Go and Wilson Chua.
Best World will have a direct stake of 80 per cent in the new joint venture, called BWL Health and Sciences.
The health and wellness product company will also head the group's effort in developing the Philippines market through its core business of direct selling.
The remaining stake will be held by Frederick Go, a leading player in the property industry, and Wilson Chua, a veteran in the retail and construction supplies industry.
BWL is presently in the process of setting up the group's Philippines Regional Centre and the application of all necessary licenses for its operations there.
This preparation stage is expected to be completed in the third quarter of this year.
- CNA/sc
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