Franchise sales-related expenses added to jump in 2018 payables: Best World

Singapore

SALES-related expenses from its franchise segment, higher accruals for commissions and convention expenses drove Best World International's trade and other payables to more than double in 2018, the direct-selling company said late on Monday in a bid to "provide further information to shareholders following an investor briefing".

In its latest results for the year ended Dec 31, 2018, Best World reported trade and other payables of S$95.1 million as at year-end, more than double the S$45.9 million as at end-2017. Responding to queries from its investor briefing, Best World noted that its franchise business only began in June 2018, and there were therefore no franchise sales-related expenses in 2017.