SSM reviewing GISBH’s registration, compliance with requirements

 

Armizan Mohd Ali said the review by the Companies Commission of Malaysia includes whether GISBH and its subsidiaries had submitted annual reports and financial statements.

PETALING JAYA: 

The domestic trade and cost of living ministry is reviewing the registration of Global Ikhwan Services and Business Holdings (GISBH) and its subsidiaries.

Its minister Armizan Mohd Ali said the review, carried out by the Companies Commission of Malaysia (SSM), includes the group’s compliance with the requirements for submitting annual reports and financial statements.

He also said their registration could be cancelled if they were found to have violated the regulations or were involved in matters concerning public interest, Bernama reported.

We are focusing on (the group’s) compliance with the regulatory framework under SSM’s jurisdiction and we are working closely with the police to help complete their investigations into GISBH,

 he told reporters after an event at Menara SSM in Ipoh, Perak, today.

Perak’s Sultan Nazrin Shah officiated the opening of the tower earlier.

Armizan also said his ministry was working with the Malaysian Communications and Multimedia Commission to monitor GISBH’s online presence, including the promotion of its products.

If any non-compliance was detected, he said, the ministry would file an official report with MCMC to ensure appropriate action can be taken.

Previously, communications minister Fahmi Fadzil said MCMC had not received any complaints regarding GISBH’s products being marketed on social media platforms.

He said the oversight of such businesses and their products fell under the domestic trade and cost of living ministry’s jurisdiction. - FMT