Minister says the companies remain registered with SSM pending decision by prosecutors.
Armizan said the investigation papers were opened by the Companies Commission of Malaysia (SSM) on Oct 9, 2024 over non-compliance with the Companies Act 2016.
“The investigation papers were completed and submitted to the AGC on Aug 4, 2025. SSM is awaiting further instructions from the AGC.
“In the meantime, GISBH companies remain registered in SSM’s records while awaiting further instructions and an official decision from the prosecutors,” he said in a written parliamentary reply.
Armizan said 17 companies under GISBH were still registered with SSM, involving sectors such as food and beverage, consultancy, tourism, real estate, and retail.
However, these firms had either faced or would face enforcement action from the authorities.
He said SSM had issued 50 compound notices to these firms for compoundable offences as of Feb 1, of which 27 had yet to be settled.
“The offences involve failing to file their annual returns, prepare their financial statements, and display their company name and registration number at their business premises,” he said.
He was replying to Rosol Wahid (PN-Hulu Terengganu) who asked about the status of GISBH businesses after its leaders were charged with being members of an unlawful society.
GISBH CEO Nasiruddin Ali and 21 others were given the lighter charge after submitting representations to the AGC.
They were initially charged with being members of an organised crime group under Section 130V(1) of the Penal Code, which provides for imprisonment of between five and 20 years upon conviction.
They were released on the same day that they were sentenced to a 15-month jail term after their sentence was backdated from the date of their arrests in 2024. - FMT
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