MDEC to revoke Malaysia Digital status of Network School operator

 This follows the move by the Iskandar Puteri City Council to revoke NSO's business licence.

There had been allegations on social media that Network School was linked to an Israeli agenda to establish a foothold in Malaysia through cryptocurrency-related investment. (Network School pic)

KUALA LUMPUR:

The Malaysia Digital Economy Corporation (MDEC) is taking immediate steps to revoke the Malaysia Digital status of NSO Malaysia Sdn Bhd, which operates Network School in Forest City, Iskandar Puteri, Johor.

MDEC said in a statement that the action followed the decision of the Iskandar Puteri City Council (MBIP) to revoke NSO’s business licence.

Conditions attached to the Malaysia Digital status require that a company obtain the relevant permits and licences to carry out its approved activities, and to comply with all applicable regulations and licensing requirements, MDEC said.

“The revocation of NSO’s business licence constitutes a breach of this requirement.

“Accordingly, MDEC is taking immediate action to revoke NSO’s Malaysia Digital status,” it said.

MDEC said it welcomed high-quality digital investments into Malaysia, but that full compliance with Malaysian laws and regulations could not be compromised.

MBIP issued NSO a notice to cease business operations effective July 22, following non-compliance with licensing conditions and the use of premises under the local authority’s jurisdiction.

There had been allegations on social media that Network School was linked to an Israeli agenda to establish a foothold in Malaysia through cryptocurrency-related investment. - FMT