We comply with rules, regulations, says MonSpace

Several parties want to defame, spread rumours about MonSpace, says company in statement, declaring that it will be working closely with Bank Negara.

PETALING JAYA: MonSpace (M) Sdn Bhd announced yesterday that it will work closely with Bank Negara Malaysia (BNM) to ensure their company complies with rules and regulations to conduct its business.

In response to BNM’s Financial Consumer Alert list released earlier, MonSpace released a statement, which it published in three languages on its Facebook page, clarifying that their company operates according to regulations.

According to its Facebook post, the multinational company stated that they have been strictly following rules and regulations since its inception in 2014.

“Since our founding, we have been and still are strictly adhering to the country’s laws.

“We are always wary to steer clear of questionable activities that defy Malaysia’s legal boundaries,” it wrote.

It further said that many parties are trying to spread rumours and defame the company.

MonSpace also called for the public to verify any information about the company via their official channels.

Earlier, DAP lawmakers had issued a statement following the release of the Bank Negara list – which includes MonSpace among 291 other companies.

DAP’s Lim Lip Eng stated that the list strengthened his claims that MonSpace is another dubious investment company.

Kg Tunku assemblyman Lau Weng San had claimed that the investment scheme established by MonSpace is worse than the JJPTR money game forex scheme which had been in the spotlight in recent weeks.

“MonSpace started operating three years ago and I believe that their investment schemes have grown bigger since,” Lau said in a press conference yesterday.

Lau alleged that the multinational company has bigger influence due to the alleged involvement of several key figures.

Lim further claimed that the investment company has now been named by Bank Negara only because certain people have stopped protecting them.

A check by Bank Negara revealed that MonSpace was registered under the Companies Commission of Malaysia (SSM) as a Multi-Level Marketing (MLM) and “E-commerce in Good Health” business.

However, the domestic trade, co-operatives and consumerism ministry has no record of issuing any license to the company. -FMT