Registration of GISB-linked companies may be cancelled if found to be in violation: Malaysian minister

IPOH – Companies connected to Global Ikhwan Services and Business Holdings (GISB) may have their business registration cancelled if they are found to have violated regulations set by the Companies Commission of Malaysia.

Domestic Trade and Cost of Living Minister Armizan Mohd Ali said investigations were underway to determine whether GISB had engaged in activities contrary to public interest and existing regulations.

“We are reviewing the registration of the parent company and its subsidiaries, including compliance with the submission of annual and financial reports,” he added.

GISB has come under intense scrutiny in Malaysia following shocking allegations of child abuse and sodomy at children’s homes in Selangor and Negeri Sembilan, which are believed to be linked to GISB.

The ministry is working closely with the police and the Companies Commission of Malaysia to expedite the investigation, which includes acts within its jurisdiction.

Furthermore, Datuk Armizan said the ministry was collaborating with the Malaysian Communications and Multimedia Commission (MCMC) regarding GISB’s online promotions. “We will take immediate action regarding the ongoing promotions and a decision will be made soon based on our joint efforts,” he said.

On September 20, Minister of Communications Fahmi Fadzil said that the MCMC had not received any complaints regarding GISB’s marketing activities on social media platforms. He said the Ministry of Internal Trade and Cost of Living was responsible for addressing issues related to social media marketing.

At the opening ceremony of the Companies Commission Perak Tower, attended by Sultan of Perak Nazrin Muizzuddin Shah and other dignitaries, Mr Armizan spoke about Perak’s historical importance in the corporate sector.

He revealed that as of August 31, there were about 61,692 registered companies, 795,350 enterprises and 1,073 limited liability companies in Perak, many of which are still active.

“As one of the fastest growing states in Malaysia, I am confident that these numbers will continue to increase, boosting the state’s economic growth and helping achieve the goals and aspirations of the state government and the country,” he said. THE STAR/ASIA NEWS NETWORK