Probe on loan scam, co-operative commission acts


SKM executive chairman Nordin Salleh(pic) said strict action would be taken against the individuals and cooperatives involved should investigations confirm scams involving civil servants

PETALING JAYA: The Malaysia Co-operative Societies Commission (SKM) will investigate allegations that a few co-operatives, including the Malaysian National Co-operative Movement (Angkasa), are involved in a “syndicated loan scam”.

In a statement made by SKM on June 10, its executive chairman Datuk Nordin Salleh said strict action would be taken against the individuals and cooperatives involved should investigations confirm scams involving civil servants’ payslips.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

S&P 500, Nasdaq eye higher open with Fed policy outlook in focus
Sapura Energy, subsidiaries granted extension of orders for debt restructuring
Bank Muamalat records PBZT of RM306.7mil for FY22
Ringgit ends higher against US dollar on rising oil prices
PETRONAS president/group CEO optimistic of contract extension
PETRONAS reports RM23.8bil net profit in 1Q
MST Golf Group inks underwriting agreement with RHB Investment Bank for IPO
PRG orderbooks for energy efficiency segment reach RM128mil
Maxis reiterates commitment to sign 5G access agreement with DNB
KLCI falls to lowest point since October 2022

Others Also Read