IPOH: The business registration of companies connected to the Global Ikhwan Services and Business Holdings (GISB) faces potential cancellation if found guilty of violating regulations set by the Companies Commission of Malaysia.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali, said that investigations are ongoing to determine if GISB has engaged in activities against public interest and current regulations.
“We are reviewing the registration of the parent company and its subsidiaries, including compliance with submitting annual and financial reports,” he added.
The ministry is working closely with the police and Companies Commission of Malaysia to expedite the investigation, which encompasses acts under its jurisdiction.
Additionally, Armizan noted that the ministry is collaborating with the Malaysian Communications and Multimedia Commission (MCMC) concerning GISB's online promotions. “We will take immediate action regarding ongoing promotions and a decision will be made soon based on our joint efforts,” he said.
On September 20, Communications Minister Fahmi Fadzil reported that the MCMC had not received any complaints regarding GISB’s marketing activities on social media platforms. He emphasised that the Domestic Trade and Cost of Living Ministry is responsible for addressing issues related to social media marketing.
At the opening ceremony of the Companies Commission Perak Tower, which was attended by Sultan of Perak Sultan Nazrin Muizzuddin Shah and other dignitaries, Armizan reflected on Perak’s historical significance in the corporate sector.
He revealed that as of August 31, there are approximately 61,692 registered companies, 795,350 businesses, and 1,073 Limited Liability Partnerships from Perak, with many still active.
“As one of Malaysia's rapidly developing states, I am confident that these numbers will continue to rise, driving the state’s economic growth and helping to achieve the goals and aspirations of both the state government and the country,” he added.
