PETALING JAYA, Sept 26 — The Domestic Trade and Cost of Living Ministry (KPDN) has imposed compounds amounting to RM4.4 million against 12 companies related to GISB Holdings (GISBH) recently.
Minister Datuk Armizan Mohd Ali said the compounds were issued after an investigation by the Companies Commission of Malaysia (SSM) found the firms did not submit their annual and financial statements, per requirement.
“Besides GISBH, there were 17 other companies using the GISB name in their SSM registration. A review of data and websites related to GISB or ‘Ikhwan’ found that 201 businesses could be linked to GISB,” he said when met after the TikTok Shop Seller Summit 2024 here today.
Armizan said the KPDN is responsible for helping police in the GISBH investigation in terms of legislation and non-compliance with related acts by GISBH’s business networks.
— Bernama
