Registration of GISB-affiliated companies may be canceled due to violations, Armizan says

IPOH: The business registration of companies affiliated with Global Ikhwan Services and Business Holdings (GISB) may be cancelled if they are found guilty of violating the regulations set by the Companies Commission of Malaysia.

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said investigations were ongoing to determine whether GISB had undertaken activities contrary to the public interest and applicable laws.

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

The ministry is working closely with the police and the Malaysian Enterprise Commission to expedite the investigation, which includes activities within its jurisdiction.

In addition, Armizan noted that the ministry is cooperating with the Malaysian Communications and Multimedia Commission (MCMC) on the online promotion of GISB. “We will take immediate action on the ongoing promotions and a decision will be made soon based on our joint efforts,” he said.

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

During the opening ceremony of the Companies Commission Perak Tower attended by the Sultan of Perak, Sultan Nazrin Muizzuddin Shah, and other dignitaries, Armizan reflected on the historical significance of Perak in the corporate sector.

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

“As one of the fastest growing states in Malaysia, I am confident that these numbers will continue to grow, fuelling the state’s economic growth and helping to achieve the goals and aspirations of both the state government and the country as a whole,” he added.