KUALA LUMPUR: The Companies Commission of Malaysia (SSM) has received 362 complaints related to alleged fake investments involving several companies offering investment schemes using the sharia redeemable shares concept from the Malaysian International Humanitarian Organisation (MHO) on June 21, 2023.
“SSM has opened an inquiry paper based on previous complaints where some of the complainants involved have been called to record their statements,” it said in a statement today.
It said SSM would also call several more complainants to ascertain whether there is a basis for an offense under the legislation administered by SSM.
“If there is a violation of any provision regulated by SSM, appropriate enforcement action will be taken,” it said.
It said SSM is always consistent in regulating compliance with the provisions of the law administered while also ensuring that the corporate community is aware of business responsibilities and ethics.
SSM said it took such allegation seriously as it affected good corporate governance practices that should be practiced by company directors.
“We would like to advise investors to always be careful and carry out due diligence first by checking the investment scheme offered by any company before participating,” it added.-Bernama
