Global Ikhwan Services and Business Holdings (GISB) Under Scrutiny

Potential Cancellation of Business Registrations

Companies associated with Global Ikhwan Services and Business Holdings (GISB) are at risk of having their business registrations revoked if found guilty of violating regulations set by the Companies Commission of Malaysia. Domestic Trade and Cost of Living Minister Armizan Mohd Ali has announced ongoing investigations to assess if GISB has been involved in activities against public interest and current regulations.

Review of Compliance

• The parent company and its subsidiaries are under review for compliance with submitting annual and financial reports.
• The Companies Commission of Malaysia is working closely with the police to expedite the investigation encompassing acts under its jurisdiction.
  

  Allegations of Child Abuse and Sodomy
  

  GISB is under intense scrutiny in Malaysia following shocking allegations of child abuse and sodomy in children’s welfare homes in Selangor and Negeri Sembilan reportedly linked to GISB. The ministry is collaborating with the Malaysian Communications and Multimedia Commission (MCMC) regarding GISB’s online promotions to address ongoing concerns.

  Collaboration with MCMC
  

• Immediate action will be taken on ongoing promotions based on joint efforts.
• The ministry is closely monitoring social media marketing activities related to GISB.
  

  Perak’s Corporate Sector Significance
  

  At the opening ceremony of the Companies Commission Perak Tower, attended by Sultan of Perak Nazrin Muizzuddin Shah and other dignitaries, Mr. Armizan highlighted Perak’s historical significance in the corporate sector. As of August 31, there are approximately 61,692 registered companies, 795,350 businesses, and 1,073 Limited Liability Partnerships from Perak, indicating the state’s economic growth potential.

  Economic Growth Prospects
  

• Perak is a rapidly developing state with the potential for continuous growth.
• The increasing number of registered companies and businesses will contribute to the state’s economic development and align with the government’s goals.

  In conclusion, the ongoing investigations into GISB’s activities and compliance with regulations highlight the importance of transparency and accountability in the business sector. The potential cancellation of business registrations underscores the consequences of violating regulations and engaging in activities against public interest. Perak’s corporate sector growth signifies economic opportunities and the state’s contribution to Malaysia’s overall development. It is crucial for businesses to uphold ethical practices and adhere to regulations to ensure sustainable growth and positive impacts on society.