SSM said it is conducting an investigation into two companies that offer an interest scheme in the form of joint venture investment related to palm oil cultivation under the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act.
The Commission in a statement today mentioned that the investigation was carried out following 46 complaints and reports regarding incidents of payment of investment returns in the form of dividends, which the agency received involving the two companies from April to last September. Based on the report SSM has opened investigation papers and carried out a physical inspection at the management office of the schemes as well as the palm oil plantation location to examine the issues raised.
“Through the inspection carried out, four compounds were issued to two company directors, a manager, and a management company with a total compound value of RM1 million on Sept 25,” according to the statement.
The SSM said it akes the allegation seriously because it affects good corporate governance practices that should be practiced by company directors. “Investors who are affected by registered interest schemes and have information to assist the investigation, are advised to make a complaint via email to [email protected] or call 03-2299 4400,
