PETALING JAYA: Twelve companies linked to Global Ikhwan Services and Business Holdings (GISBH) have been slapped with RM4.4 million in compound fines by the domestic trade and cost of living ministry.
Its minister Armizan Mohd Ali said the compound fines were issued after an investigation by the Companies Commission of Malaysia (SSM) found that the 12 companies had failed to submit their annual reports and financial statements.
“Besides GISBH, there are 17 other companies using the GISBH name in their SSM registration.
“At the same time, a review of data and websites related to GISBH or ‘Ikhwan’ has found that 201 businesses could be linked to GISBH,” he said on the sidelines of the TikTok Shop Seller Summit 2024 here today.