Tuesday May 11, 2010
The Star
KUALA LUMPUR: A swiftlet farming company in Kulim, Kedah, was raided by the Companies Commission of Malaysia for allegedly offering the public high investment returns in a swiftlet farming scheme.
The company has been claiming that it can offer investors up to 80% share of the sales proceeds if a person invested anything from RM4,000 to RM400,000.
The company’s modus operandi is to engage the public in a swiftlet farming investment scheme, the commission said in a statement.
The commission is investigating the company under Section 84(1) and Section 91(1) of the Companies Act, for allegedly running an investment scheme without the prior approval of the Registrar of Companies.
“We will continue to monitor all companies offering interest schemes to the public to protect the interest of the people,” the statement added
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