GISBH is an insolvent company

Some of the many SMEs associated with GISB received all sots of entrepreneurship grants from various government ministries over the last 5-7 years.  Were these grants obtained in a legitimate manner? Were the monies used for the intended use the grants were provided? The ministries must come clean now and advise the public how many and how much in public grants were given to GISB.

Murray Hunter

Has the government been scammed of millions of Ringgit?

A user named @pemfaiz on X (formally Twitter) has posted a set of accounts that were submitted to the Companies Commission Malaysia (SSM) on 15th November 2023, for the financial accounts ending 31st December 2021.

The above accounts clearly show an insolvent company. This company we were told was the peak of Global Ikhwan companies. The company has negative retained earnings of -RM 2,837,124, making the company insolvent as liabilities and losses, are more than the assets of the company. In addition, the company shows zero revenue and a net loss of -RM 137,621.

Anyone who runs a company would question how such a state of finances would allow this company to continue in commercial operation, unless it was doing other things. Its obvious, all the events and dinners Global Ikhwan undertook didn’t come from this company’s own money.

So there is much more than meets the eye with GISBH. Tax evasion, money laundering, using a company for illegal operations, and human trafficking on an international basis.

Global Ikhwan didn’t receive funds directly from JAKIM. However, some of the many SMEs associated with GISB received all sots of entrepreneurship grants from various government ministries over the last 5-7 years.

Were these grants obtained in a legitimate manner? Were the monies used for the intended use the grants were provided? The ministries must come clean now and advise the public how many and how much in public grants were given to GISB.

We also know that people gave donations to GISB. Where did this money go? Its not accounted for in any accounts declared.

The GISBH website Global Ikhwan has disappeared over the last 24 hours.