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According to a statement issued by SSM today, the compound notices were issued on Sept 23.
An interest scheme is a way of doing business and involves the pooling of financial contributions from the public in exchange for an interest in a particular scheme.
SSM said EWHPB and another company, known as East West One Consortium Bhd (EWOCB), both offered interest schemes in the form of shared farming investments related to palm oil cultivation and managed by East West One Group (EWOG).
They were investigated by the commission following complaints lodged against them.
“The investigation was carried out following 46 complaints and reports received by the agency involving the two companies from April to September last year.
“On Sept 25, SSM opened an investigation paper and carried out a physical inspection at the management offices of the companies concerned, as well as the palm oil plantation to examine the issues raised,” the statement said.
It also said the commission took seriously such allegations as they affect good corporate governance practices that should be practised by company directors.
“Investors who are affected by the interest schemes managed by EWOG and have information to assist the investigation, are advised to come forward to make a complaint via email to aduan@ssm.com.my or call 03-2299 4400,” it said.
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