SKM denies giving guarantee, approval for investment in KAPB
Last update: 11/02/2019
KUALA LUMPUR, Feb 11 (Bernama) -- The Cooperative Commission of Malaysia (SKM) today denied it has given any guarantee or approval for the investment made by the public in Koperasi Amanah Pelaburan Bhd (KAPB) or any other cooperatives.
In a statement, SKM said it was aware of the action taken by KAPB to use Pos Malaysia to recruit new members as well as make investment in the cooperative.
The information on the investment in the form of brochures were distributed in Pos Malaysia offices at various locations.
“The Commission found the brochures during checks at Pos Malaysia office in Tesco Kajang and Pos Malaysia Klang on Feb 1, 2019.
“With this, the Commission denies that it has given its guarantee or approval for the investment made by the public in KAPD (or any other cooperatives).
“Therefore, the public is advised to examine and evaluate (the investment) properly before investing and the investment should be made at their own risk,” it said.
“If there are concerns, the public can contact the Commission as well as contact its officers,” it added.