Police Investigate GISBH’s RM52M Overseas Assets Across 10 Countries*

KUALA LUMPUR, Oct 11 — Police have launched an investigation into GISB Holdings Sdn Bhd (GISBH) and its overseas assets, valued at over RM52 million. Authorities have identified 23 properties across 10 countries, spanning Southeast Asia, Europe, and the Middle East. However, they are still awaiting responses from nine countries where GISBH is believed to be operating.

Bukit Aman Criminal Investigation Department director Datuk Seri Mohd Shuhaily Mohd Zain said police are working with Interpol and regional partners. He mentioned that in one country, three properties had ceased operations, with signage removed and windows covered, prompting further investigation.

Locally, police have frozen and seized GISBH assets worth over RM19.9 million, in compliance with the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFPUAA) 2001.

Addressing concerns raised by former PM Tun Dr Mahathir Mohamad about the investigation’s harshness, Mohd Shuhaily emphasized that the process is transparent and follows legal protocols. He reiterated that GISBH’s business ties with the Aurad Muhammadiah order, previously declared heretical, are under scrutiny, and the investigation is ongoing.