CHECK BEFORE INVESTING, ADVISES CCM

KUALA LUMPUR, Jan 12 (Bernama) -- The Companies Commission of Malaysia
(CCM) has advised the public to check out the companies offering investment
schemes with relevant government agencies involved in the sector to avoid being
cheated.

Its Senior Enforcement Director Muhammad Redzuan Abdullah said in this
context, if there were investment offers related to agriculture, investors and
entrepreneurs, should refer to the agriculture departments to obtain prior
confirmation on the progress and ability of the company concerned to operate.

"This is important to avoid the recent incident where 3,000 investors in
Kulim in northern state of Kedah, involved in a scheme to rear earthworms, lost
more than RM25 million (US$7.48 million)," he told Bernama.

He said the CCM cannot undertake any investigation or interfere in the
operations of a company if no official report is made.

"However, in this case, the CCM quickly investigated. If found guilty of
organising the scheme, Kulim Worms Agrotec (KWA)(M) Sdn Bhd, can be charged
under any part of the Companies Act and subsequently fined or jailed," he added.

Muhammad Redzuan said cases of cheating happened as a company registered
with the CCM did not report its business operation activities as part of the
monitoring process.

The Director-General of the Agriculture Department of the Ministry of
Agriculture and Agro-based Industries, Datuk Roseley Khalid, in a statement
yesterday said a list of companies capable of undertaking training packages and
marketing certain products, was available.

He said the Agriculture Department was not involved with any representative
of investment companies but only offered technical advise to assist
entrepreneurs reduce production costs.

The Ministry of Agriculture website has a list of 58 entrepreneurs and
companies monitored by it.
-- BERNAMA