Companies Commission of Malaysia issues directive to East West One Group’s trustee to freeze trust account funds

Penang should learn from Selangor on how to go from backend chip manufacturing to front-end design work, says Guan EngIn a statement today, SSM said the move was a follow-up to the investigations it is currently undertaking on the companies under East West One Group Sdn Bhd .

“The order letter was sent to Pacific Trustees Bhd, the trustee for EWOG, on April 5, 2024 aimed at safeguarding the interests of investors in the schemes. It is a follow-up to the proposal by EWOG as the main holding company to carry out a recovery and restructuring plan for the schemes by utilising funds in the trust accounts,” it said.

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