Bank Negara Malaysia Investigates Mercantile Point Sdn Bhd and its Related Companies

Information display below was taken from Bank Negara Malaysia (BNM) official website. Raids had been conducted in premises of the companies following complaints received from the public by BNM. Relevant assets and documents of the companies were seized for purpose of investigation. BNM also urged the public not to place money or deposits with companies not licensed by Bank Negara Malaysia or to be involved in any get rich quick scheme to avoid losing their hard earned money.

For readers information Mercantile Point Sdn Bhd claims they are actively involved in multi-business mainly in international and domestic, trading, asset management, project and financial management, forwarding and consultancy services.

Ref No: 04/08/01

Embargo: For immediate release

Bank Negara Malaysia Investigates Mercantile Point Sdn Bhd and Sunshine Empire Sdn Bhd and its Related Companies

Bank Negara Malaysia is currently investigating Mercantile Point Sdn Bhd and Sunshine Empire Sdn Bhd and their related companies suspected of conducting illegal deposit taking and money laundering activities. These illegal activities are offences under subsection 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and subsection 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLA) respectively.

The raids on Mercantile Point Sdn Bhd and its related companies were conducted on 2 April 2008 while the raids on Sunshine Empire Sdn Bhd and its related companies were conducted on 4 April 2008. These raids were conducted in premises of the companies around Kuala Lumpur following complaints received from members of the public. Relevant assets and documents of the companies were seized for purpose of investigation.

Members of the public are reminded not to place money or deposits with companies not licensed by Bank Negara Malaysia or to be involved in any get rich quick scheme to avoid losing their hard earned money. A list of all licensed institutions that accept deposits is available on Bank Negara Malaysia’s website at www.bnm.gov.my. Members of the public should contact Bank Negara Malaysia for enquiries and further advice at the following address and telephone contact numbers:

Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, D Block,
Jalan Dato’ Onn
50480 Kuala Lumpur

Telephone:

BNMTELELINK : 1-300-88-5465 or

Hotlines : 03 2691 0824 / 2692 6482 / 2698 2810 / 2694 2143
Fax: 03 2698 7467

E-mail: bnmtelelink@ bnm.gov.my

Bank Negara Malaysia
4 April 2008