fbpx

KUALA LUMPUR, July 8:

There will be a nationwide crackdown on the premises of CDTUP International and YSLM, owned by “the world’s future richest man” Zhang Jian.

Domestic Trade, Cooperatives and Consumerism Ministry secretary-general Datuk Seri Alias Ahmad toldThe Rakyat Posttoday about the crackdown, which will include seizure of all items belonging to Zhang.

He said if Zhang was found to have broken the law, all his assets will also be frozen.

“We will launch raids on all of his stores nationwide and confiscate his merchandise.”

Yesterday, it was confirmed that the trade registered to Zhang was not a legitimate multi-level marketing (MLM) company.

“Therefore, we will act immediately to take action, starting with raids.

“We will summon this so called, ‘future richest man in the world’.”

Meanwhile, Alias confirmed that Zhang’s Penang branch and his office at Setia Walk in Jalan Puchong were already closed down after raids conducted by the ministry today.

“Among items confiscated were motorcycles, exercise machines, laptops, cutlery sets, photos and clothes.”

Alias said the case would be investigated under the Direct Sales Act and Anti-Pyramid Schemes Act 1993, section 27 (b) for YSLM and Section 6 (4) for CDTUP International Sdn Bhd.

“The case can also be investigated under Anti-Money Laundering and Anti-Terrorism Financing Act 2001 that carries fines of not more than RM5 million or jail of not more than five years or both.

Meanwhile, checks with the Companies Commission of Malaysia (SMM) revealed that CDTUP International Sdn Bhd was previously called Perfect Nutrients Sdn Bhd until its name was changed on Nov 18, 2013.

The nature of its business, as listed in the SMM database, is in wholesale or retail or direct-selling in health care products and supplements.

The company’s share capital is authorised at RM5 million and the total issued is RM1.5 million, with the nominal value set at RM1 per share.

CDTUP International has two directors, each holding 750,000 shares, who were appointed on Dec 2 last year, while the company secretary was appointed on July 15, 2009.

The company was registered on July 15, 2009, and its registered address is at Dataran Prima, Petaling Jaya, while its business address is in Bandar Pusat Puchong.

As of its financial year end on Sept 30, 2013, the company had a revenue of RM157,398 but reported a loss of RM135,518.

Related Posts

Related Posts


Warning: Invalid argument supplied for foreach() in /usr/share/nginx/html/wp-content/themes/jnews/class/Module/ModuleViewAbstract.php on line 355

Related Posts

Next Post