Bank Negara Malaysia and Securities Commission Malaysia Investigate Bestino Group Berhad and Its Related Companies

Bank Negara Malaysia and the Securities Commission Malaysia have commenced investigations into Bestino Group Berhad and its related companies suspected of conducting illegal deposit taking and illegal investment schemes, in breach of subsection 25(1) of the Banking and Financial Institutions Act 1989 (BAFIA) and the offering for subscription or purchase of preference shares in breach of section 212(2) of the Capital Markets and Services Act 2007.

The raids on Bestino Group Berhad and its related companies were conducted today at their premises in Ipoh, Perak and Petaling Jaya, Selangor following complaints received from members of the public.

Members of the public are reminded to be cautious of deposit taking schemes and investment schemes offered through various channels such as the internet, phone calls, or seminars conducted by individuals or companies that are not licensed, approved or authorized by the relevant authorities.

Members of the public may refer to the list of licensed institutions authorized to accept deposits which is available on Bank Negara Malaysia's website (www.bnm.gov.my) and the list of licensed intermediaries authorized to conduct regulated activities which is available on the Securities Commission's website (www.sc.com.my).

For further enquiries, members of the public can contact Bank Negara Malaysia and the Securities Commission Malaysia at the following contact points:

Bank Negara Malaysia
BNMTELELINK (Customer Service Call Centre)
Tel:1-300-88-5465
Fax: 03-21741515
Email: bnmtelelink@bnm.gov.my

BNMLINK (Customer Service Walk-In-Centre)
Block D, Bank Negara Malaysia,
Jalan Dato' Onn, 50480, Kuala Lumpur
(Business hours: Monday-Friday, 9.00 am – 5.00 pm)

Securities Commission Malaysia
Investor Affairs and Complaints Department
Securities Commission Malaysia
3, Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur

General Line: 603-6204 8000
Tel: 603-6204 8999/8777
Fax: 603-6204 8991
E-mail: aduan@seccom.com.my

Bank Negara Malaysia
Securities Commission Malaysia
16 June 2009