EC Trust (Labuan) Bhd, a trust company which was more than 20 years old, has had its licence revoked by the Labuan Financial Services Authority, apparently for failures in the way the businesses was conducted. Specific details of the failures have not been given.
The firm, which had 5 lawyers on its staff (3 Malaysian and 2 Australian) has had it's licence revoked with effect from 11th June and Peter Kent Searle has personally been disqualified from acting as a director.
KPMG has been appointed to take control of the business and all clients are being asked to make contact with KPMG as soon as possible.
No comments:
Post a Comment