The most basic is that:

No company can start or run an investment scheme as well as taking in public money's deposit for investment without SC approval.

So if one said it is investment scheme then SC needs to clarify it.

I don't know the scheme in details so no comment whether it is legitimate or not.
A lot of things can be run or happened to be in grey area.

A real highly profitable company generally won't need to seek for other's money, as if they really need to they can through :
1. bank loan
2. become public listed company.

which in this way, the financing cost is way way cheaper than other alternatives.

If one is joining in a private company as shareholder, scheme, or whatever plan, which has no SC approval or trustee on behalf, your risk is fully exposed to the company management sincerity, liking and whatever they wish to which one is powerless to do anything.

Don't mean to comment on IRC, just a brief comment on some general questions asked.

This is another Sunshine Empire. =)

Actually any scheme or plan offered out there, the main risk or question we should always ask is what is the intention behind of those scheme besides the legitimate issue.

In any scheme, we must sort out both legitimate issue and intention behind of running it.

MLM doesn't mean is an investment scheme, 2 different front, but there are some grey area in between, that's for sure.

If as you said, they run MLM, does it have MLM license?
Yes, then you proceed to another aspect.

Does the MLM cross the line of investment?
Yes, then we have a problem with SC.
No, ok proceed to another aspect.

A company can apply MLM business and getting MLM license to run its business, but the company can just run based on recruitment purposes to generate fee and profit and money to the company, it is still legal, even you see it from left to right. Just we know it is not a sustainable way to do it.

One can set up an MLM company that required member to put deposit or memberships deposit fee of 1000, if they can get 1000 member then it is 1 million cash that company can utilise upon without any sweat nor paying interest to those money. Imagine that MLM structure of 10,000 member, 10 million at stake.
That's why BNM is setting a rule that ordinary company cannot take in deposit without any approval being granted.

In the recruitment based MLM,
Does it legal? Yes
Does it making profit to those joining? Yes, as long as there are late comers to pay the early birds. But number or members are not indefinite, there is some point, it will hit the saturated point.
Does it a ponzi scheme? Company and members will claim definite no, it is MLM business as it has MLM license. But we know it is no different and thin hair line difference between.

Beside the legitimate issue, old scheme or new scheme doesn't matter, it is the intention why the company want to do it in the first place. Satisfy this question is the most important issue, no matter how the scheme is run.

Take a bigger picture and see from the top side, instead of surrounding round and round below at the surface. No offence.

Cheers. 

Above statement is none nor anything related to IRC or comment on it.

my friend who doing this MLM irc tell me that they have buy over another company which it has license to run MLM.
and they change the old scheme to new scheme is probably the old scheme is not running well so they change to new one. compare the old and the new scheme, the new scheme is much clearer and more easy to understood.

if 5% p.a then it is very reasonable but rather low, if 5% per month, there is no business in the world that can achieve that...unless u do some illegal job