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Rafizi grilled after listing RM16.7 million from Invoke shares as his own

This follows the PKR deputy president's declaration of assets which showed a jump of more than RM17 million from 2015.

Staff Writers
2 minute read
PKR deputy president Rafizi Ramli speaks at the 2022 PKR election convention in Shah Alam in August. Photo: Bernama
PKR deputy president Rafizi Ramli speaks at the 2022 PKR election convention in Shah Alam in August. Photo: Bernama

A Perikatan Nasional (PN) leader today took Rafizi Ramli to task after the PKR number two's latest asset declaration showed a whopping jump of RM17 million compared to just seven years ago.

Rashid Hasnon, who is an exco member for Johor PN, also questioned the RM16.7 million in shares from Rafizi's Invoke Solutions, saying the PKR deputy president himself had stated that the company was set up in the name of public interest.

"Invoke appealed for and received public support by way of various fundraising methods," Rashid said.

"Rafizi cannot deny this as the details of this can be found in his own website. It is indisputable that Invoke was built on the back of public support.

"The public who supported it did so because they were assured by Rafizi that Invoke existed to ensure fair elections. They supported it for a good cause, and not to enrich anyone," he added. 

Earlier this week, Rafizi included RM16.7 million in shares as part of a total of RM19.67 million in assets owned.

Besides the RM16.7 million declared as "investments", Rafizi listed RM1.1 million in his Employees Provident Fund account as of Oct 31, as well as RM1.6 million in two properties under his name including a three-storey house in Bukit Antarabangsa, Kuala Lumpur.

He also detailed his monthly commitments, bank repayments and expenditures. These included internet and utility costs of RM800, about the same amount he said he was paying when was staying in a condominium in 2015.

'Not-for-profit' Invoke

Rashid said even if Rafizi did not sell or dispose of the Invoke shares, the fact remained that they amounted to "millions in wealth" that the latter now owned. 

"The source of the wealth is the public-interest initiative, Invoke. He has profited, and the profit is massive," he added. 

He also referred to Rafizi's public statement on Sept 28, 2017 that Invoke was a "not for profit organisation". 

"He also said that even if there is profit, Invoke cannot use the profit for personal gain, including for shareholders like himself," he said. "These statements can also be found in his own website. 

"Crucially, nowhere does Rafizi state that the shares are held in trust for utilisation through public programmes or other initiatives that benefit the public. 

"They are declared as his own assets, belonging to him and part of his personal wealth. He is not stated as the nominal owner. Rafizi is the absolute beneficial owner."