Malaysia

Where did Rafizi get RM2.5 mil to start Invoke, asks Latiff

Bersatu leader seems to however have missed explanation on Facebook

Updated 3 years ago · Published on 12 Nov 2022 2:06PM

Where did Rafizi get RM2.5 mil to start Invoke, asks Latiff
Datuk Abdul Latiff Ahmad, who has been a target of Rafizi Ramli’s exposés on the littoral combat ship scandal, notes Rafizi only had RM1.54 million in assets in an asset declaration filed in 2015. – Bernama pic, November 12, 2022

KUALA LUMPUR – Bersatu leader Datuk Abdul Latiff Ahmad has questioned the RM2.5 million Rafizi Ramili said he used as capital to start his company Invoke Sdn Bhd, saying the PKR leader did not have as many assets in 2015.

Latiff, who has been a target of Rafizi’s exposés on the littoral combat ship scandal, said Rafizi only had RM1.54 million in assets in an asset declaration filed in 2015.

“This sum does not just represent money, but also other assets like land and cars.

“(RM2.5 million) is obviously much higher than all of his assets in 2015. Where did this money come from, and why wasn’t it mentioned in the legal document made on March 10, 2015?” the former minister and Bersatu supreme council member asked in a statement.

Latiff was questioning Rafizi’s explanation on his social media channels that he used his own savings to start Invoke, a company that does data analytics and which Rafizi has used for PKR’s own surveys.

Given the contradiction, Latiff said police and Malaysian Anti-Corruption Commission should investigate Rafizi, Latiff added.

He also said Rafizi had made a false statement in his 2015 asset declaration.

“I urge the authorities to investigate this problem seriously, given that Invoke has also solicited and received significant public backing, including financial assistance,” he said.  

Latiff, however, appears to have missed Rafizi’s explanation on where he got the RM2.5 million to start Invoke.

On November 8, the PKR man posted a video and Facebook post stating that the funds came from his savings in Tabung Haji and Amanah Saham Bumiputera over the years since he was young.

He said he started putting money into Invoke gradually since 2016.

The RM2.5 million in savings came from these investments funded by high salaries he earned while working in London, when the pound was RM6, and from working in Petronas after returning to Malaysia.

Rafizi said as a department head in the national oil company, he drew a salary of RM25,000 a month, and was also paid RM400,000 in compensation when Petronas reduced its retirement age for employees from 60 to 55 years. 

Ralso said he received 10 to 12 months’ bonus, every year, for seven years while working at Petronas.

“My gross income a year when I was in my late 20s was around RM500,000 a year,” Rafizi had said, adding that savings from this were used to start Invoke.

Rafizi had also said that a large portion of the RM17 million in Invoke shares were owned by investors, and would one day be sold to the public when the company is listed. – The Vibes, November 12, 2022

Related News

Malaysia / 2y

7.7 mil people registered in Padu, 2.5 mil cyberattacks, but not one success: Rafizi

Malaysia / 2y

Something fishy: More leaders berate Rafizi as Padu deadline draws near

Malaysia / 2y

Padu system to avoid leakages in distribution of subsidies, aid, says PM

Malaysia / 2y

Progressive wage policy a strategy to boost employee compensation

Malaysia / 2y

Rafizi says RON95 targeted subsidy to start after June 2024

Malaysia / 2y

Rafizi says support for Anwar has gone up

Spotlight

Malaysia

Documents reveal British royal charity attempted to ‘doctor’ evidence in SLAPP action

Malaysia

MMA asks why FDS aircraft cannot match those used by ministers

Malaysia

Penang-born woman dies in Perth after alleged domestic violence assault

Malaysia

No senior UMNO leaders to be arrested after PAU – MACC

Malaysia

Hng’s 31-year Gerakan exit puts focus on political direction

By Alfian Z.M. Tahir

Malaysia

Man held after social media claim he solicited alms while carrying parang

Malaysia

Volcanic escalation on Java a threat of potential regional chaos

Malaysia

Anwar surprised by Najib's new pardon attempt

You may be interested

Malaysia

UMNO warns Malay unity must not alienate non-Malays, Sabah and Sarawak

Malaysia

MMA asks why FDS aircraft cannot match those used by ministers

Malaysia

Documents reveal British royal charity attempted to ‘doctor’ evidence in SLAPP action

Malaysia

Lawyer denies Abdul Azeez chose to appear in lock-up uniform, handcuffs

Malaysia

Syabu accounts for 70% of drugs smuggled into Malaysia through Thailand

Malaysia

Najib’s pardon application deferred

By Alfian Z.M. Tahir

Malaysia

Fadillah returns to Cabinet after heart bypass surgery

Malaysia

Man held after social media claim he solicited alms while carrying parang