Pressure mounts on Rafizi over RM17 million windfall from ‘loss-making’ Invoke


PKR Deputy President Rafizi Ramli was under further investigation today over his recent asset statement, which showed a huge increase of RM17 million in seven years, with questions about the value of approximately RM12 million in the assets of a PKR-affiliated company in the period of less than year.

dr Bersatu’s Abdul Latiff Ahmad questioned the value of shares in Invoke Solutions, a company run by Rafizi, saying it posted losses of -RM4.7 million on its net worth in December last year.

“However, in Rafizi’s statement on October 31, 2022, that figure had risen to RM17 million.

“For the sake of transparency, as Rafizi often pointed out, people have a right to know what led to such a sudden increase in value.”

Latiff added that Rafizi should release Invoke’s contracts or revenue streams for 2022.

Last week, the PKR leader’s wealth declaration ahead of his candidacy for the Pandan seat caused a stir as RM16.7 million in shares of Invoke was included in his personal fortune.

This caused his personal wealth to increase to a total of RM19.67 million from just RM1.5 million in 2015.

Johor Perikatan Nasional leader Rashid Hasnon then reminded Rafizi that Invoke had received public support through fundraisers.

“Rafizi cannot deny this as the details on this can be found on his own website. It is undeniable that Invoke was built on public support,” said Rashid, a former PKR man.

“The source of the wealth is the public interest initiative, Invoke. He’s benefited from it and the gain is huge,” he added.

Tycoon among 14 shareholders

Latiff also recalled a 2017 statement by Rafizi that Invoke shares would be distributed among his employees.

He said a search of the Companies Commission turned up only 14 Invoke shareholders, including a tycoon and a PKR MP.

“Rafizi holds 73% or the lion’s share, followed by a business tycoon named Lee Choo Boo, while the third largest shareholder is PKR MP Wong Chen.”

Other shareholders include PKR’s Akmal Nasrullah and Onn Abu Bakar, Latiff said.

“Also named is an engineering company and a foreigner known as Hassan Mia Sonday,” he said, adding that Lee is the CEO of Itramas Corporation.

“In light of the above shareholders, what happened to the promise made in 2017 to distribute the shares to Invoke employees?

“Again in 2017, Rafizi indicated that there were almost 80 employees at Invoke. Does he no longer want to share millions of dollars in fortunes through Invoke shares with those who sacrificed for him to make Invoke a success?”


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