KUALA LUMPUR (Nov 2): PKR deputy president Mohd Rafizi Ramli has declared RM19.67 million in assets ahead of the 15th General Election (GE15) in which he will return to contest for the Pandan Parliamentary seat.

This came after Mohd Rafizi reportedly said last Friday (Oct 28) that PKR candidates for GE15 are required to declare their assets to enable voters to better understand them. Mohd Rafizi led by example with him being the first of PKR’s candidates to declare their assets.

According to an asset declaration document dated Tuesday (Nov 2), equipped with a Commissioner for Oath's stamp, Mohd Rafizi declared, amongst others, RM16.74 million in investments, RM1.65 million in property, and RM1.09 million in his Employee’s Provident Fund (EPF) account, as at Oct 31.

Meanwhile, this came out to net assets of RM18.85 million when pitted against his RM820,274 in declared debt.

Of the RM16.74 million in investments, RM16.7 million is in his company Invoke Solutions Sdn Bhd in which he owns 2.09 million shares in the company valued at RM12.41 million.

“[Mohd Rafizi’s] shareholding in Invoke of 2.09 million shares [in Invoke] is equivalent to 73% of its total issued shares.

“Therefore, the investment declared in this affidavit is based on a 73% stake in the company, from the company’s value of RM17 million [based on net assets as at Oct 31, 2022],” the document read.

As for the remainder, Mohd Rafizi carries RM2.2 million worth of redeemable preference shares in Invoke, as well as RM2.09 million in advances. In terms of public-listed equity, Mohd Rafizi declared 100 shares in Boustead Holdings Bhd, valued at RM58.

Mohd Rafizi, 45, declared RM1.65 million in property, comprising an RM1.2 million two-storey semi-detached house, and an RM450,000 1,400 sq ft three-room condominium, both in Bukit Antarabangsa.

Meanwhile, Mohd Rafizi listed RM820,274 in debt, comprising RM728,020 and RM85,000 in home loans for the aforementioned semi-detached house and condominium respectively, as well as RM7,254 in credit.

In the document, Mohd Rafizi said he has a monthly income of RM23,500, and a monthly expenditure of RM22,500.