2 more condos bought near to S'pore casino: Shahrizats must earn RM500k p/m to afford!

True to his promise, PKR strategy director Rafizi Ramli has dropped the latest bombshell on the RM250 million NFC financial debacle. Two more more super-luxury condos in Singapore's Marina Bay - nearby to the casino and costing RM17 million ach - were bought by Umno minister Shahrizat Jalil's family, according to the PKR leader.

Rafizi also revealed another disturbing trend. He believes that Shahrizat's husband Salleh Ismail, also the NFC chairman, and Wan Shahinur Izran, her son and NFC director, had bought the units using the government-controlled NFC cattle breeding project as carrots to get approval.

“We believe the loans were approved because they control funds of RM250 million, which is lucrative for any bank. Any bank would want RM250 million.  They put [the RM250 million] in banks to leverage financing for personal purchases. This is a purchase that must be investigated by police,” Rafizi was reported as telling the press on Wednesday.

5 condos so far

The loans were obtained from Maybank and United Overseas Bank. To prove their accusation, PKR leaders also distributed to reporters documents from the Singapore Land Authority showing Salleh and Izran had purchased the units

“The bigger question is, how does the family pay back the monthly repayments? Assuming a 25 year-loan. They must pay RM173,000 each month for these two condos.  And this is not including [other condominium units] One Menerung and Orchard’s Court,” he added, referring to his previous claims of condo buys by the Wanita Umno chief’s family," warned Rafizi.

He pointed out that till now, the Malaysian Anti-Corruption Commission had failed to investigate PKR's earlier disclosure that NFCorp, a private firm owned by the Shahrizats and which was granted a RM250 million government soft loan to develop NFC, had placed a RM180 million fixed deposit with Maybank in 2009.

According to Rafizi, the two condominiums units — one worth RM17.2 million and the other, RM17.4 million — were in the same building as Brawn Steakhouse, a high-end restaurant owned by Shahrizat’s family. "My suspicion is that money is channeled through layers of companies owned by Shahrizat’s family in Singapore,” said Rafizi.

Prove you can afford it then, Rafizi dares Shahrizat

Rafizi also challenged Shahrizat, who has refused to step down despite mounting calls to quit from Umno elders including former premier Mahathir Mohamad and ex-Wanita chief Rafidah Aziz, to prove how else she could afford to buy such costly condos if the loans were not linked to the money for the NFC project.

“I dare Shahrizat to come forward and detail the income of the family by which they collect such assets. Your combined household income must be RM500,000 a month to service the debts of all the condos,” said Rafizi.

Malaysia Chronicle