How did Mamfor raise the RM19.5 million for the donation?

Question

Accepted Answer

Mamfor Raised RM19.5 Million Through Borrowings for Political Donations

Mamfor Sdn Bhd secured the RM19.5 million for political donations by borrowing funds from its managing director's mother and younger brother's companies. Specifically, RM7 million was borrowed from Majulia Sdn Bhd, a company owned by Mamfor’s managing director Shahradzi Shamsuddin's mother, Rahmah Kassim. An additional RM13.772 million was borrowed from Sutracom, a company owned by Shahradzi's younger brother, Shahrin. These combined borrowings were then channelled as donations to the political party Pribumi Bersatu Malaysia (Bersatu).
Loans Secured from Related Companies

The substantial sum of RM19.5 million was not generated from Mamfor's own operational funds but was acquired through specific financial arrangements. Shahradzi Shamsuddin, the managing director of Mamfor, testified that he personally arranged these loans. The decision to borrow was driven by a request to make a significant donation to Bersatu, which was linked to the potential awarding of a RM605.2 million government project under the Jana Wibawa programme.
Borrowing from Mother's Company

A significant portion of the funds, RM7 million, was borrowed from Majulia Sdn Bhd. This company is identified as belonging to Shahradzi’s mother, Rahmah Kassim. This inter-company borrowing highlights a reliance on closely related entities to facilitate the required financial contribution.
Borrowing from Brother's Company

The remaining RM13.772 million was borrowed from Sutracom Sdn Bhd. Sutracom is owned by Shahradzi's younger brother, Shahrin. The total borrowed amount of RM20.772 million (RM7 million + RM13.772 million) was used to meet the RM19.5 million donation requirement.

Reading history

Hide →

This history is cleared when the page is closed.

How did Mamfor raise the RM19.5 million for the donation?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends