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KUALA LUMPUR, Nov 4, 2015:

The controversial firm Darul Ehsan Investment Group (DEIG) has admitted applying for loans from a few banks worth RM500 million.

However, its chief operating officer (COO), Soffan Affendi Aminudin, claimed that the loan offer was rejected by the Menteri Besar Incorporated (MBI) board of directors after it was presented by the management.

“It is true, one of the ways was to get a loan. We had presented to the board and they rejected the management’s proposal.

“We came up with a strategic plan to look at what we have and our main issue was in terms of legacy, which is our debt with the state government.

“There are plenty of means to solve the issue, for example by taking up loans, development projects and such.

“DEIG remains non-operational and based on a capital of RM2,” he said when met at the Selangor state assembly lobby today.

Earlier, Barisan Nasional (BN) secretary assemblyman Budiman Mohd Zohdi had revealed that DEIG, via its subsidiary company, DEIG Land Sdn Bhd, had received a loan offer amounting to RM500 million from a local bank.

According to him, when the loan was made and approved, DEIG Land only had two board directors and two shareholders, with shares valued at RM1 each. They were chief executive officer (CEO) Raja Shahreen Raja Othman and Soffan Affendi.

Following that, Budiman urged Selangor Menteri Besar, Mohamed Azmin Ali to clarify how a company which was yet to operate was able to receive such a loan offer.

Soffan, when asked, was unsure whether at the time the loan was applied, the DEIG Land board of directors were still just Shahreen and himself.

In addition, DEIG Land was not considered operational yet due to the fact that the government-owned firm had not received the loan offer

“We did not discuss it in detail (with the bank). When we received the offer from the bank, we will discuss further.

“What we have done so far was we accepted the offer from the bank. We presented it but it was not approved. Thus, we did not lay out the details.

“DEIG can only be considered to be operating if it receives the loan. Then figure out how to pay the loan.

“We can discuss the details of the offer, but only after we have received it.

“In this case, we did not take up the offer.”

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