Invoke Staff Will Get Shares When Company Is Listed Says Rafizi

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PKR deputy president Rafizi Ramli said young staff members at Invoke had helped increase the company’s value to tens of millions in two years.PETALING JAYA: Invoke staff will be given shares when the company is listed on the stock exchange in the future, says Rafizi Ramli, founder of the data analytics firm.
The PKR deputy president said this would be just reward for the hard work put in by its youthful staff.
“The young staff members at Invoke have helped increase the company’s value to tens of millions (of ringgit) in two years. When Invoke is listed, they will all get shares,” he said in a Facebook post.
Last week, Rafizi, who is contesting the Pandan parliamentary seat in the upcoming 15th general election (GE15), declared RM16.74 million in investments, which included Invoke shares said to be worth RM16.7 million.
Bersatu Supreme Council member Abdul Latiff Ahmad then asked Rafizi to explain why there were only 14 shareholders in the company, including Rafizi himself, who is listed as the firm’s majority shareholder.
According to Latiff, Rafizi had in 2017 said that the company would  allot shares to Invoke staff who, he said, “had sacrificed much” for the company.
Rafizi said the distribution of the shares was contingent on his staff proving themselves to be “smart, creative, hardworking, brave and honest”.
He pointed out that he employed 150 young people between the ages of 22 and 27, 70% of whom were Malay.
“Some 30% of them scored straight As in SPM and obtained first-class degrees from leading universities such as Cambridge, Oxford, Cornell and UCL,” he said, adding that they had expertise in the field of technology, digital marketing and software engineering.
After Rafizi’s asset declaration last week, another Bersatu man, former Batu Pahat MP Rashid Hasnon, pointed out that Invoke was set up as a not-for-profit organisation and was not meant to enrich anyone.
He said statements on Rafizi’s website showed that Invoke could not use its profits for gain, meaning that it could not confer benefits on its shareholders. - FMT

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