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Wednesday, October 27, 2021
HomeBusiness/NewsMalaysia's ex-PM Najib slapped with Bankruptcy Notice from LHDN

Malaysia’s ex-PM Najib slapped with Bankruptcy Notice from LHDN

Despite being one of the man that stands on top of the social hierarchy, former Prime Minister of Malaysia, Datuk Seri Najib Razak has been served with a bankruptcy notice by Inland Revenue Board (LHDN) for failing to settle his RM1.69 billion tax bill.

According to NST, interest of 5 percent per annum will be charged between the period from 22 July 2020 to 4 Feb 2021 and the interest alone amounts to RM45.9 million. The total tax bill accumulates to RM1.73 billion!

LHDN said that Najib did not comply with the demands from the notice and hence, a bankruptcy proceeding was filed against him.

Source: Rojak Daily

This is not the end of the story. Being declared a bankrupt will cause him being disqualified as Member of Parliament (MP) for Pekan, paving the way for a by-election.

Furthermore, Najib will not be eligible to contest in the coming party polls and elections.

As reported in FMT, Najib is currently surviving on solely his savings and will lose it all just for the lawyer fees for the court case.

Despite facing all these hardship, Najib said he would not be cowed by those who are abusing their powers to persecute him.

“I will still continue to speak up for Malaysians.”

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