Published: Wednesday April 4, 2012 MYT 9:52:00 AM
ALOR SETAR: Kuala Nerang assemblyman Datuk Syed Sobri Syed Hashim said he was declared a bankrupt after failing to settle an RM8mil debt with a local bank.
Syed Sobri, who is Padang Terap Umno division vice-chief, said the debt was part of a RM50mil loan taken in 1998 to list his company Kulim Enterprise Sdn Bhd on the second board of Bursa Saham Malaysia, at the time.
Explaining the situation to about 300 party members and leaders at his house here on Tuesday, he said due to the economic crisis then, the company failed to be listed and he had to shoulder the debt.
He added that he was declared a bankrupt by the Kuala Lumpur High Court in December last year.
He said he had met Kedah Mentri Besar Datuk Seri Azizan Abdul Razak on the matter and Umno leaders had also been informed.
Under Article 47 (1) (b) of the Kedah Constitution, a member of the State Legislative Assembly who is an undischarged bankrupt can be disqualified.
Syed Sobri, who contested for the first time in the 2008 general election defeated PAS candidate Zawawi Ahmad by a majority of 805 votes. BERNAMA
Wednesday, 4 April 2012
Get Elected And Be Rich...Really?
It may just become a footnote in history but for those who insist that troubled elected representatives will get a free pass from the government, then what do you make of this? So who is being unfair in making allegations without substantiation?