A lot of young brilliant people wants to borrow RM9.2 million but do not know where to go. As a service to the rakyat, perhaps Khairy can tell us whom we should see.

On Khairy: I borrowed RM9.2 mil to buy shares

Simon: I fully agree with BOLH on the collateral issue and Ibnu Hakeem on section 131 of the Companies Act. Though the shares itself can act as a collateral but to what percentage is the financing?

Let assume that this ‘special’ financial institution can grant 100% financing on a single counter since to our knowledge a bank is only willing to finance up to 50% for a single counter purchase. Usually the securities firm will charge a higher interest rate than a traditional bank, presently in the region of 2% + BLR = 2% + 6.75% = 8.75%.

Let say this special financial institution can charge at the same rate at 8.75% per annum - and with a loan of RM9.2 million - it will amount to RM805,000 per annum. We know very well that Khairy Jamaluddin is unemployed presently, how can he repay this interest, let alone the principal sum? How is the principal sum be repaid? The securities firm will usually roll-over for a three-monthly period, but the interest still need to be served. Can someone introduce this financial institution to me?