PKR vice-president Rafizi Ramli has questioned the ability of two government-backed luxury projects in Langkawi, particularly the St Regis hotel, to generate profit.

The Pandan MP said he could run a more profitable hotel.

However, details about the hotel's financial performance since its opening in 2016 is currently unavailable.

Rafizi claimed St Regis Langkawi, in which he said Putrajaya invested over RM300 million, had been making continuous losses since its ground breaking ceremony in 2013.

"I too can make a hotel business like this, I think it will be more profitable.

"I can make more profit than the continuous losses (by St Regis Langkawi)," he told a press conference at the parliament media room this afternoon.

St Regis Langkawi is a joint-venture between the government and Indonesia's Rajawali group.

According to a parliamentary written reply by the Finance Ministry last week, the hotel was completed in October 2015, and news reports said the hotel opened in April last year.

Financial reports from the Companies Commission furnished by Rafizi for Intergrated Nautical Resort Sdn Bhd - the joint venture company running St Regis Langkawi - state that as of the financial year ending Dec 31 2015, the hotel made zero revenue.

It has however racked up a net loss of RM2.7 million in 2015, and a net loss of RM3.7 million in 2014.

The 2015 financial report was tabled in June 2016.

Rafizi said "Umno cybertroopers" would likely brush off his concerns by stating that the hotel is not yet fully operational.

"But even if St Regis Langkawi is not fully operational, it raises the question on whether they can generate enough income to pay off their loans and debts," he added.

St Regis received RM247m loan

Rafizi said St Regis Langkawi had received a RM247 million loan from Bank Pembangunan.

Meanwhile, Rafizi also trained his guns on the Langkawi International Convention Centre (LICC), which is also a joint venture between Putrajaya and Rajawali Group.

The LICC, which was completed in Feb 2015, had recorded a revenue of RM4.6 million that year, but a net-loss of RM1.9 million.

Rafizi said the convention centre should have performed better financially, as the Asean summit was held in Langkawi that year.

"It is not every year that you have a top-regional summit there, so 2015 should have shown better results.

"So even when the Asean summit is there and you are not showing any returns, what more for other years then?" he asked.

Rafizi claimed the government controlled 60 percent stake in both St Regis Langkawi and LICC, while the remaining 40 percent is owned by Rajawali group boss Peter Sondakh.

However, he said the government had paid for 90 percent of the project, injecting RM379 million, while Sondakh only put in RM41 million for his 40 percent stake.