KUALA LUMPUR, Feb 21 — Former economy minister Datuk Seri Rafizi Ramli has rejected allegations linking the launch of his social enterprises, Fleximart and Kesom, to a supposed RM1.1 billion fund, calling the claims “illogical” and “a conjecture that makes no sense”.

Appearing on the Yang Berhenti Menteri (YBM) podcast with moderator Haziq Azfar Ishak and Petaling Jaya MP Lee Chean Chung yesterday, Rafizi said the narrative was unreasonable for anyone being accused of extraordinary wealth.

He added that if he genuinely possessed RM1.1 billion, “I would not be renting a house and running a kedai runcit (grocery shop).”

Clarifying how he financed the ventures, Rafizi explained that the start-up capital came from the gratuity he received after completing his term as an MP and minister.

“There was RM400,000 in gratuity. So it made sense to use that money to start a social enterprise. It benefits a lot of people,” he said.

He said the gratuity formula for a first-term MP and minister amounted to nearly RM400,000, which he channelled entirely into developing an affordable business model for the public.

Rafizi also addressed personal attacks by former Bersatu member Faiz Na’aman, who recently joined PKR, describing them as a “desperate” attempt to gain attention from party leaders or secure a position.

“He hasn’t received a seat, so now he needs to make accusations and become a bruiser. Maybe he hopes that will earn him a seat,” he said, adding that he was unfazed by the accusations but warning of the religious weight carried by making false allegations.

“There is the sin of slander to carry.”