TRADING Places at MIDLIFE Investments Ltd: 'It was resolved that Latifa Khaiyum who has resigned as Director of Midlife be accepted and Adi Ela Cagimaira Konifereti Sayed-Khaiyum be accepted as Director-Secretary..'

COMING: Main Contractor TULSI CONSTRUCTION PTE LTD family DONATED Thousands of Dollars to FijiFIRST Party but Legal or Illegal?

From Midlife Investments Ltd company records it is clear that Khaiyum's mother only relinquished her share on 30 November 2019. In his Declaration of Assets (1 October 2018) for the 2018 Election below, as we pointed out previously, there is no mention of his mother's share that she had held in the company. In the same Declaration, he did not bother to declare any value of the two companies, Midlife and Abide Ltd

The change in directorship details for Midlife Investments Ltd was filed by SUNIL SHARMA, senior partner with Nur Ali Bano, of PKF aliz pacific.
Both of them donated to the FijiFIRST PARTY

JUST LOOK AT THE ANNUAL RETURNS: ALL FILED on 23 APRIL 2015 when Midlife Investments Ltd was incorporated on 15 August 2006

OFFICE OF
THE OPPOSITION LEADER
Parliament House
SUVA
 
29th October, 2015
 
The Chairman
Electoral Commission
Election Office
Suva.
 
Dear Sir,
 
Re: False Declaration of Assets & Liabilities
 
Further to my letter to you dated October 28th and delivered to your good offices this morning, I advise that I have come into further information related to the matter of the false declaration of Assets & Liabilities of Hon Khaiyum.
 
I refer to point 7 of the attached FICAC findings quote ‘it became evident that the property in question was purchased by and is owned by Midlife Investment Limited (MIL) being a legal person via a mortgage valued at $80,000 and an equitable contribution of $20,000 by Hon Mr Sayed-Khaiyum.  Therefore it is apparent that Hon Khaiyum has not understated the value of the asset in his declaration dated 24th February 2015 in which he had a conditional equitable interest value of which is in fact lesser then the amount declared. In fact the asset he owns as far as MIL is concerned are the 99 shares in it’ unquote
 
I believe that FICAC has erred because from a search carried out this morning we have been able to establish the following:-

1. Ownership of Midlife Investments Limited CO 19010 Incorporated on August 15th 2006. Based on Annual Returns for 2006 and 2007 filed on April 23rd 2015, it shows that Hon Sayed –Khaiyum owns 99 shares and Latifa Khaiyum owns 1 share. Hon Khaiyum is also company secretary. Therefore Hon Khaiyum owned 99% of the Midlife Investments for the past 9 years including its assets. He was also Company Secretary and Director.
2. In the annual returns of Midlife Investments Limited for 2006 and 2007 the liability listed is $80,000 which is the amount borrowed by the company from National Bank of Fiji T/A Colonial National Bank Mortgage No 593803 on 29 August 2006 and discharged on August 19 2008 No 708225, negating absolutely FICAC’s claim that Hon Khaiyum’s interest in the asset was not the majority interest.
3. The facts are now clear. When Hon Khaiyum declared Lot 13 as his asset, he owned 99% of it through his equitable contribution of $20,000 and ownership of 99% of the shares in Midlife Investments Limited.
4.  Furthermore, via the transfer certificate No 593802, Hon Khaiyum and Midlife Investments Limited paid $100,000 for Lot 13 on August 29th 2006 and that is the value of the property and not the $80,000 he stated in his declaration.
5. By declaring it to be worth $80,000 in 2015, 9 years after he purchased it for $100,000, Hon Khaiyum committed an offence.
6. To be clear, my complaint is not about the value of the asset being overstated or understated; as FICAC determined, my complaint is that Hon Khaiyum made a false declaration plain and simple.

In addition, Hon Khaiyum committed another offence by failing to furnish information about his 99 shares referred to in FICAC’s letter as being held by him in Midlife Investments and his returns from 2006 to 2014 now confirm, he also failed to declare his 99 shares in Latifa Investments Limited and all of these are required to declared by the Political Parties (Registration, Conduct, Funding and Disclosures) Decree 2013.
  
I have instructed my staff to provide you with copies of all of the documents obtained from the Registrar’s office this morning.
Yours Sincerely, 
 
Hon. Ro Teimumu Kepa
Leader of Opposition