Citing his own research, Rafizi said the government had paid Miltech International Pty Ltd, the company which was in possession of the building, 58% more than the price the firm had paid nine months prior.

The building, purchased by the Higher Education Ministry at AUD10.271 million (estimated to be around RM30 million) in December 2013, was meant to be converted into a Malaysia Hall to provide accommodation for Malaysian students.

The original price, when bought by Miltech International in March 2013, was AUD6.5 million.

“This company (Miltech International) had made a profit of 58% in the period of nine months after it bought the building,” said Rafizi, who is PKR secretary-general, in a press conference at the Parliament lobby here today.

The Pandan MP added that although the surplus was only RM11 million, it proved the prevalence of corruption under Prime Minister Najib Razak’s administration.

“A lot of things can be done with the RM11 million. You can channel it to the Public Service Department (JPA) for scholarships to students who were meant to study overseas but can no longer do so.”

Rafizi also claimed to be in possession of the complete information on who had profited from the sale and the owner of the company that had sold the building. This information, however, would be revealed at a later date, he added.

“I’m urging the ministry to provide an explanation as to how this situation transpired and name those responsible for the purchase.”