The Government has recovered RM79.9mil from the RM250mil loan given to the National Feedlot Corporation (NFC).
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the debt recovery was made by freezing NFC’s accounts through the Anti-Money Laudering Act.
Two plots of land in Putrajaya, three lots of land in Gemas, Negri Sembilan and two properties at Menerong Township with a total asset value of RM23.3mil were also seized by the government to recover the loan.
“There are assets owned by NFC which were not directly bought under the company.
“So, we have to wait until the case is settled in court for us to take further action which is to further seize their assets, valued at RM62.7mil,” he said while winding up the points raised by members during the debate on the Royal address.
Ahmad Husni said the ministry took three measures to resolve the controversial NFC project, namely bringing the case to court, recovering its debts and assets and looking for a new company to takeover the project.
To date, Ahmad Husni said a renowned Japanese agro firm, Kirimitonas Agro Sdn Bhd had expressed interest in taking over NFC.
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