NFC queries suit against it

  • Nation
  • Tuesday, 04 Jun 2019

PETALING JAYA: The National Feedlot Corporation (NFC) has questioned the suit filed in court against it by the Attorney General, saying that it offered last year to pay in full the RM250mil loan it took more than 10 years ago.

NFC chairman Datuk Dr Mohamad Salleh Ismail said they had started the process of redeveloping and restructuring the organisation.

He said several discussions were held with the Agriculture and Agro-based Industry Ministry, and these had been positively received.

He said a letter on the full repayment of the loan had been sent to Finance Minister Lim Guan Eng on May 17, but NFC had yet to receive any response.

Like all Malaysians, Mohamad Salleh said he wanted the issue to be resolved as soon as possible with the agreement of the government.

He added that they would fully cooperate with the government.

Mohamad Salleh said he was confident that NFC would be able to pay back the amount owed to the government and the aspirations of the project would be fulfilled.

The Edge had reported that the Attorney General’s Chambers (AGC) filed a statement of claim against NFC for RM253.62mil owed to the government with the Kuala Lumpur High Court last Friday.

Named in the claim are Mohamad Salleh and his three children, and six other companies owned by the family. Mohamad Salleh is the husband of former Wanita Umno chief Tan Sri Shahrizat Abdul Jalil.

The claim against NFC and the Salleh family amounts to RM253.62mil and represents the amount owed to the government, together with interest of 2% per annum and default interest on RM224.77mil.

It was reported that the government would also be seeking a declaration from the court to have Mohamad Salleh’s family personally liable for the debt repayment, the sum of RM118.04mil misappropriated from the loan and secret profits arising from it, as well as Putrajaya’s entitlement to claim equitable title to the properties bought using NFC’s RM250mil loan from the government.

The NFC, set up in 2007 with its subsidiary National Feedlot Centre to expand the local beef industry, was meant to reduce dependency on imported beef.

However, the project became embroiled in controversy for being poorly managed as noted in the Auditor-General’s Report 2011.

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