Putrajaya determined to recover NFC funds

October 29, 2012

Putrajaya says determined to recover NFC funds

by Clara Chooi @http://www.themalaysianinsider.com

Putrajaya said today it is determined to recover monies lost in the RM250 million National Feedlot Centre (NFC) project, the controversial cattle-farming scheme that hit media headlines last year after it was highlighted for mismanagement in the Auditor-General’s Report 2010.

Responding to several opposition lawmakers in the Dewan Rakyat here, Agriculture and Agro-Based Industry Minister Datuk Seri Noh Omar  said discussions were still ongoing between the government and several companies on the best option that would ensure the government recovers the federal soft loan.

“We want to take over the management (of the NFC) and most importantly, we want to recover the government’s money,” he told the House.

Noh said the Najib Cabinet had elected Deputy Prime Minister Tan Sri Muhyiddin Yassin to lead the discussions, adding that it was imperative that the federal cattle-farming scheme survives as it is an important project for the country’s future.

He stressed that despite the issues surrounding the NFC, the scheme is still operational with some 12,000 cattle reared at 38 out of 57 satellite farms.

When questioned on the financial assets of the National Feedlot Corporation (NFCorp), however, the firm in the centre of the scandal, the minister pointed out to Zuraida Kamaruddin (PKR-Ampang) that the matter was still in the courts.

“I cannot say any more, except that the firm did ask to lift the freeze on its assets… but this could not be approved,” he said.

PKR’s Rafizi Ramli recently said that Putrajaya was unlikely to see the return of the RM250 million in public funds lent to NFCorp even if it initiates a civil suit against the company.

The firm, owned by the family members of former minister Datuk Seri Shahrizat Abdul Jalil and picked to run the NFC cattle-farming project, hit the headlines last year when the Auditor-General in his 2010 report stated that it had missed production targets.

The Opposition Party’s strategy chief, who spearheaded corruption allegations against the company over the project, pointed out that the Auditor-General had in his 2011 report tabled this week in Parliament recommended legal action against NFCorp to claim back public money owed.

He claimed that it was the other companies fully-owned by Shahrizat’s family which had nothing to do with the national feedlot project and not NFCorp that had allegedly embezzled and bought luxury assets.

The Opposition had alleged that NFCorp directors used the loan meant for a federal cattle-farming scheme to buy or finance properties in Kazakhstan and Singapore worth at least RM45 million, and to siphon out at least RM12 million to their own companies in the island state.

PKR had also accused NFCorp of “hunting down” alleged whistleblowers to “put the lid on” claims the company abused the RM250 million federal loan to finance property, luxury cars and expenses unrelated to cattle farming.

Shahrizat, who had headed the Women, Family and Community Development Ministry when the project was awarded to her family in 2006, relinquished her Cabinet post in early April over the allegations against her family.

26 thoughts on “Putrajaya determined to recover NFC funds

  1. Wait and see. Shahrizat will likely sue the Malaysian Government for Rm500 million and then the Court will direct both parties to settle this out of court and like Tajuddin Ramli who got away with Rm8 billion, she will be pocketing rm250 million. It is that easy if you are an UMNO member.–Din Merican

  2. Ever heard of “Gone with the Fart, er.. Wind?” No? This is It – pure gas lembu.
    Rafizi is only partially right – they’re gonna confiscate all the remaining lembu and use these for ‘korban’ to feed the starving masses – should the B2RM fall short. Doesn’t matter if one is Hindu or vegan, the rakyat will definitely be stuffed ‘sup bontot’, Makassar style.

    After all, that’s what a responsible Minister of Women, Family and Community of Bugis nobility would do. Now, let’s see what they can do with NFC’s partner in Kazakhstan..

  3. ah, the art of diversion but mix it up wrongly – it becomes delisional

    “we are determine to recover” ; ahh, if only the same ‘semangat” was used to plan & execute, we wouldnt be mooing about this would we?

    Dato, i have no knowledge and no experience wrt “recover loan” exercise ; so that mean i am highly qualified for senior post since they will usualy undergo recruitment activities wakaka , so where do i attach my CV.??

  4. It depends how the the agreement made out between the agriculture ministry and NFC or under personal name. If it is signed under NFC, the only solution is to dissolve the company like NFC and get a court order to freeze the assets and directors be put under CBT. From the business point of view,the directors would have withdrawn the money from the bank when action was not taken upon hearing of such deals. To recover of such huge amount of money is impossible .

  5. That will be the day when they can recover the money! Fully agree with dinobeano everything will be settled out of court where nobody gets to know the terms.

  6. Read between the lines, mate! Putrajaya wants to recover nfc funds but it didn’t say whether the money recovered will be for Malaysia or for the people that sits in the cosy offices in Putrajaya.

    Get real! these people just want their cut of the loot that they missed the first time around … or maybe a second bite at the cherry

  7. maybe we’ll see some of the money IF umno-bn becomes the opposition. if that happens we will see an exodus of umnoputras to countries like Kasachstan, Singapore and Hong Kong where they’ve stashed away their cash.

  8. umno is determined not to recover but to cover its ass and to cheat as much as posible in the coming election. Dirty tricks are the game of the day and intergrity/honest/truth is immaterial and of no value. If they can easily cover a murder case, this scandal is kajang puteh!

  9. Bullshit … they have not even started talking about Mahathir’s theft , let alone collecting it all back. So Shahrizat’s family of lembu’s, Rm250 million is another foregone conclusion .

    Only a Pakatan government will act on all these theives and bring them to court for justice to be done.

  10. ExNUJ, Absolutely ! That’s the very intention from the beginning, it will al come to Zero – everything cancelled out or fizzles off… in the end, just a white herring to hoodwink the public.
    It has happened, you are right, in the MAS scandal or the Forex scandal – merely a ” show ” . Although it shows ‘ Court Action ‘ after a long drawn hoo…haaa, they are all cancelled off. , like ” Parties have settled out of Court “, nothing else will be made known…..( real stupid, they merely want to ” appease” the public ) – there’s no actual recovery of RM250M, but yes the Cow-shit project is there.

    dinobeano says it all from the beginning, good prediction !.

  11. coming from this minister, or from this BN government ? don’t try to bullshit us la!!

    the modus operandi mentioned by Din will the SOP.

  12. With Rafizi now getting a bite on RM40m ‘donation’ Aman-gate, Rafizi will be huge draw come GE and NFC will rear its ugly head again..They had to come up with something to blunt it but they send the wrong person for the job what with his surrounded by more scandal himself..

  13. Fat hopes, bro. Sharizat’s RM250 million is peanut compared to the billions that Al Kutty had siphoned off during his tenure as Umno head honco. Can we ever recover the lost billions from the Kerala cloth merchant?

  14. Utah-based Judge Naidu wrote about Malaysians suing Al Kutty for all the crimes he had committed when he was helming the country. It’s a good piece for posting on your blog, Din. It will bring the best from readers – both pro and anti Al Kutty.

    The feature piece is in Malaysiakini.

  15. Din.when the asset of NFC less than the liabilities,how do you expected to recover the money.Even if the sell Bangsar condo,Singapore condo and meatwork the most they can recover 60 m.

  16. The BN government has lost complete credibility. Nobody believe a word uttered especially if these words is spun as a “promise” and especially if these words come out from the like of Nazri, Hishammuddin, Noh Omar or Puad Zarkashi… a bunch of clowns if you ask me. A government which has lost the complete trust of the elctorate and the people they govern should recline itself from being the government….

    If they cannot even recover RM40 million in Sing Dollars in a Salvatore Ferragano brief case confiscated at HK Airport, tell me how could they confiscate RM250 million filtered through to condos, holidays, Mercedeses and credit cards…..

    Determination my dear Nazri? Malaysians are already smart with the choice of spun words from Putarjaya… yes Putarjaya, not Putrajaya!

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