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Thursday, November 10, 2011

‘Luxury condo purchased with NFC money’

Sulaiman Kamal | 10:06 PM | | | Best Blogger Tips

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Are cows sleeping in this condominium? This is the question posed by a PKR MP with regard to the controversy surrounding the National Feedlot Corporation, which is run by a minister's family.
Continuing its attack on the National Feedlot Centre (NFC), PKR today alleged that taxpayers’ money allocated for the company was used to buy a luxury condominium worth RM9.8 million in upmarket Bangsar.
The money for the condo unit at One Menerung, Bangsar, was supposedly taken from the RM81 million given by NFC as a loan to the National Livestock and Meats Corporation (NLMC), a subsidiary contracted as its marketing development agent, PKR said.
Both the NFC and NLMC are owned and operated by the husband and children of Shahrizat Abdul Jalil, the Womens Affair and Family Development Minister.

The RM81 million was allegedly “siphoned” from NFC, PKR secretary-general Saifuddin Nasution said.
“Are we actually seeing cows sleeping in the condo?” he told reporters at Parliament lobby here.
Saifuddin, the Machang MP, is one of the main PKR figures leading the assault against Shahrizat’s NFC.
He said that RM9,758,140 was transferred from NFC’s CIMB account in Taman Tun Dr Ismail, Kuala Lumpur, to Bandar Raya Developments Bhd on Dec 2, 2009, as full payment for the property.
Yesterday, Umno Youth chief Khairy Jamaluddin defended the NFC project, saying that money from the soft loan to NLMC could only be drawn after NFC tables a working paper and is approved by the finance ministry.
Agriculture and Agro-based Industries Minister Noh Omar also said the loan given to NFC was subject to strict scrutiny and approval by the Treasury’s committee.
PKR claimed that all of the RM256 million loan has been taken, citing the financial report of the cattle breeding company. But Noh maintained that only RM135 million had been drawn.
What special account?

Saifuddin said the purchase of the property contradicted both Noh and Khairy’s defence that the money was placed under strict care.

“It was not from a special trust account. So the Umno Youth chief and minister’s explanations are false.
“If there was strict monitoring, surely RM9.8 million cannot be transferred to buy a luxury condominium that has nothing to do with cattle farming. This is a clear breach of trust by Shahrizat’s family,” he said.
PKR strategic director Rafizi Ramli, who was present, asked how NFC, despite incurring an RM11 million loss in 2009, could afford to buy a luxury condominium.
The Auditor-General’s Report released last month had described the NFC project as a “mess”. The report said production in 2010 was only 3,289 head of cattle or 41.1% of the target set.
But Noh that the project was a success as it had met its targets, given that “the total number of cattle brought into the farm was 8,016 between 2008 and 2010″.
Shahrizat, the Wanita chief, said the reply given by Noh was enough to clear the controversy, adding that she was happy that the ministry will continue to monitor the project.
She said also said the allegation against NFC was aimed at “destroying” her wing.
PKR leaders have also lodged a report with the Malaysian Anti-Corruption Commission today, saying they expect a thorough investigation.

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