Loan agreement shows NFCorp broke terms, says Pua

KUALA LUMPUR, Feb 25 — DAP MP Tony Pua today revealed the loan agreement signed by the National Feedlot Corporation (NFCorp), which he claimed proved the company had violated conditions attached to the RM250 million facility.

The DAP publicity chief pointed out that Clause 3 of the agreement clearly states that the federal loan should be used to “part finance the project as described in the First Schedule of this agreement”.

The First Schedule states that use of the loan must be “consistent with the government of Malaysia’s policy of developing, promoting and nurturing the production of beef and beef products through the National Feedlot Centre as a centre for commercial and integrated cattle feedlot”.