GOV'T GETS BACK RM79.9 MLN FROM RM250 MLN LOANED TO NFCORP

12 Jul 2013 11:19

KUALA LUMPUR, July 11 (Bernama) -- The government has got back RM79.9 million from the RM250 million loaned out to National Feedlot Corporation (NFCorp) for its National Feedlot Centre (NFC) project.

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said this followed action taken by his ministry under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.

He said the government also sealed NFC's assets worth RM23.3 million, namely two pieces of land in Putrajaya, two units of real estate in Menerung Township Villa and three plots of land in Gemas.

"Out of the RM250 million, close to RM80 million has been received and RM170 million yet to be received," he said when winding up the debate for his ministry on the motion of thanks for the royal address in the Dewan Rakyat today.

The NFC controversy drew much public attention after the Auditor-General's Report 2010 commented that it failed to fulfil the aim of its establishment while the opposition alleged misappropriation of the government's RM250 million soft loan given to NFCorp for the NFC project.

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PARLIAMENT-WRAPUP (NFC) 2 (LAST) KUALA LUMPUR

Earlier, at a press conference, Ahmad Husni said the ministry took three steps to resolve the NFC project controversy, namely bringing the case to court, taking over or getting back the amount owed and the assets, and finding a new company to continue the project.

He said Kirimitonas Agro Sdn Bhd (KASB), a joint-venture company between a local investor and a meat-producing company in Japan, had expressed interest to take over the NFC project.

"They will bear the NFC's liabilities. However, the government is still studying the company's financial capacity and technical capability to take over the project," he added.

-- BERNAMA

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