National Feedlot Corporation (NFC) has lamented its position, saying it had been a profitable venture had it not been “viciously attacked in its infancy”.

Pointing out that with the placement of its funds with the Accountant-General, the company could not continue with its operations.

“Until the funds are returned, NFC regrets it is unable to generate an income to repay the subsequent 2014 loan instalment,” NFC chief communication consultant Ghazalie Abdullah said in a statement today.

“Our ability to repay our commitment would not falter if the business had not been disrupted as evidenced by our repayments of 2012 and 2013.”

NFC was commenting on a Nov 5 report in Malaysiakini that the federal government will cancel its contract with NFC and subsequently take legal action against it for defaulting in payments.

The Finance Ministry, in a written answer to Parliament, said Pusat Fidlot Nasional, which is under the NFC, had failed to fulfil its progressive repayment of the government's RM250 million loan to it for the year 2014, and had also failed to comply with subsequent demands to make the payment.

Two different entities

Meanwhile, Ghazalie pointed out that the focus of the Auditor-General’s Report 2010 was on the performance of the project Pusat Fidlot Nasional by the Ministry of Agriculture and Agro-based Industry.

Stressing that the company, NFC, and the project Pusat Fidlot Nasional are two separate entities, he also pointed out that the auditor-general in his 2010 report had distinguished the two.

“The company National Feedlot Corporation is merely an integrator for the Pusat Fidlot Nasional project.

“If one is to peruse in greater depth the Auditor-General’s 2010 Report, one can see where the shortcomings are.”

As for the government grant, Ghazalie said the auditor-general clearly stated in his 2010 report that only RM6.52 million had been disbursed to the company NFC and not RM20 million as “claimed and misrepresented by the opposition”.

“The colossal onslaught of lies, distortions and misrepresentations by the opposition from November 2011 and the disclosure of confidential banking information, had caused immense outrage and a misunderstood public.

“This resulted in the government freezing the assets and funds of the NFC,” he said.


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