National Feedlot Centre (NFC) denied that government funds were used for the controversial purchase of a RM9.8 million luxury condominium, said Minister of Agriculture and Agro-based Industries Noh Omar.
The minister explained that once NFC received money from the government, it was thereafter considered the company’s private funds and the government had no say as to how it would be used.
In a Sinar Harian report today, Noh (left) explained that the government had loaned NFC RM250 million made into a special loan account (SLA) in Maybank that was controlled by the Finance Ministry.
Noh said RM181 million from that account had been disbursed to NFC based on the latter’s claims.
The government only had control of funds that were in the SLA, but had none over how the company spends the money once it has been disbursed said the minister.
“If the money has been paid to NFC after fulfilling set conditions, the government cannot control what NFC does with it including purchasing the said condominium, because it then considered the company’s money.
“Claims made by NFC are related to farm management only, and has absolutely nothing to do with the purchase of condominiums.
“If there was indeed (a purchase of a condominium) then definitely such claims would not be reimbursed, because disbursements require the approval from the technical committee chaired by the director of veterinary department and the Finance Ministry,” said Noh while officiating a parents and teachers’ association meeting in Tanjong Karang, Selangor last night.
[More to follow]
The minister explained that once NFC received money from the government, it was thereafter considered the company’s private funds and the government had no say as to how it would be used.In a Sinar Harian report today, Noh (left) explained that the government had loaned NFC RM250 million made into a special loan account (SLA) in Maybank that was controlled by the Finance Ministry.
Noh said RM181 million from that account had been disbursed to NFC based on the latter’s claims.
The government only had control of funds that were in the SLA, but had none over how the company spends the money once it has been disbursed said the minister.
“If the money has been paid to NFC after fulfilling set conditions, the government cannot control what NFC does with it including purchasing the said condominium, because it then considered the company’s money.
“Claims made by NFC are related to farm management only, and has absolutely nothing to do with the purchase of condominiums.
“If there was indeed (a purchase of a condominium) then definitely such claims would not be reimbursed, because disbursements require the approval from the technical committee chaired by the director of veterinary department and the Finance Ministry,” said Noh while officiating a parents and teachers’ association meeting in Tanjong Karang, Selangor last night.
[More to follow]
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