YOURSAY 'This is a stupid answer given by Agriculture Minister Noh Omar. The money is the rakyat's money and the government is responsible.'
Cow condo purchase: 'Gov't has no say'
Open Minded: I am not sure whether I have read it correctly. Agriculture Minister Noh Omar stated that the government has no control as to how the National Feedlot Corporation (NFC) money is spent once it is disbursed.
No wonder the level of protection of funds for their intended and solicited use is up to the recipient, and it allows room for unscrupulous and frivolous usage as there is no monitoring mechanism in place.
As I see it, the money is public funds and must not be used to speculate on stocks or property or anything apart from the intended purpose.
Already we are spending tomorrow's income and this spells doom for our future generation, who could end up being international beggars or a source of cheap labour.
Malaysians cannot hope for change without removing the problem. The signs are very obvious - it's necessary to boot out this group of wolves in sheep's clothing.
Oscar Kilo: "If there was indeed (a purchase of a condominium) then definitely such claims would not be disbursed, because the disbursements require the approval from the technical committee chaired by the director of Veterinary Department and the Finance Ministry," said Noh Omar.
But the money was disbursed. So how?
L Joy: Of course, this Umno minister knows that money can't be used for investing on property because any loan given for any particular purpose has always been specified in the loan conditions to be useable for that purpose, and that only.
The minister knows he is lying outright because he surely must have at one time taken out a bank loan that says the money is for buying houses only. These lying Umno ministers will say anything, no matter how stupid, to fend off questions of impropriety.
There is foul play right from day one because the government has awarded contracts to a top politician's family. Get that right. The government must be charged for criminal breach of trust, nothing less.
Onyourtoes: Please don't wash your hands on this matter. The company gets a soft loan from the government, presumably at preferential interest rates or without even having to pay it back. How then can you allow the money to be disbursed without proper scrutiny?
It is unthinkable to me the government leaders can be that careless. Let me ask you a simple question - if it is your own money, would you want to do this project or disburse the money that carelessly?
Minister, in the past, corruption used to represent 10 percent of the value of a project, and for that, out of no choice, the people had to stomach it. Now, as I can see, corruption is 90 percent of the value of the project.
It is not like the people are naturally anti-government or anti-BN. How can the people accept this when those involved in the swindle are still in office and enjoying the good life?
By the way, what happened to the tuna fish project - you know, catching the tuna in the Indian Ocean and towing them to Penang? The bonds on this project have already been issued.
Pity Him: Donkeys are smarter. RM181 million has been disbursed without checks and balances for the project, and they are treating the nation's money as rightfully theirs.
Bernard Phillips: Does the minister realise just how absurd his statement is to the public. But perhaps that easily explains just how our country is being administered.
For years as I drive around Kuala Lumpur and see the luxurious multimillion dollar bunglows and apartments, I wonder just who could afford to live in them. Well, I need wonder no more. It is the new elite of Malaysian society - those Umno-BN politicians and their cronies.
Did the minister get a 7-10 discount because she is a bumiputera? And who pays for these? The silly Malaysians who continue to vote in these parasites.
But we do have another opportunity to send a message to Umno and BN. So people set aside your minor differences - it doesn't matter whether you are a Malay or non-Malay, Muslim or non-Muslim.
There is only one common foe, a disease that has permeated our beloved country rendering it weak and sick and the laughing stock of the world. Which other country in the world are there politicans who so freely rape our resources so unashamedly?
D4f: Money given out is as good as gone to the bottom of the ocean. That's Umno's logic.
Ksn: Was not the loan of RM250 million given for a specific purpose at low interest rates, viz to produce beef so that the country's import of the meat will be drastically reduced?
Can that loan be used for purposes other than specified like buying condos, etc, and stupidly call it investment? Is it not a breach of conditions? What about the M&A (memorandum and articles) of the company? Does it allow such investments? Should not the directors be held responsible?
Under the circumstances, should not the loan which is public funds be recalled. Instead of doing things to safeguard and demand refunds, we have ministers like this one, putting their hands up and pleading helplessness?
Is it being said here that the government is helpless to redress the situation? Will the country soon hear that the RM250 million is written off as bad debt?
Swipenter: Noh Omar, please tell us whether the RM181 million so far disbursed to NFC from the SLA (special loan account) was in accordance with progressive work done.
You may not have the answer now but can you check ‘with the technical committee chaired by the director of the Veterinary Department and the Finance Ministry'.
Who verified and approved the actual physical progress work done and was it audited thereafter? Everybody knows that progress payments are disbursed according to actual amount of work done but here they admitted that there were no cows then.
Was the loan progressively disbursed against paper claims submitted by NFC with no physical on the site verification?
And the brilliant idea of buying the RM9.6 penthouse as investment instead of leaving the money idle in the bank by NLMC (National Livestock and Meats Corporation) - in the first place, how could NFC grant the loan to NLMC when there were no cows for them to market then?
Tkc: If the contract was properly drawn up, I am sure there is a clause in there that says that if the funds are not used for its intended purposes, the government has a right to recall the loans.
There will also be other stipulations such as expected IRR (internal rate of return), personal guarantees, collaterals, debentures, etc. In short, there are plenty of opportunities for the government - the appointed guardians of taxpayers' monies - to penalise NFC if it wanted to.
Artchan: The government may claim to have no say, but can't the government demand some accountability from Shahrizat Abdul Jalil's family?
Technically speaking, they cheated. They took the money for a cattle project and used the money to buy a condo. I would expect them to be queried as to why the company drew down the allocation when there were no cows being supplied to the market?
Or is Shahrizat taking Mohd Noh for a cow?
Cow condo purchase: 'Gov't has no say'
Open Minded: I am not sure whether I have read it correctly. Agriculture Minister Noh Omar stated that the government has no control as to how the National Feedlot Corporation (NFC) money is spent once it is disbursed.No wonder the level of protection of funds for their intended and solicited use is up to the recipient, and it allows room for unscrupulous and frivolous usage as there is no monitoring mechanism in place.
As I see it, the money is public funds and must not be used to speculate on stocks or property or anything apart from the intended purpose.
Already we are spending tomorrow's income and this spells doom for our future generation, who could end up being international beggars or a source of cheap labour.
Malaysians cannot hope for change without removing the problem. The signs are very obvious - it's necessary to boot out this group of wolves in sheep's clothing.
Oscar Kilo: "If there was indeed (a purchase of a condominium) then definitely such claims would not be disbursed, because the disbursements require the approval from the technical committee chaired by the director of Veterinary Department and the Finance Ministry," said Noh Omar.
But the money was disbursed. So how?
L Joy: Of course, this Umno minister knows that money can't be used for investing on property because any loan given for any particular purpose has always been specified in the loan conditions to be useable for that purpose, and that only.
The minister knows he is lying outright because he surely must have at one time taken out a bank loan that says the money is for buying houses only. These lying Umno ministers will say anything, no matter how stupid, to fend off questions of impropriety.
There is foul play right from day one because the government has awarded contracts to a top politician's family. Get that right. The government must be charged for criminal breach of trust, nothing less.
Onyourtoes: Please don't wash your hands on this matter. The company gets a soft loan from the government, presumably at preferential interest rates or without even having to pay it back. How then can you allow the money to be disbursed without proper scrutiny?
It is unthinkable to me the government leaders can be that careless. Let me ask you a simple question - if it is your own money, would you want to do this project or disburse the money that carelessly?
Minister, in the past, corruption used to represent 10 percent of the value of a project, and for that, out of no choice, the people had to stomach it. Now, as I can see, corruption is 90 percent of the value of the project.
It is not like the people are naturally anti-government or anti-BN. How can the people accept this when those involved in the swindle are still in office and enjoying the good life?
By the way, what happened to the tuna fish project - you know, catching the tuna in the Indian Ocean and towing them to Penang? The bonds on this project have already been issued.
Pity Him: Donkeys are smarter. RM181 million has been disbursed without checks and balances for the project, and they are treating the nation's money as rightfully theirs.
Bernard Phillips: Does the minister realise just how absurd his statement is to the public. But perhaps that easily explains just how our country is being administered.
For years as I drive around Kuala Lumpur and see the luxurious multimillion dollar bunglows and apartments, I wonder just who could afford to live in them. Well, I need wonder no more. It is the new elite of Malaysian society - those Umno-BN politicians and their cronies.
Did the minister get a 7-10 discount because she is a bumiputera? And who pays for these? The silly Malaysians who continue to vote in these parasites.
But we do have another opportunity to send a message to Umno and BN. So people set aside your minor differences - it doesn't matter whether you are a Malay or non-Malay, Muslim or non-Muslim.
There is only one common foe, a disease that has permeated our beloved country rendering it weak and sick and the laughing stock of the world. Which other country in the world are there politicans who so freely rape our resources so unashamedly?
D4f: Money given out is as good as gone to the bottom of the ocean. That's Umno's logic.
Ksn: Was not the loan of RM250 million given for a specific purpose at low interest rates, viz to produce beef so that the country's import of the meat will be drastically reduced?
Can that loan be used for purposes other than specified like buying condos, etc, and stupidly call it investment? Is it not a breach of conditions? What about the M&A (memorandum and articles) of the company? Does it allow such investments? Should not the directors be held responsible?
Under the circumstances, should not the loan which is public funds be recalled. Instead of doing things to safeguard and demand refunds, we have ministers like this one, putting their hands up and pleading helplessness?
Is it being said here that the government is helpless to redress the situation? Will the country soon hear that the RM250 million is written off as bad debt?
Swipenter: Noh Omar, please tell us whether the RM181 million so far disbursed to NFC from the SLA (special loan account) was in accordance with progressive work done.
You may not have the answer now but can you check ‘with the technical committee chaired by the director of the Veterinary Department and the Finance Ministry'.
Who verified and approved the actual physical progress work done and was it audited thereafter? Everybody knows that progress payments are disbursed according to actual amount of work done but here they admitted that there were no cows then.
Was the loan progressively disbursed against paper claims submitted by NFC with no physical on the site verification?
And the brilliant idea of buying the RM9.6 penthouse as investment instead of leaving the money idle in the bank by NLMC (National Livestock and Meats Corporation) - in the first place, how could NFC grant the loan to NLMC when there were no cows for them to market then?
Tkc: If the contract was properly drawn up, I am sure there is a clause in there that says that if the funds are not used for its intended purposes, the government has a right to recall the loans.
There will also be other stipulations such as expected IRR (internal rate of return), personal guarantees, collaterals, debentures, etc. In short, there are plenty of opportunities for the government - the appointed guardians of taxpayers' monies - to penalise NFC if it wanted to.
Artchan: The government may claim to have no say, but can't the government demand some accountability from Shahrizat Abdul Jalil's family?
Technically speaking, they cheated. They took the money for a cattle project and used the money to buy a condo. I would expect them to be queried as to why the company drew down the allocation when there were no cows being supplied to the market?
Or is Shahrizat taking Mohd Noh for a cow?
- Malaysiakini
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