Gov't urged to freeze NFC assets before EGM

PKR has urged the government to freeze the assets of National Feedlot Corporation (NFC), prompted by fears that it may restructure itself this week, thus hampering police investigations on the company.

Party strategic director Rafizi Ramli said he has obtained information that the NFC will be holding an emergency general meeting and a board member meeting sometime this week. 

He said that the EGM was called within a suspiciously short three- day notice, which he claims shows that something was brewing.

"I understand among the agenda to be discussed including the takeover of the National Meat and Livestock Corporation, a company owned by Women and Family Development Minister Shahrizat Abdul Jalil's family. NFC is a GLC through a special share owned by the Finance Ministry.

"I believe that the hurried action to call the NFC Board of directors and EGM may have untoward intention and may hamper on-going investigations by the authorities," he said.

Rafizi also said that they want prime minister Najib Abdul Razak, who is also the Finance Minister not to sit on his laurels and intervene by freezing any activities and decision by the company from using the RM250 million fund given by the Malaysian government.

He said the proper move for Najib to ensure corporate governance should be to appoint proper special administrators to run the NFC, as the company has hitherto shown several cases of questionable practise.

Also present at the press conference is PKR's investment and business bureau chairperson Wong Chen.

[More to come]