The National Feedlot Corporation (NFC) today expressed shock and bewilderment at the police’s recommendations that its chairperson Mohamed Salleh Ismail be charged under criminal breach of trust (CBT).
“NFC is shocked and puzzled that the Bukit Aman director of commercial crimes Syed Ismail Syed Azizan had prematurely issued such a statement when he himself had admitted that the investigations are still ongoing and therefore still incomplete,” it said in a statement.
The statement prepared by the firm’s public relations department stated that the company is addressing the police claim on advice of its counsel Shafee Abdullah.
“NFC questions the prudence and motive behind such a statement as it seems to be an attempt to unfairly pre-empt the honourable attorney-general’s decision over the matter.
“Is the director of commercial crimes attempting to usurp the powers of the honourable attorney-general who in law is the sole authority under the constitution to decide if there is a crime or not for purposes of prosecution?” asked NFC further.
‘Not a criminal matter’
NFC argued that the companies where the funds were channeled to, were always meant to be its subsidiaries with its directors also sitting on the boards of the other companies.
The transfers, it argued, were part of a 2009 proposal to novate the loan agreement, and rationalise the company structure, bringing all associated companies and assets within the NFC so that the government loan will be better secured.
NFC contended that the commercial crimes investigation department “had failed to understand the dynamics of the facts and the law in the issue”.
The company argued, that according to Shafee, any breaches in its loan agreement on funds not being used for its intended purpose already has a civil remedy inbuilt in the loan agreement and therefore “not a criminal matter”.
The company contends that Shafee also added that the fact that NFC is rationalising the various associated companies shows it had no dishonest intentions.
“NFC wishes to enquire the police if, in their investigations, they had paid enough consideration to the fact that there is total lacking of the elements of dishonesty in this case, which is a primary ingredient of CBT and cheating?” said the company questioning the police further.
NFC: Truth will prevail
The company however, said that it will continue to extend its cooperation to police and the Malaysian Anti-Corruption Commission, to “ensure that the truth prevails”.
NFC’s statement were made following media reports quoting Syed Ismail stating that police investigations into the RM250 million cattle venture issue had indicated that there were elements of CBT and cheating, recommending the firm’s chairperson be charged.
The chairperson is the husband of Shahrizat Abdul Jalil, the women’s, family and community development minister.
The Bukit Aman commercial crimes investigations director said the proposal was in the investigation paper being prepared by police after it had been returned from the attorney-general's office on Tuesday to investigate several other matters.
The firm owned by Shahrizat’s family grabbed headlines after irregularities pointed out by the Auditor General’s report became follow up fodder for the opposition, who made more allegations of improper financial conduct, causing public outroar.
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