Rent-for-profit claim is wrong, NFC tells PKR

National Feedlot Corporation (NFC) director Wan Shahinur Izran Salleh has justified the decision to lease out his personal property to an associate company, arguing that the shoplot in Solaris Mont Kiara offers a “superb location” for business.

"The main reason is the superb location, and everything is done without profit and at market rate. The superb location has created huge attention to our products and allowed us to enter the market successfully," he claimed when contacted.

Solaris Mont Kiara is an upmarket commercial district in Kuala Lumpur, comprising high-end condominiums, office units and retail space.

PKR strategy director Rafizi Ramli had earlier today accused Izran and his father Mohamad Salleh Ismail, the NFC executive chairperson, of leasing out their personal properties to the company and its associates for “lucrative” returns.

One of the properties owned by Izran is rented by Meatworks Restaurant. This is operated by NFC associate company, the Real Food Company, to market the beef produced from the NFC’s cattle-rearing project.

"There is no gain or profit. Don't forget, we are owners of the (NFC) business, too. It is in our interests to make it financially successful,” Isran said

"From the NFC standpoint, rental is the same either way. We always take the best financial decisions, but (the interpretation is) always twisted by PKR.”

"We had many enquiries from supermarket buyers after we opened Meatworks. Before, they didn't even want to return our call(s).

"Now demand for products has far outstripped capacity of our mini abattoir. With an export- quality abattoir built, we can slaughter 200 head of cattle per day, making NFC the first successful beef venture production in Malaysia's history."

Property-purchase predates NFC

Izran, 27, revealed that the properties were purchased before NFC was established.

"When NFC needed space, we thought it was a good space. And this has proven true," he said.

Izran stressed that all the decisions made by him and his family-members involved in the project are in the NFC’s interests.

"There is huge potential. We want to make it a success. We can really make something out of it. NFC rented the lot because of its superb location. That's why that decision was made.

"But any decision that we make is always twisted to make it look bad. But NFC is our company and it is in our interest to make it a success.”