Findings by the public accounts committee (PAC) on the National Feedlot Corporation (NFC) scandal pointed to Finance Ministry officials who lacked procedural and legal knowledge in executing their duties as representatives and watchdogs within the company.
“We found that officers who represented the (Finance) Ministry in NFC were not skilled in their responsibilities as a board member.
“Maybe they know their responsibilities but their actions to ensure that certain procedures are carried out in the proper manner were not taken,” PAC chairperson Azmi Khalid told a press conference this evening after chairing the panel’s meeting.
“We found that officers who represented the (Finance) Ministry in NFC were not skilled in their responsibilities as a board member.
“Maybe they know their responsibilities but their actions to ensure that certain procedures are carried out in the proper manner were not taken,” PAC chairperson Azmi Khalid told a press conference this evening after chairing the panel’s meeting.
This, he added, was in turn caused by weaknesses from the instructions issued by the higher-ups in the ministry as a result of weak standard operating procedures (SOP).
“I do not know if they (Finance Ministry officers) were given proper instructions but whatever we came across... it sounds like the SOP has got to spell out the full responsibilities (of officers sitting on the NFC board).
“And the Companies Act is very specific in its rules, there are certain things directors should understand and know,” said Azmi, who is also Padang Besar MP.
However, he refused to say whether this was a direct cause of the alleged corruption that happened in the company.
He also insisted on not going into specifics, citing the ongoing court case against NFC chairperson Mohamad Salleh Ismail who has been chargedwith two counts of criminal breach of trust and violating the Companies Act respectively.
NFC has been accused of abusing part of a RM250 million government loan fund, intended for it to manage the national beef valley, on luxury properties and holidays.
Among those called to testify at the meeting today were representatives from the Finance Ministry, Agriculture Ministry and Veterinary Department.
Azmi added that the committee will deliberate on when its next meeting on the NFC matter will be held to prepare its report.
“I do not know if they (Finance Ministry officers) were given proper instructions but whatever we came across... it sounds like the SOP has got to spell out the full responsibilities (of officers sitting on the NFC board).
“And the Companies Act is very specific in its rules, there are certain things directors should understand and know,” said Azmi, who is also Padang Besar MP.
However, he refused to say whether this was a direct cause of the alleged corruption that happened in the company.
He also insisted on not going into specifics, citing the ongoing court case against NFC chairperson Mohamad Salleh Ismail who has been chargedwith two counts of criminal breach of trust and violating the Companies Act respectively.NFC has been accused of abusing part of a RM250 million government loan fund, intended for it to manage the national beef valley, on luxury properties and holidays.
Among those called to testify at the meeting today were representatives from the Finance Ministry, Agriculture Ministry and Veterinary Department.
Azmi added that the committee will deliberate on when its next meeting on the NFC matter will be held to prepare its report.
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