Putrajaya is confident of recovering an outstanding RM70 million from a RM250 million soft loan for the scandal-hit National Feedlot Centre (NFC), Finance Minister II Datuk Seri Ahmad Husni Hanadzlah said today.
But he told parliament today it would take some time to get back the money as it involved technical matters.
Husni also said a Malaysian-Japanese joint-venture is negotiating now to take over the project and has pledged to pay all outstanding debts incurred by the project manager National Feedlot Corporation (NFC).
He said Kirimitonas Agro Sdn Bhd had signed a letter of intent to take over the project in April and negotiation would take six months.
However, the minister admitted not knowing how the company plans recoup the money used to pay off NFC's debts, saying that more negotiations need to take place before their intent is clear.
More to follow
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