RAFIZI DARES NFCORP TO REVEAL MEETING MINUTES ON CONDO APPROVAL

(Malay Mail Online) – PKR lawmaker Rafizi Ramli today challenged the National Feedlot Corporation (NFCorp) to reveal the meeting minutes of its board of directors and its annual general meeting (AGM), after alleging the company retrospectively approved the purchase of two luxury condominium units.

The Pandan MP was responding to NFCorp executive chairman Datuk Seri Dr Mohamad Salleh Ismail ― who has been acquitted of criminal breach of trust charges in relation to RM49.7 million of funds meant for a cattle rearing government project ― who was quoted by news portal Malaysiakini yesterday as saying that the approval was given in 2009, the same year the units were bought.

“NFC made four money transfers from its current account directly to Bandar Raya Developments Berhad (BDRB) on December 2, 2009, which was three weeks before the date NFC approved the money transfer on December 23, 2009, as what Datuk Seri Salleh Ismail acknowledged,” Rafizi told a press conference at the Parliament lobby, using the NFC initials to refer to NFCorp.

“This means that when the four money transfers happened, they still were not approved as money transfers can only be made upon approval,” the opposition MP added.

He also said the money transfers, which were made through cheques, were channeled directly to BDRB to pay for the purchase of the two condominium units at One Menerung in Kuala Lumpur, not to the National Meat and Livestock Corporation (NMLC) as claimed by Salleh yesterday.

“At the time the four money transfers were made on December 2, 2009, to pay for the condominiums, NMLC still was a company that had nothing to do with NFC because NMLC was fully owned by Datuk Seri Shahrizat Jalil’s family,” said Rafizi, referring to the Wanita Umno head and former women, family and community development minister.

Malaysiakini reported Salleh as saying yesterday that NFCorp’s board of directors and shareholders approved the transfer of the money knowing it would be channeled to its subsidiary, NMLC, but acknowledged that NMLC was only made a subsidiary after the money transfer.

“Therefore, I challenge NFC to reveal all the minutes of meeting of the board of directors and the AGM about these decisions so that the people can see for themselves how the decision to make NMLC a subsidiary was only done after funds were transferred without prior approval,” said Rafizi.

NFCorp was previously given a RM250 million federal loan for a cattle farming project, the National Feedlot Centre, that later featured in the Auditor-General’s annual report for 2010 over irregularities found.