Rafizi says gov't gave approval for NFC condo purchase

PKR lawmaker Rafizi Ramli today alleged that the National Feedlot Corporation (NFC) made a retrospective approvalat its annual general meeting (AGM) to approve the purchase two units of luxury condominium six years ago.

This allowed NFC executive chairman Mohamad Salleh Ismail, who was charged with two counts of criminal breach of trust, to be acquited today.

This was, however rebutted by Salleh after his acquital. He claimed the relevant approval was given in 2009, the same year two units at One Menerung Condominium buidling were purchased.

"My sources has told me there was a retrospective approval given in order to make sure this cannot be considered as criminal breach of trust," Rafizi told a press conference at Parliament's obby.

"I was informed that they had gotten the approval somewhere in June. So, the (AGM) should have been much more earlier than that," he said.

"While I don't have a full memorandum of the articles of association, my guess is that this is made through an AGM. Usually a capital purchase of above RM10 million, it should have been made at an AGM," he said.

A retrospective approval is accepted under the Companies Act and it was also accepted by the courts as well, he added.

He said the NFC only has two shareholders who are the government which holds the golden share as well as Agroscience Industries Sdn Bhd, which wholly-owned by the family of Umno Wanita chief Sharizat Abdul Jalil.

"Therefore, when an AGM is called, it only involves Salleh, the family as well as one or two representatives of the government," he said.

"If the one or two government representatives do not approve it, this is not possible," he said.

Rafizi, however, claimed the administration of Prime Minister Najib Abdul Razak had given the approval as the government representative who sit on the NFC board do not have the power to approve the purchase of condominiums.

"If the NFC scandal only involved Sharizat's family before, now it expands to Umno as the leadership of the party allowed the purchase," he said.

"I don't know if we ever see the full of RM250 million (soft loan)," said Rafizi, who is also Pandan MP.

In rebutting Rafizi's statement, Salleh said NFC had approved the transfer of money to the National Meat & Livestock Corporation (NMLC) Sdn Bhd on Dec 23, 2009 to allow the purchase of properties, included One Menerung Condominium.

"An AGM was held then to allow the (NFC) board to transfer money to NMLC," he said.

[More to follow]

Mkini