NFCorp boss: My son and I could afford to buy 8 office lots

National Feedlot Corporation (NFC) chairperson Mohamad Salleh Ismail said he and his son could afford to buy the eight KL Eco City office lots without using the RM250 million soft loan given to the firm for the feedlot project.

He said this when grilled by lawyer Razlan Hadri Zulkifli at the Kuala Lumpur High Court in the defamation suit brought against the latter's client PKR's Pandan MP Rafizi Ramli.

Last Tuesday, Salleh had told the court that the deal did not happen as the bank had withdrawn the loan's offer letter in January 2012 following Rafizi's vicious attack on the National Feedlot Centre.

Today, Salleh said both his son Wan Shahinur Izran Salleh and himself could afford to pay the monthly instalment for the eight office lots for the next 20 years.

He, however, refused to reveal the source of his income to repay the loan.

Razlan: (If the loan had not been cancelled), you would have to pay RM9,357 to RM9,805 for each unit for 20 years. That would add up to RM59,000 loan repayment per month.

There is a lot to pay. (Don't you think so?)

Salleh: Compare to what? In our plan, we can afford it.

Razlan: You had not intended to take the money from NFC?

Salleh: No.

Razlan: How much you would be the downpayment?

Salleh: 10 percent (of the property price).

Razlan: That would be something like RM1 million.

Salleh: (Nodded).

Razlan: In 2011, what is the source of income for you and your son? Did not the income come solely from NFC?

Salleh: I don't want to answer.

Razlan: You refused to answer. You and your son had no other income except (from) NFC.

Salleh: Not correct.

Razlan said the father and son would have to repay RM59,000 for the eight units based on his calculation.

However, based on Razlan's estimation that the duo would need to repay RM9,000 for each unit per month, then the total loan repayments for the eight lots would be more than RM70,000.

Razlan claimed that according to the NFC's implementation plan, the duo should not have other businesses than NFC.

"And you had testified earlier that NFC never issued dividend between 2008 and 2012," he said.

"You and your son as well as the National Meat and Livestock Sdn Bhd went on a property buying spree - Bangsar's One Menerung and Singapore after the projects were given to you, agree?" he asked.

However, Salleh's lawyer M David Morais raised objection, claiming this had nothing to do with the suit brought by Salleh.

News portal Malaysiakini is the second defendant in the suit. It was represented by lawyer S Shanmugam.

On June 3, 2013, Salleh and NFCorp sued Rafizi and Malaysiakini over Rafizi's statements in a March 7, 2012 press conference that was reported the same day.

Last Tuesday, Salleh said the purchase was made to enlarge the NFCorp office, where it intended to occupy four units and possibly sell the four.

The reason for this, he added, was that the existing NFCorp office in Phileo Damansara was too small.

Salleh will continue to testify before judicial commissioner Azizul Azmi Adnan tomorrow morning. Rafizi was represented by lawyer Ranjit Singh.-Mkini