PKR: NFC spent RM10m for Singapore condo

UPDATED @ 01:54:56 PM 20-12-2011 (TMI)

(From left): PAS’s Dr Dzulkefly Ahmad and PKR’s Saifuddin, Rafizi Ramli and Zuraida Kamaruddin holding up pictures of the posh Orchard Scotts Residence in Singapore. — Picture by Clara Chooi

PETALING JAYA, Dec 20 — PKR revealed yet another startling expose today in the ongoing National Feedlot Centre (NFC) controversy, alleging that some RM10 million was siphoned to purchase another luxury condominium — this time in Singapore — for minister Datuk Seri Shahrizat Abd Jalil’s family.PKR secretary-general Saifuddin Nasution said the 2,282-square feet condominium, one of the largest available at the posh Orchard Scotts Residences on Anthony Road, was purchased for S$4.1 million by the senior minister’s family members on January 27 last year.


A view of the posh Orchard Scotts Residences. — Picture courtesy of

According to the currency exchange rate at the time of purchase, he said the unit would have cost about RM9.9 million.“What is even more nauseating is that the unit was registered directly under the names of Shahrizat’s family members, instead of the company… they were jointly registered under (husband) Datuk Seri Dr Mohamad Salleh Ismail and their two children Izran and Izzana,” he told a press conference today.

PKR strategy director Rafizi Ramli however admitted later that the party was unable to trace the actual money trail between NFC’s funds and the condominium purchase.

He however pointed out that previous records had also shown the direct transfer of funds between Real Foods Company (RFC) and the National Meat and Livestock Corporation (NMLC), both owned by Shahrizat’s family members, and two other companies that they own in Singapore.

“What we really have to question is how a loss-making business like the NFC could afford to make four real estate purchases — almost RM30 million of real estate… two pieces of land and two purchases of condominium units.

“Plus, on the meagre salary of a minister? And the family’s businesses are all running into losses… I have full confidence that if the MACC (Malaysian Anti-Corruption Commission) or the police were to pore over all the relevant transactions, you will see the money trail,” he said.

Mohamad Salleh, who is also NFC executive chairman, was recently forced to admit to NFC’s purchase of two condominium units at the luxurius One Menerung in Bangsar for a staggering RM6.9 million each. He however claimed the purchase was for investment reasons, saying that the units were rental cash cows.

Saifuddin noted today that the latest expose on the Singapore condominium purchase “completes” PKR’s earlier revelations that NFC funds have been channelled to set up and fund Singapore-based companies Meatworks (Singapore) Pte Ltd and Global Biofuture Pte Ltd, both of which are also owned by Shahrizat’s family.

Last month, PKR revealed financial records showing that companies currently have debts with the RFC amounting to RM939,495 (Global Future) and RM2,416,815 (Meatworks).

Today, Saifuddin also revealed a copy of an email correspondence between Izran and one Donna Yong, who purportedly manages the family’s Meatworks business in Singapore, discussing funds to manage the luxurious eatery.

“For the duration of three months between October and December 2010, Shahrizat’s family transferred an estimated S$530,000 or RM1.3 million from the government’s funds to manage its personal business in Singapore,” he said.

“If this happened throughout 2010 and 2011, it is likely the funds have surpassed RM10 million for the business in Singapore.”

He said Prime Minister Datuk Seri Najib Razak could ill-afford to prolong his “golden silence” on the matter and urged the authorities to freeze all of NFC’s funds and activities pending an in-depth investigation into the scandal.

PKR will also lodge another report with the MACC tomorrow.

Police had recently claimed that there was no element of breach of trust in the NFC. Since the issue blew up in the media, Shahrizat has pointedly avoided explaining the matter and merely told the recently-concluded Umno annual general assembly that it had nothing to do with her.

4 thoughts on “PKR: NFC spent RM10m for Singapore condo

  1. Hi everyone,

    If the RM250 millions soft-loan given NFC had instead been given to 1000 bona-fide rural Malay farmers, each would have received RM250 000 seed money to start their respective cattle farms!

    If 50% or 500 of these farmers perform, the spillover effect on the rural communities would have multiplied many folds! This then is really helping the Malays, but instead, UMNOputras help themselves to taxpayers’ money on the pretext of helping the Malays and the nation! They are actually helping themselves, enriching themselves at the expense of the ordinary Malays and even UMNO members!

    So, I hope my Malay brothers and sisters, especially those in the rural area, would put a stop to this exploitation of their interests by so-called protectors of ‘race and religion’ by voting out UMNO and BN in the next GE! Don’t allow this ‘harapkan pagar pagar makan padi’ type to continue the plunder of the nation’s riches!

  2. We want to know this RM250mil soft loan how it is going to be repay?How long will be the repayment period? According to AG’s report,the NFC project is in a mess,so I wonder how NFC going to pay back the loan? Is there any guarantee to make sure the loan will be paid back in full?
    Also it was reported that the interest will only be calculated upon full disbursement of the full loan(ie RM250mil).Now that about RM187mil has been disbursed(as reported),so does that mean that the govt cannot charge the interest(because not fully disbursed) and so NFC will enjoy free interest all this while.

  3. This is what happens when cronies get free funding by UMNO government. If only this had been distributed to rural malays to encourage them to rear cattles, we would have a many who would have become much richer. Even Felda should have gone on this cattle breeding as this would have reduced our outflow to purchase cattles and meat from other countries.

  4. You guys can put all the evidence on a platter for MACC and MACC will still say there is no case.
    It is amazing, they can get a team to investigate and hound TBH on a non-issue case and they did nothing to the rm 24,000 laptop nor all the misappropriations reported by the Auditor General. I feel sorry for the AG, all his effort for nothing and who knows he might be retired early or else….. Now you guys, can you see how that Mamakhutty has messsed up this country. Someone, somehow got to pay for all these.

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