The government sues NFC and Shahrizat’s family to repay the RM253 million loan

 

KUALA LUMPUR:  The federal government has filed a lawsuit seeking to reclaim RM253 million loaned to the National Feedlot Corp (NFC) which is owned or managed by former Wanita Umno chief Tan Sri Shahrizat Abdul Jalil’s husband and family, The Edge reported today.

According to The Edge, the Attorney General’s Chambers (AGC) filed the lawsuit last week against Shahriazat’s husband, Datuk Mohamad Salleh Ismail; their three children; and six of the family’s firms as respondents.

The family’s companies also named in the suit are National Meat & Livestock Corp Sdn Bhd, Real Food Co Sdn Bhd, Meatworks Corp Sdn Bhd, Agroscience Industries Sdn Bhd, Asian Bioscience Corp Sdn Bhd and Techknowlogy Imageware (M) Sdn Bhd.

The RM253 million sum claimed represents a RM225 million portion of the RM250 million loan to the firm that had been tasked with developing the local cattle industry, with the application of 2 per cent annual interest and additional interest as a result of default.

The suit is also seeking a court declaration to make the family personally liable for the repayments as well as RM118 million allegedly misappropriated, along with any undeclared profit and income that may have arisen as a result of their use. – The Edge/MalayMail

 
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Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

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