NFCorp chairman: New owner will settle debt in three months

NFCorp chairman: New owner will settle debt in three months

PUCHONG: National Feedlot Corporation (NFCorp) chairman Datuk Sri Dr Mohamad Salleh Ismail said that the debts owed by the company to the government will settled by the new owners if the government gave a green light for a company restructure.

“The new owners have agreed to make the full settlement of NFCorp’s debts withn three months once the government agrees to a company restructure plan.  We are still waiting for the government’s green light,” he said in a statement, without naming the new.

Salleh also said that the new buyer is willing to accept the initial loan liability of NFCorp.

“They are also willing to make a full redemption payment to the total sum loan from the government,” he said, adding that this was already relayed to Prime Minister Tun Dr Mahathir Mohamad in a letter dated Nov 21, 2018.

He said this in response to calls from Finance Minister Lim Guan Eng who said that the National Feedlot Corporation (NFCorp) still owed the government over RM250 million.

The minister added that the Attorney General Chambers would be roped in to ensure that the government regained the funds.

“The Finance Ministry has decided to seek full repayment of the loan to NFCorp, and this matter was referred to the Attorney General’s Chambers (AGC) on Aug 29 last year for further action.

“The AGC is currently looking into the matter and will announce the latest development when available,” he said.

The NFCorp chairman believes that Lim’s statement came as a result of a letter sent

Salleh also said that the new buyer is willing and is confident of reviving and restructuring NFCorp. “They have already begun negotiations with the government, especially the Agriculture and Agro Industries Ministry to plan this revival in view of achieving the goals of national food security goals.  This is especially so in the production of halal food.”

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