The National Feedlot Corporation (NFCorp) has denied using its government soft loan of RM250 million as leverage to purchase eight commercial properties in the KL Eco City development in Jalan Bangsar here as alleged by opposition lawmakers. “They had some consultants come in and were advised to use the money market to make these purchases,” he said.
According to documents from one bank, which Rafizi said were provided by a whistleblower, NFCorp directors had parked portions of NFC’s millions in two banks as fixed deposits. This, he explained, was to help them obtain “credit facilities” from the said banks in order to purchase a series of allegations for buying luxury properties instead of focusing on a national cattle-farming project to bring down the country’s food import bill. “NFCorp wishes to state that the NFCorp directors had parked portions of NFC’s millions in two banks as fixed deposits.
This, he explained, was to help them obtain “credit facilities” from the said banks in order to purchase a series of high-end properties. Among others, Rafizi confirmed that purchases made include the nearly RM10 million condominium unit at the luxurious KL Eco City development. The eight units, he said, have a current estimated market value for KL Eco City development in Bangsar. Minister Datuk Seri Nazri Aziz.
