Thursday, October 24, 2013

Press statement by YB Zuraida on NFCorp’s failed takeover by Japanese company

Press statement by YB Zuraida on NFCorp’s failed takeover by Japanese company

Prime Minister Najib Razak should just liquidate the National Feedlot Corporation and recover the RM250 million soft loan that was given to the agricultural company run by Sharizat’s family. That is the only way to hold Sharizat’s family accountable for the mismanagement of funds. The board of directors which includes Sharizat’s husband and children inappropriately spent the people’s money on luxury items unrelated to the agricultural business like purchasing high-end condominiums and prestigious cars.

It is simply illogical that any company would want to inject RM20 million into a debt-ridden company that operates at a loss with no foreseeable opportunity for a turnaround. For Kirimitomas Agro to even consider a deal like that, we can only imagine what negotiations went on behind closed doors. Regardless, it is still not a worthwhile deal.

Kirimitomas Agro would be better off just starting with a clean slate with no encumbrances. In fact, there are qualified local companies that are equally suitable to provide similar services to the public. Malaysia is an agricultural-based country and the government should have no problems at all identifying experienced companies with good track records. This is in contrast to the NFC, a company that does not even have a track record to begin with.

Since the NFC expose, ‘Condo Lembu’ has become a household name.  The severity of the matter goes to show that our country sorely needs transparency and good governance. The ‘gravy train’ has been practiced for far too long and people should be made aware that this habit is selfish and deprives our children of a good future. It is morally wrong and it is ethically wrong. As they say, monkey see, monkey do, and we need leaders who can show a good example. If the big boss ‘makan’, the small ones ‘makan’ too. We do not want this culture to be cultivated any further. Instead, we should focus on transparency, good governance and efficiency.

Kirimitomas Agro Sdn. Bhd. (KASB) is a joint venture between Otoshitos Sdn. Bhd and Hannan Food Group. Prime Minister Najib Razak announced KASB as willing parties to take over the scandal and debt-ridden National Feedlot Corporation in April this year but replied in parliament yesterday that the deal has fallen through.

YB Zuraida Kamaruddin
Ahli Parliament Ampang
24/10/13


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