As shocking as the revelation about the RM10 million “cattle for condominium” scandal is the self-righteous statement by the Minister for Agriculture and Agro-based Industries Datuk Noh Omar aiding and abetting a gross misappropriation of public funds.
Claiming that the National Feedlot Corporation (NFC) had not used government funds for the purchase of the RM9.8 million Bangsar luxury condominium, Noh said that once NFC received money from the government, it was thereafter considered the company’s private funds and the government had no say as to how it would be used.
Noh said the government had loaned NFC RM250 million made into a special loan account (SLA) in Maybank that was controlled by the Finance Ministry.
Noh said RM181 million from that account had been disbursed to NFC based on the latter’s claims.
The government only had control of funds that were in the SLA, but had none over how the company spends the money once it has been disbursed, said the minister.
“If the money has been paid to NFC after fulfilling set conditions, the government cannot control what NFC does with it, including purchasing the said condominium, because it is then considered the company’s money.
“Claims made by NFC are related to farm management only, and has absolutely nothing to do with the purchase of condominiums.”
Clearly, something is very wrong about the “set conditions” imposed by the technical committee chaired by the Veterinary Department and the Finance Ministry for the release of the loans to promote cattle production that it could result in “excess funds” leading to the purchase of the Bangsar luxury condomium – nothing to do whatsoever with cattle farm production and management.
Instead of expressing surprise and shock at the misappropriation of the loans for cattle production to purchase a luxury condominium, the Agriculture Minister has instead come out to defend the RM10 million “condominium for cattle” scandal!
There is no word of censure, disapproval or dismay at such blatant misappropriation of public funds by the NFC especially as it involved the family of a Cabinet Minister, which is particularly galling to ordinary Malaysians who are trying to make ends meet.
Is this in fact an reflection that such misuse of public funds, where mega loans are given to companies whether run by family members of Cabinet Ministers or cronies, are often misused for another purpose from the those originally approved, is very commonplace under the present administration?
Let the Prime Minister, Datuk Seri Najib Razak, the Deputy Prime Minister Tan Sri Muhyiddin Yassin and all Cabinet Ministers declare their stand whether they fully agree with Noh Omar that there is nothing wrong or amiss in such misappropriation of public funds such as in the “condominium for cattle” scandal – as it is a common occurrence under the Barisan Nasional government?
In fact, Najib should intervene in the RM10 million “condominium for cattle” scandal by recalling the RM181 million loan to NFC which are not used for the purpose of cattle production if the Prime Minister is serious about all the talk of a national transformation policy with the slogan of “People First, Performance Now”.
Earlier this year, there was a hue and cry from BN when they disclosed that some PR assemblymen in Penang had purchased RM500,000 houses in Balik Pulau. They demanded macc to investigate the assemblymen.
Now that mamak lady’s RM10,000,000 condo = 20 such RM500,000 houses. Why is BN and macc so quiet?
Lets look at Noh Omar’s argument- that Govt loaned NFC RM250 million disbursed from Finance Ministry’s special loan account (SLA) in Maybank and that once NFC received money from the government, it was thereafter considered the company’s private funds and the government had no say as to how it would be used. This does not make sense because govt’s soft loan is not for NFC’s private purpose of buying RM10 million condo or its controlling shareholder/director. This is because the National Feedlot Centre is not just a private company of private interests : it is a private-government partnership project and NFC is given govt support and soft loan to spearhead a national objective of developing an integrated and sustainable Malaysian beef industry in line with the government’s aim under 9th Malaysian plan of increasing beef production towards the national objective of self sufficiency.
This means that the govt soft loan should be solely utilised for this objective (and not purchase of condo) and its disbursement should be progressive against evidence of production targets met. If these conditions are not set – if Noh Omar’s words are taken to be true that the govt does not monitor and has no control once soft loan is disbursed – this simply means the govt is cavalier as regards how public funds are disbursed via soft loan and failed in its duty to exercise oversight and proper monitoring on how the monies are actually used by those charged with responsibility to execute the national project, and govt has been indifferent to their being used for a private purpose other than its intended public purpose of boosting beef production for national purpose of self sufficiency! This is moral hazard problem – a situation in which a party (govt officials) insulated from risk (because moneys are public and not their monies) have behaved differently from how they would behaved if they themselves and their own monies were fully exposed to the risk .
Public funds don’t change character and become “private funds” just because they are transferred and disbursed from Ministry of Finance’s special loan account (SLA) in Maybank to NFC’s account because the funds are intended for a public purpose and a private-government partnership project for national objective of beef sufficiency under 9th Malaysia Plan. What kind of argument is that?
And that ever cunning.corrupted old fox ask..”What do the Chinese want?”….starting his race politics again….thinking the Muslims will think like a Malay an UMNO b is the champion of the Malay race.
When Jeffery speaks..that self appointed Professor dare not talk.
He supports corruptions and call BN guys idiots for they don’t know how to steal without being caught.
Limkamput…..where are you????
This is one of the BIGGEST reasons why we want to vote in Pakatan Rakyat to form the next Federal Government – to clean up the filthy houses of BN crooks and put our nation on healthy path.
VOTE FOR CHANGE!
No wonder the country is far behind many others in SEA.If their stealing,cheating and daylight robbery is not checked,very soon the country will go bankrupt.Apparently the rakyat have now lost hope on BN,there is no alternative but CHANGE.
That mamak lady, following dr mamak’s lead, also gained entry into that elite umnoputra band of people. That means she too has loads of ketuanan constitutional rights because as umnoputra she belongs to that supreme race of the world. So our outcry here is nothing more than being anti-constitution, anti-agung, anti-sultan, anti-islaim jenis umno, anti-gobermen, anti-melayu (actually umnoputra), unpatriotic, ungrateful, communist, terrorist etc etc and hence we are ISA-able.
I have said many times here and elsewhere, this is not about loans being wrongly used, disbursement not properly monitored, or whether or not the borrower have bought a condo or a private jet. This is about moral hazard – a scheme systematically hatched to siphon money from the government coffer in a “legalised” way. How else could it be? The government gave soft loan to a private individual to do business. It does not matter that business is viable, feasible and able to pay back the loan. It was all with the tacit understanding that the loans are actually grants – without having to pay back. It is that simple, if Shahrizat’s family needs to pay back the loan, do you think they will take the loan to run a business that is destined to fail? If Shahrizat’s family need to pay back, do you think they would dare to convert a liquid asset into a fixed asset? There is no way the family can pay back now if the government decides to recall the loan. It is not just this NFC. The opposition should check out the tuna fish project in which bonds (with government guarantee, just like PKFZ) have been issued but the project was a total failure.
Najib to intervene ? With support from Muhyiddin, Noh Omar and KJ, peppered with some of the most moronic comments in Malaysian political history, we can infer that there is only one main beneficiary of this scam. The cows have bolted from the barn, so we should also infer that the “soft” loan has been disbursed. No thief leaves cash on the table, hoping to come back later for it.
another could be true scandal is that Faber Company contract that deal with Govt Hospital will not be renewed when it expired next Dec,it was only renewed it for another 6 months,if the BN win the next GE ( I truly hope not) the contract will goes to Najib son.Believe it or not?
Najib will never dare to offend anyone in UMNO b….concerning money and corruptions.
You expect him to practice…”People First. Performance Now”?
It is one of his many his hollow words…trying to fool Malaysians..fishing for votes.
MACC sucks!!
A case of idle funds sitting in your account which prudence requires that they be used for short term speculative investment??
Cow staying in condominium ….a clear sign that corruptions was there on the NFC project and all you need is to read comments from Min, of Agriculture….Khairy…and Shahrizat.
If what they said were Oppositions leaders…MACC will act lighting fast. There are facts ..figures and admissions. How easy to expose corruptions.
What Shahrizat said reminds me a little of what Samy Vellu said years ago…when he was investigated for corruptions.
Shahrizat said…her husband deserves the opportunity to make money.
Samy said….UMNO b
“crooks” touch him…he will expose all corruptions and bring all with him to jail.
Useless to talk about what Najib should do.
His reputation ..simply words cannot describe.
It seems his job is to advertise how good the Government under him is…so vote for continuity….that’s all.
So many manufacturers cannot sell directly to their dealers.They must go through Govt, “Agents”…making all products dearer to Malaysians where the poor feels the pinch..not the rich.
aiyoh…..sick of talking Najib or the govt.
Worst of all…their unbelievable defense on corrupted acts.
I am concern about voters supporting BN….how they think…act and why…when there is nothing to think about actually.
It is the millions of ordinary Government servants.
Why must so many feel they must vote for a corrupted government.
Since it comprises of vast majority Malays…can we say they love to be Malays and not Malaysians?
Such an unpatriotic out-dated way of thinking which pleases UMNO b most with their race and religion dirty politics.
Right now..the biggest corrupted hypocrite and racist…Mahathir asked……”What do the Chinese want?”
He might as well ask…”What do half Malay.half Indian…the mamaks want?”…..which he belongs.
To have a character like Mahathir….you must qualify to be the dirtiest politician.
It would appear that BN Parties have altready decided to take their shares in advance of the next election which, based on their behaviour and actions, will be a GONNA, so they are making hay while the sun shines! It is also obvious that the Mamak Clan has some kind of strangle hold on the majority of the rest of UMNO. If the loan is the share apportioned to the Wanita chief, then the explanation by Nor should be correct. Case closed. After all the Wanita chief can point to so many other projects where she has no interests and where she would have been told to step aside. To BN, the whole nation is theirs for the picking. They are only interested to preserve whatevar sector already allocated. Hence, they [the leaders] will brook no inteference from another leaders even if he is the PM or DPM! That is!
Intervene? Again Sdr. Lim is TOO KIND when it really matters. Najib either fire her, and no resignation, or he should just quit. Otherwise his ‘tranformation’ is bullshit..
Oh. Add Mohd Nor and KJ too while he is at it..
limkamput has rightly put it this is another scheme mirror that of PKFZ though it was a smaller scale. this a scheme that will benefit the crony. the shock excuse that there was excess fund therefore they use to buy a condominium. this has to been stopped. there is no point to form any investigation task force just put pressure on it and this have to stop.
Greece has fall, Italy is on the way… it our country the first in Asia. Think about it
Based on what KJ n NO said, all researchers who received big research grants fr d gomen can USE their grants $$ 2 BUY condos n condoms too; nothing wrong what
//The government had loaned NFC RM250 million made into a special loan account (SLA) in Maybank that was controlled by the Finance Ministry. Noh said RM181 million from that account had been disbursed to NFC based on the latter’s claims.//
The mamak fat gal is going to declare bankruptcy soon and her RM250 million loan need not be repaid…. Satu Lagi Project BN
For a mere RM2000+, Teoh Beng Hock was thrown out of the window of MACC. This would mean that this Mamak lady should be thrown out of the window in Plaza Masalam a million times!
First it was mother..then Mahathir..now Rosmah.
Who is Najib…a man with a baby brain.
I forgot…in between some Jews for RM71 million..how to talk..created slogans..plenty promotional photos…promoting…”People PM”
Test it at Rajang Park…”You help me. I help you.” with RM5 million bribes…got backfired.
According to the law…give away money is not corruptions.
No wonder Mahathir who stole RM100 billion can boast no evidence…not one sen in this bank account.
He spent millions..tax payers money traveling….OK.
Najib copying same style….but Rosmah love shopping…bought a RM24 million diamond ring….delivered…she signed for it..and now said returned back…no corruptions.
Just like Mahathir accepting 7 new Proton cars..all parked in his house for years…returned back and said..they were for his testing purposes…as if he knows so much about car engines…designs and safety features.
mof only hold 1 share in NFC, which suppose to so call golden share, the brain child of the retired 22-years PM. Wait a minute, so what this so call golden share. Remember the mof also HOLD 1 golden share in MAS. What happen to MAS. They use the planes to hijacked the tax payers money until now it still bleeding.
So the animal minister say the special loan account is control by MOF. This claim is no better then cow dung. In this case we not even have the cows to produce the cow dung as fertilizers. Habis ia hisap duit rakyat.
Vote for CHANGE. We want our money back!
Pakatan lawyers to start taking legal action on confirmed cases of stolen money, stashed away in foreign banks, to be returned to Malaysia when PR takes over.
Put these people behind bars.
Many UMNO leaders defend the use of money meant for developing cattle to allowing cattle to live in condo. If they defend the action just because it was done by one of them in the same gang, out of the spirit of brotherhood like how civil servants are behaving, then UMNO is a gang, just like a secret society. If they defend the action thinking that it was right for UMNO Wanita Chief to do what she did, then we can expect that they on their own have been doing the same thing, i.e misappropriate public funds. They should be in jail rather than sitting where they are.
Dulu PM Malaysia memperbodohkan Rakyat dengan syer keemasan atas MAS,
Kini pula taktiknya diguna sekali lagi atas projek Lembu.
Jutaan diguna bukan buat kandang lembu dikampong tapi Kon do di Bangsar.
Api tujuannya pada hal lembu hanya berkeliaran di padang rumput bukan nak tidur di kondo jutaan Bangsar.
Adoi, bodah Rakyat Malaysia, kondonya anak-anak menteri dah jadi peternak lembu. Dengar tuan-tuan dan puan-puan itu anak menteri bukanlah anak Mongolia. Lepas susah perloh di ladan mahunya tidur seronok di kondo jutaan Bagsar. Itu masudnya sebenar.
Siapa nak disalahkan habis bukan kamu semua berundi BN ke parliament?
Kawan-kawan sekelian. Cukuplah kita diperbodohkan oleh menteri binatang yang namanya noh umar itu. Insaflah kawan kawan ku jangan dengar siOxford itu. Kondo itu bukan untuk disewakan tapi untuk keluarga menteri pintu belakang
Under hudud, their hands n legs will b chopped off 1, then we hv a special family comprising father, mother n children with no hands, no legs lor, moo moo mooooo
Boy oh boy, this brazen and most blatant “STEALING” of public fund, as culled from A-G’s annual audit and yet MACC and Bkt.Aman Commercial Crimes Unit remain mum !
This is all happening under broad daylight with no finesse or sophistication the outright ‘curi’ but reported as mis-use, mis-management etc is all too much to stomach.
To the individual who went the extra mile to unravel the RM$10 million ringgit purchase of a condo, you have my outmost thank and gratitude from the public. Without your input, none would be the wiser.
As suggested, it is time to call in the loan and do a proper audit by an independent party – I’m certain the public would be more than happy to pass around the hat, do a collection and foot the bill for such an audit. And first on the agenda, we should demand a seize order of the property purchased with public fund, funneled through NFC – no way is it Sharizat’s or that of her thieving clan – and to all Uncle’s and Auntie’s at the Lake Club, don’t have to keep up with niceties with Dr.Salleh but straight off ask him why he sullen his reputation with such unsavoury squander of public fund, all in breach of public trust.
Bad enough suggestions of impropriety – conflicting interest to manage funds amouting to RM250m – now proven monumental failure, projek tergendala having not meet projected figures.
How difficult is it to “feed” cattle that comes into the lot ? That in a nutshell is the business of a “feedlot” – providing the necessary grain and fooder to bring animal up to marketable weight !!!
berita terkini kononnya MACC enggan ambil tindakan atas konplaint issue KONDO jutaan Bangsar sebab itu hal POLIS dan bukan rasuah.
kepala otak yang sebagai lembu betul. Apakah hanya 2 ribu mereka sanggup interogate TBH sampai ia mati. ini pula hal 10 juta ia kata ini bukan masaalah rasuah.
apa lagi yang nak kita harapkan putusalah asal BN kini betul betul kena disingkirkan pada GE yang akan datang.
Noh insisted dat once d authorities released d $$$ 2 d project operator, it was up 2 d operator 2 do what they wished with d funds
O la la, so nice 1: “up 2 d operator 2 do what they wished with d funds”
NOTHING WRONG what, insisted Noh n KJ n band of thieves
Dis summarises d corrupt jiak jiak jiak mentality of UmnoB/BN kaki2
Why U talk…worst than me…like with code words..like DeVinci Code…boh-liao.
You really become boh liao???…sad …very sad.
Tahan sikit lama…sure become liao le or money liao liao into your pocket…lady luck come back..so rich….good job…at last.
Don’t give up!
One or two persons seem to think that it is “stylish” to use rebus in their posts here.
Any most jurisdiction even in our regional neighbours, the case is enough for total seizure of assets, corporate and personel, and the participants charge with Fraud and sent to jail..
You would be fruitless to call Najib to intervene. Instead, call people of Malaysians to vote them out of Parliments.
Calling them to do this and that is fruitless and they are all in one gang, all are gangsters robbing Malaysian money. Just look at Taib possessing huge property in overseas (see http://www.sarawakreprot.org). Even Anti Corruption Agency is useless. Look at Teoh Beng Hock? Still no action on ACA staffs to force Beng Hock to jump to suicide?
Look at the Mongolian mother blown up by C4? Even the High Court had never mentioned about Najib (who was defence minister). High Court also has never questioned the motives of the special Polis who being the scrificial lamb for Najib. See http://www.suaram.net
Calling them (BN) to intervene is a useless word. Calling people of Malaysians would be the right way to vote them out from Putrajaya.
MCA and Gerakan have no self dignity (Malay: maruah). They only want money to part of BN. The reason to say this:
1. Every year, MCA has to appear for scholarship. Appealing means non bumi are 2nd citizen.
2. Look at the quota policy almost every sector that causes e.g. local universities to be at poor quality.
3. Look at the corruption and bribe involved in UMNO. MCA and Gerakan and MIC only support their corrupted UMNOputras coalition because they want money which is easy to get by joining with UMNO.
Everyone in urban areas knows this. So urban people now vote BN out like the one happened in Sarawak.
Mahathir is only good at talking. He even could not cause RM to raise to be same value Brunei and Singapore dollar. This has caused Malaysians to be poorer than Singapore and Brunei.
They bought condo because they want to put refrigerators in that condo to store sperm of bull lah.
Corruption causes people of a country to be poor: report from Tarnsparency International
http://www.transparency.org/news_room/faq/corruption_faq
5th most wealthy country in the world:
5. Singapore $284,692 per adult.
The tiny island nation of Singapore has the busiest port in the world and is the fourth largest foreign exchange trading center in the world. Singapore is a world leader in several economic areas including finance, casinos, oil refining and foreign trading. Singapore attracts business because its economy is known as one of the freest, most innovative, most competitive, most business friendly and LEAST corrupt in the world.
Full report from Credit Suisse:
https://www.credit-suisse.com/news/en/media_release.jsp?ns=41874