The announcement by the National Feedlot Corporation (NFCorp) executive director Wan Shahinur Izmir Salleh that It’s “business as usual” and NFCorp operations are uninterrupted despite the Prime Minister Datuk Seri Najib Razak’s announcement two days ago of the temporary freeze of the National Feedlot Centre assets offends the most elementary sense of right and wrong of decent Malaysians.
It raises the critical question nagging thinking Malaysians whether the “temporary freeze” of NFC assets was nothing but a charade and a conjuror’s sleight-of-hand to appease an increasingly outraged Malaysian population – including more and more disillusioned Umno and Barisan Nasional members – but with little real meaning for the operations of NFC as appears to have been confirmed by Izmir.
When were the assets of NFC frozen? Who froze the NFC assets and who have the authority and what are the circumstances to unfreeze the NFC assets?
Most important of all, how much of the NFC assets have actually been frozen as Malaysians would not be surprised if NFC has been reduced to an empty shell with the many dubious corporate manipulations and hanky-lanky misusing NFC funds completely unrelated to the original objective to promote a high-impact project to ensure a higher level of beef self-sufficiency as have been publicly exposed in the past three months.
Can Najib specifically answer the many questions about the “temporary freeze” of NFC assets – the who, when, where, how and what assets have been frozen and what value?
When Izmir announced that it’s “business as usual” despite the “temporary freeze” of NFC assets, what hit Malaysians in the face is the realization that the gross abuse of public funds is continuing without any let-up, as in the extravagance with which the Shahrizat family members are paying themselves in the NFC project.
Shahrizat’s husband Dr. Mohammad Salleh Ismail as NFCorp Chairman draws $100,000 salary monthly, 31-year-old son Izmir draws RM45,000 monthly as executive director, another son Wan Shahinur Izran aged 27 draws RM35,000 a month as CEO while 25 year-old daughter Wan Izzanah Fatimah draws RM35,000 as the other director – a handsome total sum of RM215,000 monthly as salaries for Shahrizat’s husband and three children all to be traced to the largesse from the cabinet in approving and resulting in the RM300.000 “cattle condo” scandal.
Ordinary Malaysians are outraged that after more than six months after the revelations and strictures by the Auditor-general about the NFC “mess”, nothing has been done whether by the cabinet or NFC to put things right. What is worse, there is a complete absence of remorse or admission of grave wrong and injustices in the gross misuse of NFC funds.
What is the meaning and purpose of the “temporary freeze” of NFC assets six months after the Auditor-General 2010 Report had first been submitted to the Cabinet and government when there has been no “hair-cut” on the Shahrizat family in the NFCorp to curb their extravagant salaries and lifestyles?
The least Malaysians expect in any meaningful “temporary freeze” of NFC assets would be two-thirds cut in the monthly salaries of the NFCorp chairman, executive director, CEO and the other director from their total monthly salaries of RM215,000 to some RM71,000!
Will this be discussed in the cabinet tomorrow? Which Minister would dare to broach this subject in Cabinet tomorrow?
We are led to believe that the assets were frozen in December, yet in the final few days of 2011, the Chairman managed to remit RM 1.7 million to Shamsubahrin for certain “services”. What did the government freeze ? Obviously the Meatworks empire continues to operate under a 20 pct discount formula with NFC.
http://www.themalaysianinsider.com/malaysia/article/mca-believes-can-oust-guan-eng-from-bagan/
The best Chinese New Year joke from mca … maybe Chua SL is going to let Angela Yam contest in Bagan
You want their salaries frozen ? Aiya, that would mean that it’s tough for them to live the lifestyle they are accustomed to living….jetsetting, luxurious condos, etc. Oh, I forgot, those were actually paid by the National Feed-a-Lot Corp, and not by the individual members of management.
You mean the RM 300,000,000 cattle-condo scandal.
That inexperienced people can earn such atrocious salaries makes the people want to puke. We want complete transparency and accountability and restitution of ill-gotten gains. And punishment for those involved in this big-time scam.
Let us not leave out the many other wonderful deals like FELDA and timber concessions that need to be investigated as well.
Judging by the millions of people clamouring for the RM500 Bantuan Rakyat, it looks like the aim of the country to have a high-income population will be a joke after all
Ai-say man, I like 2 offer myself as Deputy ED of dis bull or cow sh!t company 4 a monthly salary of RM30K (will do lah) + whatever perks
Shahrizat hubby ….the CEO of NFC said….. all business are normal.
All workers are guaranteed….no sacking.
All customers guaranteed…beef meat will be delivered.
Sure he can.
It’s bank accounts and properties freezed….not cows ….trucks and freezers filled with meat.
If kampong folks hear him talk….it is like telling all….he is innocent with that comment.
It’s the same style…..by guilty ones.
Wife crack jokes and roll up sleeves…ready to battle.
All exposed..no answers……took 3 weeks leave…beginning to an end of story …where the end all Malaysians are watching MACC.
Husband…talked and act…to say…all are well..go to hell with the investigation…and smart Malaysians exposing him.
Enquring into NFC’s assets (who frozed where and how much frozen) and who gets what salaries from NFC is fine but it is only one aspect. The more fundamental other aspect to be enquired is what are the terms of the government soft loan of RM250 million in 2008 to NFC (which pays for these assets and salaries) – because it is only from these terms that the public could evaluate whether the loan was properly given and whether there’s proper mechanism for disbursement against utilisation and monitoring procedures and of course by whose authority the loan was given if it were improperly given.
Why wasn’t Teoh BH told to take 3 weeks leave while the macc investigates the RM2,000 he purportedly took?
If I can get a RM 250 Million (or is it 300 Million) loan at 2% interest (repayment optional) then I can put it in FD at about 3.2 % interest. With the earnings I can pay myself RM 100K a month as CEO. Anyone can help arrange such a loan? I can offer a “coordination and facilitation fee”.
Investigate Agriculture Ministry too, says Singapore daily
http://www.themalaysianinsider.com/malaysia/article/investigate-agriculture-ministry-too-says-singapore-daily/
In Singapore, when a financially troubled company is placed under Judicial Management in order to protect shareholders’ and creditors interest’, a Judicial Manager is appointed under a court order. The Judicial Manager (JM) is usually appointed from one of the major accounting firms. As opposed to liquidators, JMs try to find a way to salvage the company and keep it as a going concern to maximise its value. This is similar to the NFC situation here as determined by the Govt when they “freeze” NFC.
The difference however, is the JM has complete authority over the entire business of the company. The JM has the right to do as they see fit including suspending or dismissing the management if they find justifiable cause. Likewise, the Govt should have appointed an independent accounting firm to take over the management of the company to protect the assets and the proceeds due to the company as they conduct “business as usual” as declared by one of the directors. Otherwise, it defeats the purpose of the freeze because it is like closing the front door while leaving the back door wide open. Under such circumstances, the management that brought NFC into such as mess, as described by the AG, should be immediately removed before they do more harm.
Local msm given a lesson by Sg’s Business Times on critical reporting n analysis, pai say
It is so obvious that the money has been ALLOCATED to the Wanita Chief for her to use as she desires. The NFC is just a mere device. What qualification and experiencce has the children to earn such income? It is a private entity with the name National just to bluff the poor kampong folks. BN is a gonna in the urban and semi-urban areas. PR should print enough such issues in Bahasa to inform those staying in the rural area on all these abuses and wantonness. All the investigations by the Police, MACC and AG will only waste more money. The dice has been cast, all will get their share one way or another. Even MCA representing themselves as the Chinese Community refuse to address such issues knowing very well, they are bluffing themselves all this while and Liow and Ng wanted to wrestle Penang from PR! If onlt CSL walks the local kopitiam across the nation to learn the truth!
‘Assets frozen’????
Assets belong to the lender/bank…..realise the assets of this ‘ business’ to cut losses of taxpayers money.
U know, at the entrance there is a WOODEN ARCH bearing Pusat Fidlot (what rubbish BM word is dis) Nasional
Can be USED 2 HANG THEM HIGH, them = COW thieves stealing or hustling not cattle but ALL OUR $$$
It was not possible for Company to use credit cards to pay for business expenses, but it is definitely unusual to use the cards to spend large sum of money. We all know that expenses that normally pay by credit cards are entertainment such as foods and beverages and travelling. It is unusual to use credit cards pay the contractors or capital expenditure such as plant and machinery.
It can safely conclude that the expenses that was paid by credit cards are mainly foods, beverages and travelling. It may also for goods that can be bought from retail out lets. Again these expenses can equally being private in nature. So in this circumstances it is safe to assume that high proportion of the expenses that was paid by credit cards are private in nature. It is the best way to abuse. It is not common to incur such a high expenses using credit cards and claim them as business expenses.
That WOODEN ARCH would not be able to bear the weight of our fat mamak cowgirl. It will break and than more money will be used by her to repair that arch
CREDIT CARDs can b used 2 pay 4 Hermès Birkin handbags n huge diamond rings leh
4 spa, massage, mani n pedicure, fine dining n champagne, n casino chips too
WOW! RM215,000 monthly for Shahrizat’s family to take NFC for a ride.
Oi! BN! Quite a bargain-lah. Now Shahrizat will bring down BN good and proper.
Hello, Shahrizat, for that you have achieved yr KPI for the year and deserve another RM215,00 bonus.
I have never seen any huge company using credit cards..to buy and pay things.
They are always by cheques….much cheaper and for proper accounting work.
They steal and spent like hell…got caught and now start talking nonsense.
When will Najib ever step out ..take drastic actions…and and show his sincerity to stamp out corruptions?
Must say d FAMILY VERY SMART n know how 2 SQUEEZE every benefit out of payment
Paid huge sums with CREDIT CARD 2 collect points n rewards – hu wah, killing 2 cows with 1 stone, soooo smart 1 man those thieves
Bad, ugly, FAT, OBESE dead weights – NO PROBLEMO, just ask Clint East wood, he will use a WOODEN ARCH 2 HANG ‘EM HIGH