NFC Fiasco

Fiasco is the right word that I’d use too. It’s what this National Feedlot Corporation mess has turned into. I often wonder why it is that our government does not take the bull by its horns. It had an opportunity to do the right thing, but now it’s past. Now, they are left to clean up the mess.

According to the TMI article, “Former senior police officer Datuk Mat Zain Ibrahim asserted today that the National Feedlot Corporation’s (NFCorp) controversial condominium purchases are clear examples of CBT (criminal breach of trust), adding the Attorney-General should have no doubt of this when deciding whether to press charges.”

“After having sighted the NFC (National Feedlot Centre) loan agreement that was made available yesterday, coupled with the public statement by the Commercial Crimes Investigations Director (CCID), I would say that the Attorney General’s Chambers should not have any doubts in their mind now, that these are clear cut case of CBTs by agent as defined under Section 409 (of the) Penal Code.”

“In an in intriguing twist to the ongoing NFC saga, CCID Director Datuk Syed Ismail Syed Azizan confirmed yesterday that the police would recommend CBT charges against all NFCorp directors to the Attorney-General’s Chambers.”

“Shahrizat’s son Wan Shahinur Izmir had explained that the company had decided that it would make better use of the money by investing in property during a break in business operations. The break, said Wan Shahinur Izmir, was caused by the government’s decision to suspend the construction of an abattoir that would have been rented to NFCorp.”

Honestly.

The first rule when you’re in this kind of hole is to stop digging. His mother should have taught him not to speak without counsel. The last thing that one should do is to go around admitting to the act and trying to justify their way out of it.

Her son has basically admitted to committing the act. Whether that act is a CBT is a question for the lawyers. It would seem that if both current and former police officers think that it is CBT, there might actually be something there.

The government needs to nip this while they still can before this turns into an bigger issue. Otherwise, they are definitely going to suffer. People are already fed up with multi-billion RM scandals, this one might just tip the balance.

PS: I feel sorry for Sharizat because I think that her chance for a come-back is totally dashed. She will have to sit out the next GE lest she serves as a constant reminder to the fiasco.

Published by

Shawn Tan

Chip Doctor, Chartered Engineer, Entrepreneur, Law Graduate.

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