The National Feedlot Corporation (NFC) has today given two powerful reasons why there should be a Royal Commission of Inquiry into the RM300 million “cattle condo” scandal, focussing on the role and responsibility of Deputy Prime Minister, Tan Sri Muhyiddin Yassin who was the Agriculture Minister who approved the RM250 million loan project before the “308” political tsunami.

The company declared today that its contract for its RM250 million loan from the government was signed in 2007, disputing the Public Accounts Committee’s (PAC) earlier claim that the company had received the sum before the contract was signed.

NFC said the loan agreement between the government represented by the Ministry of Finance and NFC was signed on December 6, 2007, and not in 2010 and that the first drawdown of RM7 million was in January 2008 “in compliance with proper procedure”.

It claimed that beginning this year, NFC “will start serving its loan repayment as stipulated in its loan agreement”.
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