NFC still owes govt RM284m

 |Mar 9, 2018

KUALA LUMPUR: The National Feedlot Corporation (NFC) still owes RM284 million to the government as of Jan 31 this year.

According to New Straits Times, the Finance Ministry said the company had paid a sum of RM34.98 million in 2012 and 2013.

“The sum seized from NFC and related companies which is under the possession of the Accountant General’s Department of Malaysia is RM46,934,703.17 million.

“A writ of possession was issued by the Tampin magistrate’s court on Feb 22 last year to instruct NFC to vacate its premises starting on March 1st 2017,” it said in reply to Sim Tze Tzin (PKR-Bayan Baru) at the Dewan Rakyat.

Sim had asked the ministry how much the NFC had paid the government as of Dec 2017 and whether the government had confiscated NFC’s assets.

The report did not state how and whether the ministry has proceeded to reclaim the amount still in arrears since the last payment in 2013, five years ago. In Malaysia, a lender must proceed to recover a loan within six years.

If not claimed within six years, it is likely any legal action to do so will be time barred.