PETALING JAYA: The National Feedlot Corporation (NFC) still owes the government over RM250mil, says Finance Minister Lim Guan Eng. This loan is secured by a debenture which was signed alongside the loan agreement on Dec 6, 2007. The NFC was set up in 2007 with its subsidiary National Feedlot Centre to expand the local beef industry, aimed at reducing dependency on imported beef. However, the project became embroiled in controversy for being poorly managed as noted in the Auditor-General's Report 2011. Last month, Agriculture and Agro based Industry Minister Datuk Salahuddin Ayub revealed that a company has indicated interest in taking over NFC.

Source: The Star May 20, 2019 04:07 UTC