Contrary to National Feedlot Corporation
(NFC)'s directors’ assertion that companies owned by them are NFC
subsidiaries, they have been discovered transferring shares of one of
these companies to their personal names.
Petaling
Jaya Utara MP Tony Pua today claimed that shares of a
Singapore-registered company, Meatworks (Singapore) Pte Ltd, have been
distributed to the individual directors of NFC, who are also family
members of Women, Family and Community Development Minister Shahrizat
Abdul Jalil.
Real Food Company Sdn Bhd (RFC), a company owned by the NFC directors, was the sole shareholder of Meatworks before the shares transfer.
Documents obtained by Pua from Singapore's Accounting and Corporate Regulatory Authority (ACRA) shows that on Jul 20, 2011, RFC's shares in Meatworks were transferred to four directors.
They
are Shahrizat's husband Mohamah Salleh Ismail and her three children
Wan Shahinur Izmir, Wan Shahinur Izran and Wan Izzana Fatimah Zabedah -
each receiving 90,000 shares.
RFC was left with only 90,000 shares in Meatworks.
Earlier on, it had been alleged that funds from NFC’s RM250 million government soft loan had been transferred to private companies - that are not NFC subsidiaries - owned by the NFC directors.
RFC is one such company.
Subsidiaries claim contradicted
Earlier Salleh had argued that although the companies were not financially structured as NFC subsidiaries, they were indeed "always meant to be subsidiaries of NFC"
He
said it had always been their intention to "rationalise the structure
of NFC to bring in all associated companies and assets within the hold
of NFC".
Pua (left) however said that the transfer of shares to individual family members of Shahrizat indicates otherwise.
"Had that been the original intent (to bring all associated companies under NFC), what is the purpose of transferring the shares of Meatworks, which is invested presumably with money from the RM250 million government loan, to the respective individuals?" he asked.
The transfer of S$360,000 (RM865,000) shares from Meatworks to the four directors, Pua claimed, is another clear case of criminal breach of trust.
"We
called upon the NFC directors to explain the above suspicious
transaction, failing which we call upon the police and Malaysian
Anti-Corruption Commission (MACC) to expand its investigations to cover
the actions of all the Singapore companies owned by the directors," he
added.
In his previous allegation, Pua believed the funds used by NFC directors to set up businesses in both Malaysia and Singapore under their personal names, came from the RM250 million government soft loan given specifically to develop the National Feedlot Centre project.
Some of the companies, Pua alleged, had not submitted any audited accounts since 2007 and appear to be dormant.
Petaling
Jaya Utara MP Tony Pua today claimed that shares of a
Singapore-registered company, Meatworks (Singapore) Pte Ltd, have been
distributed to the individual directors of NFC, who are also family
members of Women, Family and Community Development Minister Shahrizat
Abdul Jalil.Real Food Company Sdn Bhd (RFC), a company owned by the NFC directors, was the sole shareholder of Meatworks before the shares transfer.
Documents obtained by Pua from Singapore's Accounting and Corporate Regulatory Authority (ACRA) shows that on Jul 20, 2011, RFC's shares in Meatworks were transferred to four directors.
They
are Shahrizat's husband Mohamah Salleh Ismail and her three children
Wan Shahinur Izmir, Wan Shahinur Izran and Wan Izzana Fatimah Zabedah -
each receiving 90,000 shares.RFC was left with only 90,000 shares in Meatworks.
Earlier on, it had been alleged that funds from NFC’s RM250 million government soft loan had been transferred to private companies - that are not NFC subsidiaries - owned by the NFC directors.
RFC is one such company.
Subsidiaries claim contradicted
Earlier Salleh had argued that although the companies were not financially structured as NFC subsidiaries, they were indeed "always meant to be subsidiaries of NFC"
He
said it had always been their intention to "rationalise the structure
of NFC to bring in all associated companies and assets within the hold
of NFC".Pua (left) however said that the transfer of shares to individual family members of Shahrizat indicates otherwise.
"Had that been the original intent (to bring all associated companies under NFC), what is the purpose of transferring the shares of Meatworks, which is invested presumably with money from the RM250 million government loan, to the respective individuals?" he asked.
The transfer of S$360,000 (RM865,000) shares from Meatworks to the four directors, Pua claimed, is another clear case of criminal breach of trust.
"We
called upon the NFC directors to explain the above suspicious
transaction, failing which we call upon the police and Malaysian
Anti-Corruption Commission (MACC) to expand its investigations to cover
the actions of all the Singapore companies owned by the directors," he
added.In his previous allegation, Pua believed the funds used by NFC directors to set up businesses in both Malaysia and Singapore under their personal names, came from the RM250 million government soft loan given specifically to develop the National Feedlot Centre project.
Some of the companies, Pua alleged, had not submitted any audited accounts since 2007 and appear to be dormant.
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