A new company that is vying to operate the meat producing project formerly known as National Feedlot Corporation (NFC) has pledged to pay off all of NFC's outstanding debts to the government.
Finance Minister II Husni Hanadzlah said that the company, Kirimitonas Agro Sdn Bhd, had signed a letter of intent to that effect back in April, which will expire in October this year.
He however admitted not knowing how the company plans to recoup the money used to pay off NFC's debts, saying that more negotiations need to take place before their intent is clear.
Finance Minister II Husni Hanadzlah said that the company, Kirimitonas Agro Sdn Bhd, had signed a letter of intent to that effect back in April, which will expire in October this year.
He however admitted not knowing how the company plans to recoup the money used to pay off NFC's debts, saying that more negotiations need to take place before their intent is clear.
“We are doing our evaluation. If the negotiations are successful, they have given a commitment to pay off all the debts,” he said.
“We need to negotiate more, and then the terms of negotiations will become clearer,” Husni (left) said while wrapping up the Royal Address debate for the Finance Ministry today.
He was answering a question from Rafizi Ramli (PKR-Pandan) as to how the government plans to recoup the RM250 million soft loan that it had provided for NFC now that the company has ceased operations.
However, Husni said did not state explicitly what the government plans to do in order to recoup some RM86 million that NFC still owes the authorities.
“About RM79 million has been seized and another for RM86 million, we are still waiting. The process will take time. We cannot do everything in the blink of an eye,” Husni said.
“We need to negotiate more, and then the terms of negotiations will become clearer,” Husni (left) said while wrapping up the Royal Address debate for the Finance Ministry today.He was answering a question from Rafizi Ramli (PKR-Pandan) as to how the government plans to recoup the RM250 million soft loan that it had provided for NFC now that the company has ceased operations.
However, Husni said did not state explicitly what the government plans to do in order to recoup some RM86 million that NFC still owes the authorities.
“About RM79 million has been seized and another for RM86 million, we are still waiting. The process will take time. We cannot do everything in the blink of an eye,” Husni said.
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