We refer to the news coverage that the Opposition's Rafizi Ramli had spoken to reporters on possible money-laundering by National Feedlot Corporation (NFCorp) for conducting cash transfers between companies controlled by NFCorp directors to purchase livestock cattle.
Rafizi told reporters "Under the Anti-Money Laundering Act (AMLA), Bank Negara Malaysia has to investigate when it has grounds to believe that the source of funds is suspect, that the objective of (funds) transfer is suspect."
As always, Rafizi has never presented the full and accurate picture of NFCorp, and at best offers lies, insinuations, fabrications, distortions and misrepresentations.
Please allow us to clarify.
NFCorp was established with the objective of meeting the Malaysian Government's National Meat Policy (Ruminant Sector) 2006.
NFCorp's core business is to build a centre of production for beef and beef products for the country, and has been leasing 1,500 acres in the National Feedlot Centre (NFC) for cattle rearing, livestock supplies, feed production and management, fertiliser production and other related activities.
Its core activities also include the sales and marketing of its beef products aimed at making the country self sufficient in beef production as well as encouraging a demand for Malaysian halal beef.
In meeting the objectives of its core business and to ensure efficiencies, NFCorp established a group of companies to specialise in their respective fields. A graphic map of the group's activities is provided here for your easy reference.
In acquiring the cattle livestock from Australia, NFCorp had established Global Biofuture Pte Ltd to undertake the specialization in import logistics, purchase of livestock cattle, and delivery to NFCorp.
The funds for the purchase of livestock cattle were from a government loan borrowed from the Ministry of Finance in which a loan agreement was signed on 6 December 2007. The funds from the government are clean, and not illegal or illicit in nature.
Rafizi Ramli has always been on an unwarranted attack on NFCorp, a company only in its second year of operations in a 30-year contract with the government.
He lied on the Auditor General's 2010 report, the KL Eco City bank loans, the 5,000 acres of land in Gemas, the number of cattle in NFC Gemas and many others.
Rafizi Ramli continues to offer distortions and misrepresentations through insinuations, fabrications and lies. He is not to be believed.
Ghazalie Abdullah is chief communications consultant for and on behalf of National Feedlot Corporation Sdn Bhd.