DAP has called upon the Police and MACC to immediately freeze all assets of the National Feedlot Corporation Sdn Bhd (NFC) as well as those of its directors, to ensure that public funds involved are safeguarded.

NONE "Following the confirmation (of pending CBT charges) by the police and to prevent the transfer of assets illegally obtained via the alleged criminal breach of trust, we call upon the police to freeze any transfer or sale of assets owned by both the NFC and its directors," said the party's national publicity secretary Tony Pua ( left ).

He said that despite the January 14 freeze on NFC’s assets announced by Prime Minister Najib Abdul Razak, assets acquired directly or indirectly with NFC funds remain in the hands of individual directors, namely properties in Malaysia and Singapore, as well as companies in Singapore such as MeatWorks (Singapore) Pte Ltd.

"To ensure that these assets are not disposed off at the expense of the tax-payers who fund the RM250 million soft-loan, the Police must now initiate actions to have these properties and assets frozen since they are recommending that the directors be charged for CBT," urged Pua.

The failure of the police to do so, he warned, will make the force liable for jeopardising public interests, if the funds or properties are disposed off before decisive action.

"The police must take all necessary actions to ensure that the public funds would be recoverable in the event of a charge and conviction," said Pua in a statement today.

Police recommends charge

Despite the Police announcing as early as last December that they had found no evidence of criminal breach of trust (CBT) by the NFC directors, they have after a four month investigation finally recommended to the attorney-general yesterday that the directors be charged.

NONE Yesterday Pua also made public copies he claimed were from the NFC loan agreement , alleging that NFC had breached the terms of the loan agreement by utilising funds for purposes other than that approved.  

"It has already been widely proven and admitted that the directors of NFC had used monies from the loan to acquire properties in Kuala Lumpur and Singapore," said the Petaling Jaya Utara MP.

The NFC courted controversy after the opposition started leaking details of allegedly misuse of its RM250 million government soft loan, resulting in massive public outcry against the company owned by the family of federal minister Shahrizat Abdul Jalil.

While Shahrizat and family have denied wrongdoings, NFC has come under MACC’s anti-graft probe and police commercial crime investigation.

35-page NFC loan agreement