There is no need for the federal government to issue a white paper on the National Feedlot Corporation (NFC) scandal, says Deputy Agriculture and Agro-based Industries Minister Chua Tee Yong.

NONE Prosecuting those involved was better than producing a white paper, Chua ( right ) told a press conference at the MCA headquarters today.

“We have taken the issue to court, which is better than issuing a white paper because the court will rectify the things,” he said.

Chua refused to comment further on the matter because it may be considered sub-judice.

Chua had been relentlessly hounding the Selangor government for a white paper on the Talam Corp Bhd debt restructuring exercise.

After Selangor finally produced the document last week, Pakatan Rakyat threw a challenge to the federal government to provide a similar document on the NFC fiasco.

Pakatan also called for the document to be tabled in Parliament and distributed to the public.

Chua called the white paper a “grey paper” for failing to answer crucial questions regarding the paying off of Talam debt exercise and the use of private valuers in the land valuation.

“No rakyat’s money used is a big lie. The cost is not RM420,000,” he said regarding the amount spent on the exercise, insisting that it is a bailout.

He claimed that the white paper does not address how RM266 million was raised to pay off Talam bankers, for which Permodalan Negeri Selangor Berhad (PNSB) had taken a RM230 million loan with interest amounting to RM86 million.

Chua also questioned Selangor for engaging private valuers instead of accepting the Valuation and Property Services Department’s (JPPH) valuation on Talam’s assets.