Malaysiakini News

Bank manager agrees NFC's fixed deposit a factor for recommending loan

Hafiz Yatim  |  Published:  |  Modified:

A business manager of Public Bank Bhd testified at the High Court in Kuala Lumpur today that the fixed deposit of RM71.3 million, deposited by National Feedlot Corporation Sdn Bhd (NFC)- affiliated companies, was a factor for the bank to recommend a loan for the purchase of eight units of condominiums at KL Eco-City project.

Chai Ma Fatt, 49, when cross-examined by PKR vice-president Rafizi Ramli's lawyer Razlan Hadri Zulkifli, admitted that the fixed deposit by NFC companies was one of the biggest ever received by its Hang Lekiu branch at that time between 2011 and 2012.

He said that his branch merely recommended the loan and that the decision for approval was given by the headquarters.

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