Media statement by Lim Guan Eng in Kuala Lumpur on Wednesday, 15^th February 2012: 

Why have the MACC and police not taken any action against the RM250 million NFC cows and condos scandal? 

The RM250 million NFC Cows For Condos scandal reached a new sensational level with Minister in Prime Minister's Department and de facto Law Minister Datuk Seri Nazri Aziz said that the National Feedlot Corporation (NFCorp) has breached its loan conditions with the Federal Government. Nazri was reported to have said: "In a way, there has been a constructive breach of trust. The money, which was meant for the cattle industry, was used for something else. The money was specifically given out based on a project given to NFCorp, that it could raise cattle and sell (it) at a cheaper price."

In other words, we have a damning indictment by the Law Minister himself that the RM 250 million loan used to pay for Shahrizat and her family's personal expenses, purchase of two luxury condominium units in Bangsar, Kuala Lumpur is a criminal breach of trust. Malaysians want to know why has neither the Malaysian Anti-Corruption Commission (MACC) nor the police taken any action on those responsible in the RM250million NFC fiasco?

On 22 December 2011, the MACC announced that a special team headed by MACC investigating director Datuk Mustafar Ali has been formed to investigate claims of misappropriation in the NFC issue. A month later, Parliament's Public Accounts Committee (PAC) chairman Azmi Khalid stated that they will wait for the police and the MACC to complete their investigations before deciding if it should continue with its own probe.

One week ago, Federal Commercial Crimes director Syed Ismail Syed Azizan said that the police was nearly done with their investigations and would be re-submitting their investigation papers to the Attorney-General. This will in fact be their second submission as the Attorney-General had returned their initial findings on January 17 and requested for further investigations.

In other words, there has been a merry-go-round of investigations and shifting of responsibilities but not a single mode of action has been taken! Law Minister Nazri Aziz has made it clear that NFCorp has breached its loan conditions and committed constructive breach of trust by utilising public funds from a RM250million government loan to purchase luxury condominiums worth millions in Bangsar, Kuala Lumpur. There are now numerous allegations that other luxury condominiums have been bought overseas as well.

In developed countries committed to fighting corruption, failure to hold an open tender is tantamount to a corrupt act. Already the failure to hold an open tender for the NFC has even been highlighted by Datuk Seri Nazri Aziz. Malaysians now demand to know who is sleeping on the job and why MACC and the police have not acted against those responsible when the Law Minister Nazri Aziz himself has said that the RM250 million NFC cows and condos scandal is tantamount to constructive breach of trust.

*Lim Guan Eng, DAP Secretary General & MP for Bagan