An UMNO Youth chief without a ministerial post Khairy Jamaluddin is finding lots of time defending a Minister via the backdoor (Senate) in the National Feedlot Corporation's project recently appraised by the Auditor-General, and described as "a mess" in its 2010 Annual Report.
The question high up in Desi's mind is WHY IS KHAIRY, the Rembau MP, doing all the talking, and NOT the minister and her family who were chiefly involved in the project?The defence put up by Khairy -- is that the official sanctioned esponse of the party involved -- the National Meat and Livestocks Corporation (NMLC), a company wholly-owned by Datuk Seri Shahrizat Jalil’s family?
If not, Khairy should just shuddup and channel his energies to serving the Rembau constituency unless he's posturing to take over Sharizat's ministry when she's booted up?
I think there has been just too many a Wanita UMNO chief (thief?)'s helping themselves to lucartive handouts by the Government. Does this NOT create a CONFLICT OF INTEREST SITUATION? Remember former cheif then MITI minister popularly called the Fat Lady with her son-in-law getting large portions of Bumi shares of listed companies, and they called this an NEP right? Right to loot government largesse which should rightly have been apportioned to the less well-off Bumiputras like taxi drivers and hawkers, NO?
Well, read the MI's report reprised below and judge for yourselves whether it's time at the next general elections (GE13) to VOTE ABU?!
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RM10m cattle condo was an investment, says Khairy
The Umno Youth chief claimed the condo was bought as an investment when the National Meat and Livestocks Corporation (NMLC), a company wholly-owned by Datuk Seri Shahrizat Jalil’s family, found itself with excess funds.
Khairy, who has appeared as Shahrizat’s staunch defender over the National Feedlot Centre controversy, said NMLC was left with surplus funds that when the government ran out of funds to develop satellite cattle farms.
It then decided on real estate investment as a means to put the excess liquidity to work.
He did not, however, say if the company was authorised to make the property investment.
“Should they have left the money in the current account, which does not have a high yield, while waiting for the satellite farms or should they have invested the money while waiting,” said Khairy.
“The management made a decision that the best return on investment would have been from real estate.”
Khairy added that the condo has since been rented out and also appreciated in value since it was purchased. He did not, however, specify the rental yield.
Many real estate experts have concluded that Kuala Lumpur is facing a glut of luxury properties, with rental yields falling as much as 50 per cent in some cases.
PKR secretary-general Saifuddin Nasution said yesterday the luxury apartment at One Menerung, Bangsar, was recorded by NFC, a cattle farming project managed by the minister’s family, as part of a RM83 million “loan” to NMLC.
Today, Khairy also slammed PKR strategic director Rafizi Rami and accused him of lying when the latter said beef from the feedlot project was sold only to elite restaurants.
According to the Rembau MP, beef from the project was also sold to Carrefour, Giant and wet markets.
“Most of the rest of the cow are sold in hypermarkets and wet markets and also enjoy this discount that Rafizi so desperately wants to link only to Meatworks,” said Khairy. “So this talk of ‘a subsidy for the elites who have expensive taste buds’ is absolute nonsense on multiple levels.”
The Auditor-General’s Report released last month had criticised the NFC, pointing out that it was now “in a mess”.
The report said production in 2010 was only 3,289 head of cattle or 41.1 per cent of the target set.
But Agriculture Minister Datuk Seri Noh Omar responded on October 31 that the project is a success and had met its targets.
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