The agreement for a RM250 million government soft loan to a National Feedlot Corporation (NFC) does not prohibit a company from regulating a supports for investments separate to a cattle industry, pronounced a CEO.
In a statement today, Wan Shahinur Izmir Salleh pronounced that as such, a company cannot be faulted for creation skill purchases when a feedlot plan was temporarily halted for a viability study.
"The loan agreement does not outline any expressed prohibitions upon investments... Rather than just fixation a monies in income marketplace instruments, it was deemed some-more shrewd commercial operation to deposit in skill in a reduced term.
"Making investment in a skill sector is putting a income where it is sound, as any investment has been distributed for a secure as well as clear returns," he said.
It is learnt that these investments refer to skill paid for underneath a company's name, together with a dual One Menerung Condominium units in Bangsar, Kuala Lumpur as well as a parcel of land in Putrajaya.
The three luxury condominium units in Singapore exposed by PKR were purchased underneath a names of executive directo! r Mohd S alleh Ismail, who is cupboard minister Shahrizat Abdul Jalil's husband, as well as their children.
In a statement today, Wan Shahinur Izmir Salleh pronounced that as such, a company cannot be faulted for creation skill purchases when a feedlot plan was temporarily halted for a viability study.
"The loan agreement does not outline any expressed prohibitions upon investments... Rather than just fixation a monies in income marketplace instruments, it was deemed some-more shrewd commercial operation to deposit in skill in a reduced term.
"Making investment in a skill sector is putting a income where it is sound, as any investment has been distributed for a secure as well as clear returns," he said.It is learnt that these investments refer to skill paid for underneath a company's name, together with a dual One Menerung Condominium units in Bangsar, Kuala Lumpur as well as a parcel of land in Putrajaya.
The three luxury condominium units in Singapore exposed by PKR were purchased underneath a names of executive directo! r Mohd S alleh Ismail, who is cupboard minister Shahrizat Abdul Jalil's husband, as well as their children.
'We couldn't return a money'
According to Izmir, skill investments have been additionally great as "tenanted properties bring in rental income" that is a "bonus in fund management".
"The skill marketplace is receptive to advice as well as secure, some-more stable as well as reduction volatile than others," he said.
He! combine d that NFC had primarily decided to deposit in properties in order to put a income in great use in a "breather" period whilst a viability study was conducted as a income could not be returned to a government.
"(NFC's) commercial operation operations have been guided by a comprehensive loan agreement that definitely outlines a conditions as well as conditions together with a on-going draw-downs for (the feedlot project) as well as a deliverables.
"Amounts drawn-down from a special loan comment have been irrevocable that means it cannot be returned," he said.
According to Izmir, skill investments have been additionally great as "tenanted properties bring in rental income" that is a "bonus in fund management".
"The skill marketplace is receptive to advice as well as secure, some-more stable as well as reduction volatile than others," he said.
He! combine d that NFC had primarily decided to deposit in properties in order to put a income in great use in a "breather" period whilst a viability study was conducted as a income could not be returned to a government."(NFC's) commercial operation operations have been guided by a comprehensive loan agreement that definitely outlines a conditions as well as conditions together with a on-going draw-downs for (the feedlot project) as well as a deliverables.
"Amounts drawn-down from a special loan comment have been irrevocable that means it cannot be returned," he said.
He reiterated that a RM250 million, that was since at dual percent interest, is a loan as well as not a grant as well as it is a company's responsibility to service a loan.
"The idea of (NFC's) loan income being equated to open supports by hardline critics is a domestic ploy dictated to deceive a public," he said.
Read More @ Source "The idea of (NFC's) loan income being equated to open supports by hardline critics is a domestic ploy dictated to deceive a public," he said.
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