KUALA LUMPUR: The government audit of the National Feedlot Corporation "will help allay public concerns and criticism as the findings would bring out the hard facts of the project," the company said.

It said the audit would hopefully dispel misconceptions about NFCorp and help restore the company's credibility, which has been dented by such “irresponsible allegations”.

NFCorp executive director Wan Shahinur Izmir Salleh, said in a statement, that the company was cooperating fully with police and anti-graft officers investigating the company for alleged abuse of federal funds and would await the outcome of the probe.

Last week, the government announced that an accounting firm would be appointed to conduct due diligence and project auditing of the NFC.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said this would be done in terms of the project's finances, fund usage and management.

"This is to protect the Government's interests, and this task is expected to be finalised in a month," he added.

Last October, the Auditor-General's Report 2010 indicated that the project had not met targets set by the Government.

It reported that the RM74mil NFC in Negri Sembilan was poorly managed and only produced 3,289 heads of cattle, which was 41.1% of its target.

Wan Shahinur said various parties had taken the word "mess" as described in the report of NFC's state of affairs to create a bigger perceptual confusion for all, much to the detriment of NFC.

“Nowhere and at no time had the Auditor General described in his 2010 audit report that National Feedlot Corporation Sdn Bhd was in a mess'.

“Clearly, critics saying the project being in a `mess' is inaccurate. And quoting the Auditor General to having said that is an allegation made out to mislead falsely and mischievously,” he said.

Izmir also encouraged the public to read the AG's report, available at the Jabatan Audit Negara's webite.

Related Stories:
Shahrizat: My right to sue
DPM: We'll appoint accounting firm to look into use of loan fund
Shahrizat sues PKR strategic director, Ampang MP for RM100mil
Govt to appoint accounting firm to audit NFC

• Khazanah MD says committed to MAS recapitalisation plan
• MPHB suspended for material announcement
• Petronas Chemical's FY2012 capex at RM2b
• Greece worries continues to dampen market sentiment
• TSH Resources' plantation capex at RM1bil over next 5 yrs
• China to buy over 2,500 commercial planes in 5 years to 2015: Xinhua
• UAC surges after hitting limit-up Tuesday
• Maybank IB gets HK investment banking licence
• Maybank Research has Hold call on Axiata, TP RM5.30
• FSBM's 5.02% stake transacted in off-market deal
• The Star sole English daily to post sales growth in H2 2011
• CIMB Research: MRCB's prospects remain good despite EDL issues
• KNM up on stronger earnings, bucks weaker market
• Tussle for Jaring heats up
• World Bank cuts China forecast, urges measured policy

• US Air jet diverts after passenger claims to have "device"
• Romney begins to stir in fight for US Hispanic votes
• Saudi prince sues Los Angeles to hasten mansion plans
• Survey: More top executives willing to pay bribes
• Scientists turn skin cells into beating heart muscle
• Gupta jury hears competing views of Rajaratnam ties
• Mountain lion wanders into California city center, is killed

• NBA: James and Wade on fire as Heat crush Pacers
• Tennis: Clijsters to retire again after US Open
• Chong Wei out for three to four weeks after ankle injury
• Malaysia face top seeds China in the quarters
• Yongbo gets away with defiant act again
• Kim Her defends his decision to tinker with doubles pairs
• Daren does okay
• Danish scratch pair perform like veterans to deliver winner
• Shahidatun sets record but fails to surpass personal best
• Champs Sarawak lead standings with six golds on opening day
• Bolt gets bold in Ostrava
• Seven juniors drafted into Beng Hai’s squad for Azlan Shah Cup
• Run of bad luck spoils it for Alex in 24-hour race
• Amirul confident of a good result in his pet event
• Bryan and Huang Qiang sticking to tried and tested routines

• MAS offers no-pay leave
• Roger Tan replies to Loyarburok
• New mobile app to book a taxi to be launched soon
• Loan sharks take out anger on family
• Grab opportunities offered to go far in life
• Extra services at JB massage parlours
• Get a whiff of new stamps with a lime scent
• Youth still in shock after being stabbed over parking dispute
• Guidelines on how to carry out enforcement on dogs soon
• Former Deputy Minister offers to be candidate in next GE