NFC: Saga of the cow, condo & family

by Soraya

I wish to ponder my professional point of view on the NFC fiasco.

Details like how much grants and loans have they received will not be discussed here. It’s everywhere. Some view the decision to invest these money on properties was a smart move made by the management. Well, it is smart if NFC is a privately-owned corporation without any links to the government and the national agenda. Hence even if NFC intended to perform unrelated-diversification to minimize risk and support growth, a new flagship company should be established to serve the purpose of this business activity.

Well you see, to be qualified for any government grants or loans, let’s take grant in this post, a company’s business activity must fulfill certain criteria that have been pre-determined by the committee, which in the case of NFC, I assumed this committee could be collectively represented by the MoA, MoF, IRB and many more. The business model will need to be revised over and over again til it meets the requirement. Thereof, non-related activities such as investment of properties will definitely need to be excluded in the project financial cash flow of the business plan. Meaning that, when the decision made to reward the grants to specific company must have been based on the evaluation of the business model for the core generating income.

Upon the disbursement of grants, normally it will be followed by evaluation from the monitoring and compliance team, which will identify how the money being utilised and whether the company manage to execute its business model.

But the point here, since NFC can be categorized as part of the national agenda, it means that the corporation should be able to generate significant revenue in the related sectors to support the economic growth, making contribution to the GDP and also to create specific amount of employment for skilled or knowledge workers in this particular fields. Not only that, come to think of it, why do we need NFC?? Why breeding cows?? Well, it’s simple..This is part of the government solutions in resolving food security issue.

Funny thing is that, why breed cows in that selected designated area, which obviously will not be able to support the breeding of cows. We are talking about high Beta here

Was NFC, a project designed to fail? Or it fails because of the lack of the management focus to develop the feedlots and instead invested the money for higher and faster return. Even if the property belongs to the company, does the company truly need it at this point of time when it struggles with its core business?

Nonetheless, this scandalous cow-condo tale certainly tarnish BN’s reputation. We all can’t deny it. Imagine if nobody brought up this scandal to the public? That’s a fabulous life on lane you have there for the management.

There’s a saying refers to a country’s economic instability was not contributed by the economy but by those who manages the economy.

Look at us now, at one time the government been barking to us that if we do not cut our spending on the subsidies, the country would go bankrupt. So after all this cutting and reduction, why isn’t the economy getting better? Worst cause its beginning to become worst than worse. Perhaps they are cutting the wrong pie. Look at the allocation to the government servants and grants that mostly benefited close acquaintance and relatives. These are where the big chunk of the budget goes to. Maybe the special Bumiputera privileges are no longer relevant since the practice of crony capitalism been hiding behind this act.

I wasn’t a fan of Anwar but this NFC is definitely worst than Anwar’s sodomy accusation. NFC involves the million ringgit taxpayers money. Anwar’s sodomy affected only one pathetic ‘jambu’ boy.

P/s: Could it be that NFC intended to produce  high value-added product such as Wagyu beef. The condo was meant for the cows.

 "This is a strategic view on the NFC-fiasco, with no intention to sabotage or to support any parties. It is a fairly general evaluation on the project and not meant to hurt any individuals and organizations, their image and reputation."