PETALING JAYA: National Feedlot Corporation Sdn Bhd chairman Datuk Seri Dr Mohamad Salleh Ismail has expressed thanks to the High Court for exonerating him and his family of misusing the RM250mil loan granted to the company.
KUALA LUMPUR (March 17): National Feedlot Corp Sdn Bhd s (NFC) net worth would be between RM85 and RM95 million if it was still in operation today, an expert witness told the court in the trial between the cattle farmer, its chairman Datuk Seri Dr Mohamad Salleh Ismail and nine others.
The defendant s first witness Andrew Heng, a partner in the firm Ferrier Hodgson MH, testified that the net worth of RM85-RM95 million was based on his projections. Heng was commissioned by NFC to conduct a review of a due diligence report conducted by PricewaterhouseCoopers Malaysia.
Heng said that his projections were based on the assumption that the government had made good in its obligation to build an Export Quality Abattoir (EQA) to carry out livestock farming and beef production.