(Nov 23): The Finance Ministry is considering action against the National Feedlot Corporation (NFC) after it failed to pay interest in the RM250 million loan it received from the government, said the Auditor-General's (A-G) report.

The NFC, which ran the national feedlot centre project to breed cattle, owes the government RM340,000 in interest payments, said the A-G's report, the third in a series for 2014 which was released today.

"Arrears in default interest from 2012 for the National Feedlot Corporation Sdn Bhd totalled RM0.34 million.

"The (ministry) is considering legal action against the NFC," the report said.

The NFC scandal was first revealed in the 2011 A-G's report, which found that the cattle breeding project had failed its objectives.

PKR leader Rafizi Ramli later said the NFC project was awarded to a company controlled by the husband of Wanita Umno chief Datuk Seri Shahrizat Jalil.

Rafizi had alleged that funds meant for the project had been spent on non-cattle breeding activities such as buying luxury condominiums in Singapore.

On 2013, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said Putrajaya had managed to recover RM79.9 million from NFCorp after its accounts were frozen through the Anti-Money Laundering Act.

Husni also said NFCorp's assets worth RM23.3 million had also been frozen.

These include two parcels of land in Putrajaya, two properties in Menerung Township Villa and three plots of land in Gemas, Negri Sembilan.

Shahrizat's husband, Datuk Seri Mohamed Salleh Ismail, is facing charges of criminal breach of trust. – The Malaysian Insider