Nusmetro Ventures: The Balik Pulau connection

Anil Netto

Who exactly owns Nusmetro Ventures (P) Sdn Bhd, the developer of the Oasis luxury condominium project?

According to the latest records for the developer filed with the Companies Commission of Malaysia, Asia Link-up Sdn Bhd holds 96 per cent of the RM250,000 issued share capital of Nusmetro Ventures (P) Sdn Bhd.

That makes Nusmetro Ventures (P) Sdn Bhd almost a wholly owned subsidiary of Asia Link-up.

But who owns Asia Link-up then? It’s now time to lift its corporate veil as well.

According to the Companies Commmission, Asia Link-up documents registered as at 24 April 2009 show that Mohamad Faridz Karim of Balik Pulau owns 80 per cent of the company’s RM500,000 issued share capital. Faridz has also been director of Asia Link-up since October 2004 and director of its subsidiary, Nusmetro Ventures (P) Sdn Bhd, since April 2005.

So that makes Faridz one of the key men on the developer’s side.