It’s time to lift the corporate veil on the developer of the Oasis project, Nusmetro Ventures (P) Sdn Bhd, to find out who the people behind it are. The company was previously known as Nusmetro Ventures Sdn Bhd, until the name was changed in 29 April 2005 – around the same time the previous state government entered into an agreement with the Penang State Government Officers Cooperative to alienate the High Chaparral land.
The Nusmetro Group website is very “shy” when it comes to revealing the names of the top people in the company. So we need to look elsewhere.
The three directors of Nusmetro Ventures (P) Sdn Bhd, according to information from registered company documents as at 3 February 2009 filed with the Companies Commission of Malaysia, are as follows:
- Mohamad Faridz bin Karim from Balik Pulau
- Lim Lai Cheng @ Lim Choh Poh from PJ
- Au Chee Kuan from PJ
Lam Chung Fatt from Batu Caves is the company secretary.
According to a PKR source, Mohamad Faridz is believed in Balik Pulau circles to be allegedly linked to a Penang Umno bigwig.
Although the status of the company is described as “existing”, the nature of business is described as “dormant”.
Imagine: the nature of business of a company involved in the multi-million ringgit Oasis project is described as “dormant”. What’s more, the firm has an issued share capital of only RM250,000.
A Nusmetro official reportedly claimed the company was losing RM6 million a year due to the delay in the project.
For the year ended 30 June 2008, records with the Companies Commission of Malaysia show that Nusmetro Ventures (P) Sdn Bhd posted a loss before tax of RM1.7 million. For the previous year, the loss before tax was RM348,000.
The company has non-current assets of just RM363,000 as at 30 June 2008.
Its current assets amount to RM14.1 million but its current liabilities total RM17.0 million.
Now, how did a company with a share capital of only RM250,000, with its nature of business described as “dormant” land up with a multi-million ringgit project?
Stay tuned.
What third force/alternative? … U never offer a SOLUTION. your soultion is Third force. Making empty promises just like the rest of the politicians.
U guys making more problems for the Government – investigate2 but at the end no action bacause BN Government/ mata2/Macca are palying Dumb bell over the affair. State Government has more things to do for millions of Penangites especially Indians living in other areas.
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[...] simple independent investigative journalism as seen here at http://anilnetto.com/accountability/lifting-the-corporate-veil-on-nusmetro-ventures-part-1/ by a citizen cast a doubt on the affair of the sale and transfer of the land, yet why did the state [...]
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nkkhoo , u r wrong. Penang people loves LGE . U must be not from Penang to know this. What a shame that u have not seen many folks from Penang shook hand with him whenever he was outside. Shame on you. Don’t even speak on behalf of people from people if you don’t share anything similar.
hindraf are morons . If BN use to demolish and put them in ISA for such street protest than do you think BN will ever help you in this? Have they forgotten that DAP ,PKR also help the release of the Hindraf in ISA?
I wish LGE use the same method to demolish High chaparal but i still wonder why LGE don’t do it yet.
So if hindraf prefer the way BN demolish the temple … than wait for the next election and vote them.
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Hello everybody, nkkhoo is the BN stooge!!
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[...] simple independent investigative journalism as seen here at http://anilnetto.com/accountability/lifting-the-corporate-veil-on-nusmetro-ventures-part-1/ by a citizen cast a doubt on the affair of the sale and transfer of the land, yet why did the state [...]
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donplaypuks
Another question is who are the shareholders? The real project movers may be the shareholders who may be hiding behind nominees. Similarly, the Chinese directors from KL & PJ may be nominee directors.
The real nominees ? one Tan Sri from Penang? Any comment on this ?
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lightbow
MCA is the one not helping to solve the people problem . what did they do to help?
When husband and wife quarrel , don’t get involve , either way you lose . Be smart , stay clear from trouble otherwise you get pulled into the mud for nothing ….
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kingkong on July 5th, 2009 at 10.45am
What third force/alternative? … U never offer a SOLUTION. your soultion is Third force. Making empty promises just like the rest of the politicians.
U guys making more problems for the Government – investigate2 but at the end no action bacause BN Government/ mata2/Macca are palying Dumb bell over the affair. State Government has more things to d
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I can do a lot of thing with CM’s executive power if I were LGE.
LGE has to do his part before blame MACC? Did LGE made any police report against KTK? NONE.
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Tommy on July 5th, 2009 at 12.08pm
Hello everybody, nkkhoo is the BN stooge!!
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If you are PR supporter, I will say sorry to PR for having this kind of low value supporter. Anyway, you are better than UMNO supporter who threaten to find my house.
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lightbow on July 5th, 2009 at 11.18am
nkkhoo , u r wrong. Penang people loves LGE . U must be not from Penang to know this. What a shame that u have not seen many folks from Penang shook hand with him whenever he was outside. Shame on you. Don’t even speak on behalf of people from people if you don’t share anything similar.
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Many grassroots will tell you, they voted PR because BN is too evil, not they like LGE or Anwar Ibrahim.
I will shake hand with Najib if I meet him in Lorong Haji Taib or any place. Does this mean I like him?
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The villager win the first court case that the Land should belong to them after that when the developer appeal to High court the judgement favour the developer …
You know past Anwar Case and Perak MB case just in favour of BN in High court
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Anil, how many kampungs in Penang Island & Penang mainladin the same shape as Kapung Buah Pala?
Its too late to go back into time. Kpg tg tokong was almost the same thing, that was how one kampung after one kampung after one kampung.
These UMNO perbodohkan orang kampung in the name of “kena buka ruang untuk pembangunan” & Gerakan played their cards.
UMNO fats division heads got rich and Gerakan must… kampungs make way for development…
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http://www.kpkpp.com.my/
Anil, you pls surf this. (One of them)… is from one branch of umno bkt bendera.
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nkkhoo,
u said:
“I will shake hand with Najib if I meet him in Lorong Haji Taib or any place. Does this mean I like him?”
so my question to u is do u like him???
peace
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