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KUALA LUMPUR (Nov 25): Bertam Alliance Bhd has appointed Liu Shenghui as its acting managing director, after he emerged as the group's second-largest shareholder recently.
Liu, 57, from China, currently holds an independent and non-executive directorship at NWP Holdings Bhd.
He acquired some 15.62 million shares via an off-market transaction on Nov 8, raising his shareholding in Bertam Alliance to 23.92 million or a 11.57% stake.
Subsequently, he bought an additional five million shares via an off-market transaction on Nov 15, further raising his stake in the group to 13.98%. This makes him Bertam Alliance's second-largest shareholder.
Meanwhile, the group has redesignated its largest shareholder Lim Nyuk Fong to the post of executive director, from managing director previously. Lim holds a 18.23% stake in the company.
It also appointed Mohd Azwan Abdullah Lamat as its non-independent and non-executive director.
Bertam Alliance shares were last traded at 20 sen, valuing the group at RM41.35 million.
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