Priceworth’s Lim becomes managing director of Bertam

KUALA LUMPUR (Oct 17): Bertam Alliance Bhd has appointed Sabah businessman Lim Nyuk Foh as its managing director, a filing to Bursa Malaysia revealed today. Lim is also the managing director and founder of timber products manufacturer Priceworth International Bhd.

In a filing to Bursa Malaysia today, Bertam said Lim is to succeed Tan Ai Tong, who has been re-designated as executive director.

It is worth noting that Lim had also recently became a substantial shareholder of building materials manufacturer Sarawak Consolidated Industries Bhd with a 23.47% stake.  

Bertam, a property developer, saw the emergence of Wisma Jutamas Sdn Bhd as its major shareholder in July, with a 32.89% stake. Wisma Jutamas, whose individual owners are not known, had acquired the stake from Brem Holding Bhd.

Bertam today slipped 2 sen or 2.38% to closed at 82 sen, with a market capitalisation of RM169.54 million, while Priceworth rose 1 sen or 5.56% to 19 sen, with a market capitalisation of RM75.56 million.