KUALA LUMPUR (Nov 22): 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.