KUALA LUMPUR (June 24): Tan Sri Lim Kang Hoo and Khoo Nang Seng @Khoo Nam Seng have both resigned from their positions as executive directors of medium and heavy machinery equipment manufacturer Knusford Bhd.

In a filing with Bursa Malaysia today, Knusford said Lim, 60, and Khoo, 75, cited other work commitments as the reason for their resignation.

Lim, a renowned businessman, is the executive chairman of Ekovest Bhd, which is the operator of the Duta-Ulu Kelang Expressway (DUKE); he is also the executive vice chairman of Iskandar Waterfront City, as well as a director of several other private limited companies.

He is also the father of Lim Chen Herng and uncle of Lim Jenq Kuan, both of whom are executive directors in Knusford.

Khoo, meanwhile, also holds directorship in several other private limited companies.

Knusford's (fundamental:2.1; valuation: 3) shares were not traded on Bursa Malaysia today. It last closed at RM1.81, for a market value of RM180.36 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)