KUALA LUMPUR (April 2): Bertam Alliance Bhd’s managing director (MD) Lim Nyuk Foh has emerged as a substantial shareholder of the company, after the Sabah businessman wiped up some 12 million shares that represent a 5.8% stake in the property developer from the open market.

Lim, who is also the MD and founder of timber products maker Priceworth International Bhd, has been accumulating Bertam’s shares from the open market since late February this year, according to various filings to Bursa Malaysia.

Lim, 51, was appointed Bertam’s MD in mid-October last year, succeeding Tan Ai Tong who was re-designated as executive director.

Other than helming Bertam (fundamental: 1.05; valuation: 1.2) and Priceworth (fundamental: 0.35; valuation: 1.2), Lim is also the non-independent and non-executive director of Sarawak Consolidated Industries Bhd, in which he owns a collective direct and indirect interest of 29.23% as of Jan 13 this year.

Sarawak Consolidated (fundamental: 0.55; valuation: 0.6) manufactures building materials.

Bertam fell half sen or 0.7% to 70.5 sen today, giving it a market capitalisation of RM145.76 million.

Priceworth was unchanged at 17.5 sen, with a market capitalisation of RM79.47 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.)