Bursa Malaysia fines eight CFM directors RM2mil for listing breaches
Bursa Malaysia Securities Bhd fined eight directors of Computer Forms (Malaysia) Bhd (CFM) a combined RM2 million and publicly reprimanded the company for breaches of the Main Market Listing Requirements.
Source: The Star · KLSE Screener · July 21, 2026 at 1:24 PM · AI-assisted report
Single-sourceKUALA LUMPUR, 21 JULY 2026 —
Bursa Malaysia Securities Bhd fined eight directors of Computer Forms (Malaysia) Bhd (CFM) a combined RM2 million and publicly reprimanded the company for breaches of the Main Market Listing Requirements.
Market Impact
The exchange said the directors contravened Paragraph 16.13(b) of the Listing Requirements by allowing CFM to issue an inaccurate and misleading announcement on Jan 5 2023 about a joint venture with EA Mobility Holding Co Ltd.
The Jan 5 announcement omitted a shareholders’ agreement that gave EA Mobility the right to compel CFM to repurchase its stake if CFM failed to secure RM12.5 million in cash and confirmed orders for 200 electric buses by June 30 2023.
Bursa Malaysia also found CFM’s July 3 2023 press release did not disclose that the company had missed the June 30 deadline, leaving EA Mobility entitled to exercise the put option and potentially terminate both agreements.
“Timely, full and accurate disclosure of material information is paramount to enabling investors to make informed decisions, ensuring an orderly and fair market, and maintaining market integrity and investor confidence,” Bursa Malaysia said.
The exchange imposed fines of RM250,000 on four executive directors, RM150,000 on two non-executive directors and RM100,000 on two independent directors.
CFM’s share price fell 5 sen to RM0.55 at the close, paring a mid-morning gain of 2 sen from the previous close of RM0.60.
The company has until May 11 to appeal the decision and has not indicated whether it will do so.
Related: Bursa Malaysia