Bursa Malaysia fines eight CFM directors RM2mil over misleading JVA disclosure
Bursa Malaysia Securities Bhd fined eight directors of Computer Forms (Malaysia) Bhd a total of RM2 million and publicly reprimanded the company for listing breaches tied to a January 2023 joint venture announcement.
Source: KLSE Screener · July 21, 2026 at 6:23 PM · AI-assisted report
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MALAYSIA, 22 JULY 2026 —
Bursa Malaysia Securities Bhd fined eight directors of Computer Forms (Malaysia) Bhd a total of RM2 million and publicly reprimanded the company for listing breaches tied to a January 2023 joint venture announcement.
Market Impact
The exchange said the directors breached Paragraph 16.13(b) of the Main Market Listing Requirements by allowing CFM to publish an inaccurate and misleading Jan 5, 2023 statement on a joint venture with EA Mobility Holding Co Ltd. CFM did not disclose a shareholders’ agreement signed the same day that gave EA Mobility the right to compel CFM to buy back its stake if bus orders and RM12.5 million in cash were not secured by June 30, 2023.
CFM’s announcement lacked sufficient detail for investors to evaluate the deal, according to Bursa’s statement.
The penalties were imposed after an investigation concluded CFM and the eight directors failed to ensure timely and accurate disclosure, Bursa Malaysia said.
The RM2 million fine is split among the directors, with individual amounts not disclosed. The reprimand and fines take effect immediately.
Related: CFM · Bursa Malaysia · Malaysia