Saturday 18 May 2024
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KUALA LUMPUR (March 9): Computer Forms (Malaysia) Bhd's (CFM) board of directors said it was unaware of the reason behind the recent sharp decline in its share price.

The board said it was also unaware of any rumours or reports that could have driven its share price downwards, in a Thursday (March 9) filing containing its response to Bursa Malaysia's unusual market activity query.

"Save for the joint venture agreement entered into between CFM and EA Mobility Holding Co Ltd which was announced on Jan 5, 2023, the board is not aware of any other corporate development relating to the company and its subsidiaries' (group) business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiation/discussion," it said.

The 50:50 joint venture between CFM and EA Mobility, a unit of Thai outfit Energy Absolute pcl, is for the development of green technology in Malaysia and a foray into the production of electric vehicles and related infrastructure.

CFM's share price had declined steadily since Monday, falling 40.82% or RM1 to RM1.45 on Thursday from RM2.45 on Monday.

On Wednesday, it plunged 29.72% or 69 sen to close at RM1.49.

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