KUALA LUMPUR (June 27): Printing and packaging services provider Computer Forms (Malaysia) Bhd announced in a Bursa Malaysia filing on Tuesday (June 27) that its executive director Datuk Justin Lim Hwa Tat has quit the company due to "differences of opinion with the management".

Lim, 47, was appointed executive director last August. He is currently an executive director of SMTrack Bhd.

Last month, Computer Forms saw the departure of its chief operating officer Tan Keng Soon, who resigned due to personal commitments.

In March, Sanichi Technology Bhd's founder and group managing director Datuk Seri Dr Jacky Pang Chow Huat, who held 54.443% of Computer Forms' equity as at end-January this year as its largest shareholder, ceased to be a substantial shareholder of the group after suddenly dumping the bulk of his shares in the open market on March 27 and 28.

Pang, who is now left with a 4.49% stake, first emerged as a shareholder in Computer Forms in March last year, when he acquired a 64.97% stake in the company from Tan Sri Tan Hua Choon for RM79.91 million or 60 sen per share.

Prior to that, Computer Forms was issued an unusual market activity (UMA) query from Bursa Malaysia in early March, after its share price plunged 30% in a day.

At the time, Computer Forms said it was not aware of any reason that could have led to the UMA, other than the joint venture agreement it had entered into with EA Mobility Holding Co Ltd.

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

Computer Forms closed down half a sen or 2.78% at 17.5 sen on Tuesday, valuing the group at RM46.83 million. The counter has fallen over 90% year-to-date.