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KUALA LUMPUR, March 31 — Sanichi Technology Bhd founder and managing director Datuk Seri Pang Chow Huat has acquired a 64.97 per cent stake in Computer Forms (Malaysia) Bhd (CFM) for RM79.91 million, or 60 sen per share, from major shareholder Tan Sri Tan Hua Choon.
In a statement today, Pang said he saw great potential in CFM’s expertise in printing high-value products, and believed that the company would be printing currency notes for central banks in this region in the future, starting with Malaysia.
“Instead of outsourcing the printing of the ringgit notes to printers outside Malaysia, Bank Negara Malaysia (BNM) can print our Malaysian notes at CFM and save foreign exchange outflow to overseas,” he said.
CFM is a Malaysia-based company engaged in printing and distributing of computer forms, stock forms and specialised forms.
The company’s segments include business forms, data print services and commercial printing.
Meanwhile, in a filing with Bursa Malaysia today, CFM said prior to the acquisition, Pang did not hold any shares in CFM.
It said the offer price of 60 sen per share represented an 18.37 per cent discount over the last transacted price of 73.5 sen up to and including March 30, 2022.
CFM also announced that the company had received a notice of unconditional mandatory takeover offer notifying it of Pang’s intention to acquire all the remaining ordinary shares in CFM not already owned by him for a cash consideration of 60 sen per offer share. — Bernama