Decision Notice - Director Registration Cancelled for Budiman Effendi (2025-06-04)

Summary

This is a Decision Notice issued by CIMA cancelling the director registration of Mr. Budiman Effendi under the Directors Registration and Licensing Act, 2014 (as amended). The notice was published publicly because the Authority was unable to locate Mr. Effendi to deliver it directly.

• Action taken: CIMA cancelled Budiman Effendi's director registration (Registration #2860281) pursuant to section 25(2)(a) of the Act.
• Grounds: CIMA found, under sections 25(1)(a), (b), (d) and (e), that he was carrying on business in a manner detrimental to the public interest or covered entities, had contravened the Act, was not carrying on business as a registered director in a fit and proper manner, and was not a fit and proper person to hold the position.
• Effective date: The cancellation decision is effective 12 May 2025.
• Right of appeal: Mr. Effendi has the right to appeal the decision to the Grand Court under section 27(5) of the Act.
• Public interest note: CIMA states that any lack of communication with the Authority may be considered when assessing fitness and propriety of related registrants, licensees, or directors in current or future matters.

Applies to

registered directors, covered entities

Deadlines

• 12 May 2025: Effective date of the cancellation of Budiman Effendi's director registration