Quick take: Caely jumps 19%, most heavily traded

KUALA LUMPUR: Caely Holdings Bhd’s shares were hotly traded in early trade Monday with some 70 million shares done, making it the most actively traded counter.

The women intimate apparel manufacturer jumped 19.35%, or nine sen to 55.5 sen. Year-to-date, the counter has risen some 19.5%.

The company has not made any corporate announcements recently. All its resolutions were passed at its recent AGM.

Last month, the auditors of Caely raised doubts whether the company would be able to fully recover RM11.995mil due to a subsidiary for construction work done at a Felcra Bhd housing project.

"We are uncertain of the full recovery of certain trade receivables of the group amounting to RM11.995mil as at financial year end, as a substantial amount on the completed construction payments that have not been received," the auditors told Bursa Malaysia.

"We were unable to obtain sufficient and appropriate audit evidence on the impairment assessment of the above-mentioned carrying amount of the said receivables in accordance with MFRS 9 Financial Instruments. Consequently, we were unable to determine whether any adjustments to these amounts were necessary," they said.

In an earlier announcement, Caely will make fabric protective masks and personal protective equipment (PPE) for Ni Hsin Resources Bhd.

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