Caely working to unfreeze bank accounts

Caely products at a boutique

PETALING JAYA: Caely Holdings Bhd has reassured all stakeholders that measures are being explored to ensure business continuity and sustainability.

The lingerie maker earlier said the Malaysian Anti-Corruption Commission (MACC) has issued a freeze order on all the operational bank accounts of the company and its subsidiaries.

Caely said it had received a letter from CIMB Bank informing it of the MACC’s freeze order, while all of its bank accounts and those of its subsidiaries have been frozen.

“The unfreezing or partial unfreezing of the bank accounts are our top priority.

“We are exploring all avenues to resolve this issue, as we need to ensure that business operations can sustain,” executive director and chief executive officer Lim Chee Pang said in a statement.

“We are answerable to our shareholders for how the business is run. The board is monitoring the situation closely too and is working with the management on the unfreezing of the bank accounts.

“We can confirm that we are in contact with the authorities and will extend whatever cooperation or assistance is needed for the matter to be resolved,” he added.

“The management is at this juncture still assessing the impact of the order to freeze the bank accounts.

“We are working on the next steps, which also include measures to ensure that daily operations are not disrupted.

“The livelihoods of Caely employees, as well as our suppliers and vendors, are at stake,” Lim said.

The group also understands the concerns of stakeholders and is working as speedily as it can to resolve any issue arising from the freezing of the bank accounts and will make the necessary announcements to Bursa Malaysia as and when there are further developments.

Caely first informed Bursa Malaysia of the freeze order in an April 18 filing with the stock exchange operator, noting that an authority had suspended all its bank accounts.

It said it expected an impact on the financial and operational aspects on the Caely group of companies as a result of the freezing order, although it was unable to ascertain the full financial and operational impact at that juncture.

Caely’s shares closed two sen lower at 41 sen yesterday.