Caely requests information from MACC about frozen bank accounts

KUALA LUMPUR: Caely Holdings Bhd investigation with the Malaysian Anti-Corruption Commission (MACC) over the freezing order issued on his bank accounts.

In response to a question from Bursa Malaysia Securities, the lingerie maker said it received a letter from CIMB Bank informing it of the MACC freezing order, while all its bank accounts and those of its subsidiaries were frozen .

However, he added that he had no knowledge of the details or reason for MACC’s action as the freezing order was never served on the company.

The company said it is currently exposed to potential lawsuits and breach of contract claims as it has been unable to make payments and fulfill commitments due to the freezing order.

“The company communicated with the banks to allow the company to use the funds and asked the reason for the freezing of the accounts.

“We have requested the release of the accounts but we have not yet received any response from the banks. In addition, investigations with MACC are still ongoing,” he said in the statement.

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

He said he expected an impact on the financial and operational aspects of the Caely group of companies as a result of the freezing order, although he was unable to determine the financial impact. and fully operational at this point.

As of 12:30 p.m., Caely was trading 1.5 sen or 3.49% lower at 41.5 sen per share on the back of 1.66 million shares trading hands.

Shawanda H. Saldana