Caely Reassures Stakeholders

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Kuala Lumpur, April 20: Malaysian public traded lingerie maker Caely Holdings Berhad, who is a domestic producer of women’s intimate apparel has reassured its stakeholders that it is doing all that it can to unfreeze its bank accounts in order to ensure its business sustainability and continuity.
“The unfreezing or partial unfreezing of the bank accounts are our top priority,” Caely Executive Director and Chief Executive Officer Lim Chee Pang (pictured above) said.

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“We are exploring all avenues to resolve this issue, as we need to ensure that business operations can sustain.
“We are answerable to our shareholders for how the business is run.
“The Board of Directors 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,” Lim said.
The management is at this juncture still assessing the impact from 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.

He added that the group would make necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments.
On April 7, Caely had announced the appointment of Virdos Lima Consultancy (M) Sdn Bhd as its forensic auditor to carry out an independent forensic audit on allegations of suspicious and irregular transactions at the company.
It had cited that one of its independent non-executive directors had received an anonymous package containing documents, raising concerns on several suspicious transactions involving Caely as circumstances led to the forensic investigation.
Investigation are expected to be completed by May 31.

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According to the Edge, Caely’s 2021 Annual Report showed that its substantial shareholders comprised Penang-based businessman Datuk Seri Goh Choon Kim with a 21.69 per cent stake, Caely executive director Fong Nyok Yoon and spouse Datuk Chuah Chin Lai, who was the former managing director of Caely, jointly owning 13.07 per cent, while its executive chairman and Public Gold Group’s founder Datuk Wira Louis Ng Chun Hau held a 25.26 per cent stake in the company as at July 30, 2021.
Caely shares closed down two sen or 4.65 per cent at 41 sen on Wednesday, bringing it a market capitalisation of RM105.88 million with a total of 2.88 million shares traded.

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