Caelyy Holdings has announced that its Chief Financial Officer Ting Yi En has resigned from his role as e will be taking a different role moving forward.
The group which has been embroiled in much controversy due to management disputes and financial breach allegations by directors is struggling to regain footing and move beyond the crisis.
Caely had also recently disagreed with statements published by a business weekly alleging that its directors were arrested to this the group clarified thatt the police did not arrest anyone under Section 201 of the Penal Code for disposing of or hiding evidence of a crime with the intention of avoiding punishment.
On 14 September 2022, the police was with a search warrant issued by the Court to retrieve several old records/documents of one subsidiary to assist in their investigation. In this respect, there is no operational or financial impact on the Group.
Caely however said it has requested the police to supply a copy of the police report but was not supplied so far.
Further to the Court Order of 29 August 2022, Caely said it had served a notice to Messrs. Bachan & Kartar to immediately cease acting or holding out as its solicitors because the former directors were removed on 15 June 2022 and they have no power to appoint and as such, their appointment is invalid under the circumstances.
Caely had then appointed Messrs. Wilson Lim to replace Messrs. Bachan & Kartar and there is no withdrawal of the case as stated weekly.
