Caely which has been operating under a freeze order of its bank account on all operational accounts of the company since April can now breathe a sigh of relief as the authorities have now unfrozen the accounts.
In a Bursa filing, Caely’s board announced that the Malaysian Anti-Corruption Commission had completed its investigation and has filed no charges against the company. The lingerie maker also added that MACC had also unfroze the operational accounts of the company and its subsidiaries.
This refers to the authority issuing the freeze order back on April 20th, Caely said the order was only made known when one of the banks informed the company on 13 April 2022. It also added that it had no knowledge as the freezing order was never served on the Company and stated that all the subsidiary’s bank accounts maintained with the banks had also been frozen.
Caeyl also has no idea why the freeze order was issued by MACC and why a freeze order was served to the company.
During that period Caely said it was facing difficulty and was unable to make any payment to suppliers, salary, banks, or any party. It added that it was exposed to potential lawsuits and claims for breach of contracts because unable to make payment and fulfill its commitment.
