CAELY Holdings Bhd is taking all measures to ensure business continuity as the livelihoods of their employees are at stake.

The leading domestic producer of women’s intimate apparel has reassured all stakeholders that measures are being explored to unfreeze all the group’s bank accounts.

Caely executive director and chief executive officer Lim Chee Pang said the unfreezing or partial unfreezing of the bank accounts are their top priority.

“We are exploring all avenues to resolve this issue, as we need to ensure that business operations are sustained.
 
“We are answerable to our shareholders on how the business is run,” he said in a statement.

On Monday, Caely announced that the authorities have issued a freeze order on all bank accounts of the Caely Group of Companies.

In a filing with Bursa Malaysia, the company stated it expected an impact on the financial and operational aspects of the Caely Group of Companies as a result of the freeze order.

It said the board was not aware of any wrongdoing and would seek further clarification from the authorities on the issue.

“The board is unable to ascertain the full financial and operational impact at this juncture,” it said.

Lim said the board of directors is monitoring the situation closely and is working with the management on unfreezing the bank accounts.
 
“We can confirm that we are in contact with the authorities and will extend whatever cooperation or assistance needed for the matter to be resolved.”

He added that 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 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.
 
“The group understands the concerns of stakeholders and is working as speedily as it can to resolve any issues arising from the freezing of the bank accounts.

“We will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments.” – April 20, 2022.