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Wednesday, 20 April 2022, 21:00 HKT/SGT

Source: Caely Holdings Bhd
Caely Holdings Bhd Working to Unfreeze Bank Accounts
Group taking measures to ensure business continuity as livelihoods of employees at stake

KUALA LUMPUR, Apr 20, 2022 - (ACN Newswire) - Caely Holdings Bhd, a leading domestic producer of women's intimate apparel, takes note of the order to freeze all the Group's bank accounts and wishes to reassure all stakeholders that measures are being explored to ensure business continuity and sustainability.

Caely Executive Director and Chief Executive Officer Mr. Lim Chee Pang

Caely Executive Director and Chief Executive Officer Mr. Lim Chee Pang said, "The unfreezing or partial unfreezing of the bank accounts are our top priority. 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.

The Group also understands the concerns of stakeholders and is working as speedily as it can to resolve any issue arising from the freezing of the bank accounts and will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments.

Caely Holdings Bhd: http://www.caelyholdings.com/
Caely Holdings Bhd: 7154 / [BURSA: CAELY] [RIC: CAEY:KL] [BBG: CHB:MK]

Topic: Press release summary
Source: Caely Holdings Bhd

Sectors: Fashion & Apparel, Daily Finance, Local Biz
From the Asia Corporate News Network

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