Caely appointed Virdos Lima in early April to conduct a forensic audit on allegations of suspicious and irregular transactions at Caely. On April 20, the lingerie maker announced that the Malaysian Anti-Corruption Commission (MACC) had issued a freeze order on all the operational bank accounts of the company and its subsidiaries. Two of its board members, namely executive director and chief executive officer Lim Chee Pang and independent non-executive director Lim Say Leong, subsequently resigned on April 29. She was redesignated to be the executive chairman on May 17 when she was an executive director. She joined Caely's board as an executive director on April 28.

Source: The Edge Markets June 13, 2022 20:08 UTC