Kuala lumpur: The Malaysian Anti-Corruption Commission (MACC) has unfrozen all affected bank accounts of Padini Holdings Bhd and its subsidiaries that were previously held as part of an investigation. Padini announced in a statement that no director, officer, employee, or representative of the group had been arrested or charged in connection with the matter.

According to BERNAMA News Agency, the company confirmed that neither it nor any member of the group has been made the subject of any forfeiture proceedings related to the investigation. The garment retailer maintained that from the outset of the investigation, neither the company nor any member of the group was involved in any wrongdoing or improper conduct.

Padini reiterated its commitment to the highest standards of integrity, transparency, and corporate governance, emphasizing a strict zero-tolerance policy towards corruption, bribery, and all forms of unlawful or unethical conduct. The company expressed its appreciation to its shareholders, customers, business partners, employees, and other stakeholders for their continued trust, patience, and support throughout the period.

In April, the MACC froze certain bank accounts belonging to Padini as part of an investigation pursuant to Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The company subsequently initiated an internal review and clarified that the MACC investigation involved certain external counterparties to the group who were not its employees, officers, or management.