Kuala lumpur: Garment retailer Padini Holdings Bhd has commenced an internal review to assess the circumstances surrounding the freezing of certain identified bank accounts belonging to the company and its subsidiaries by the Malaysian Anti-Corruption Commission (MACC).

According to BERNAMA News Agency, the company stated that, based on information presently available, the order was issued by the MACC in connection with an ongoing investigation involving certain external counterparties to the group who are not employees, officers, or part of the group's management.

The company emphasized that, based on current information, they are not aware of any allegations or wrongdoing on their part and understand that the freezing order is a procedure taken during the course of the investigation. Padini has engaged external legal counsel to advise on the matter and is considering necessary steps, including seeking appropriate relief to unfreeze the affected accounts.

Padini also assured that the group's daily operations remain fully functional and uninterrupted, with business continuing as usual. The company pledged to provide further updates if there are any material developments.

Furthermore, Padini affirmed its commitment to full cooperation with the relevant authorities and maintaining transparency throughout this process. The company's recent filing with Bursa Malaysia confirmed that the MACC has frozen certain identified bank accounts of the company and its subsidiaries pursuant to an order issued under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.