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PETALING JAYA: Caely Holdings Bhd’s new board of directors today lodged a police report to seek assistance for an investigation into alleged misappropriation of funds amounting to RM30.55 million involving a wholly owned subsidiary, Caely (M) Sdn Bhd (CMSB), during the tenure of the previous board.

Reference was made to the civil case filed at the Ipoh High Court pertaining to alleged misappropriation of funds, mainly by Datin Fong Nyok Yoon and Datuk Chuah Chin Lai amounting to around RM30.55 million.

In its police report, Caely expressed suspicions that “there was a ruse or effort to cover up related irregularities by the previous board of directors comprising those who were on the board of the company during the period of which the irregular transactions had transpired prior to the appointment of the new board members on Aug 29, 2022.

“This is because although a forensic investigation has been initiated by the previous board through the appointment of Virdos Lima Consultancy (M) Sdn Bhd in April, the previous board of directors, especially chairman Datuk Wira Ng Chun Hau who initiated the forensic investigation, had failed to cooperate fully, abruptly resigned and appeared to be an attempt to thwart any necessary legal investigation,” Caely said in a statement today.

Caely said the appointment of Virdos Lima by the former board shows that the members at that time were aware of the said irregularities. As such, Caely has requested that the police investigate the elements of crime and misconduct that have caused losses to Caely and also the concealment of such wrongdoings by the members of the previous board.

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