KUALA LUMPUR — The Malaysian Anti-Corruption Commission (MACC) has frozen certain bank accounts belonging to Padini Holdings Bhd and its subsidiaries as part of an ongoing investigation.
In a filing with Bursa Malaysia today, the garment retailer said the accounts were frozen under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“The company is assisting in the ongoing investigation, and the affected accounts are not actively used for the group’s day-to-day operations,” Padini stated.
The group added that it still has access to other banking facilities to support its ongoing business activities.
“Based on the information currently available, the board is of the view that the freezing of the aforesaid accounts is not expected to have a material financial and operational impact on the group,” it said.
Padini confirmed it is taking steps to engage with the relevant authorities and will provide full cooperation in the investigation. — April 24, 2026