KUALA LUMPUR, April 25 — Several bank accounts belonging to fashion retailer Padini Holdings Berhad and its subsidiaries have been frozen by the Malaysian Anti-Corruption Commission (MACC) in connection with an anti-money laundering investigation.

In a filing with Bursa Malaysia yesterday, the company announced it was notified on April 24 that the freezing order had been issued under Section 44(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA).

While the company confirmed the action is linked to an ongoing MACC probe, no further details on the nature of the investigation were disclosed.

Operations not materially affected

Padini moved quickly to reassure the market, stating that the freeze is not expected to have a material impact on its financial and daily operations.

The company’s board of directors said that the affected accounts are not actively used for the group’s day-to-day business and that it continues to have access to other banking facilities to support its ongoing operations.

“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,” the statement read.

Padini affirmed that it is extending its full cooperation to the MACC and is taking the necessary steps to engage with the relevant authorities.

The company has pledged to provide further updates as and when there are material developments in the case.