Padini Holdings Berhad has stated that it is not aware of any wrongdoing following the freezing of several of its bank accounts linked to an ongoing money laundering investigation.
In a statement issued today, the group said the action was taken by the Malaysian Anti-Corruption Commission (MACC) as part of a probe involving certain external counterparties who are not connected to the company’s employees, officers, or management.
Padini stressed that, based on current information, there are no allegations directed at the company itself, describing the freezing order as a standard procedural step during investigations.
The retailer added that it remains fully cooperative with authorities and is committed to maintaining transparency throughout the process, while taking proactive steps to address the situation.
As a precautionary measure, the company has initiated an internal review to examine the circumstances surrounding the case, including its compliance framework and internal controls.
Padini also confirmed that external legal counsel has been appointed, and it is considering appropriate legal action, including efforts to lift the freeze on the affected accounts.
Despite the development, the group assured that its daily operations continue without disruption, with business activities proceeding as usual. Further updates will be provided as the situation evolves.
