KUALA LUMPUR (Sept 15): Perak-based lingerie maker Caely Holdings Bhd said its founder and non-executive director Datin Fong Nyok Yoon has resigned effective immediately, citing health issues.

She has also relinquished her position in the risk and remuneration committees. Fong is the wife of Caely’s former managing director Datuk Chuah Chin Lai.

In April, Fong, 61, had launched a lawsuit against the company and six current and former directors, prohibiting them from allotting and issuing new shares in the company through a private placement exercise.

In June, she had also lodged a police report against the lingerie maker’s board of directors for the dissemination of alleged false and misleading information on Bursa Malaysia regarding the appointment of Datuk Jovian Mandagie and Sandraruben Neelamagham as board members. Caely later retracted the appointment of Mandagie and Neelamagham, citing miscommunication.

Then in August, Caely filed a lawsuit against Fong and 11 others to recover alleged misappropriated funds amounting to RM30.55 million, as well as seek exemplary damages from Fong and Chuah for breach of fiduciary duty as directors of the company.

Caely came under the spotlight in April amid a freeze order on its subsidiary’s bank accounts by the Malaysian Anti-Corruption Commission and an ongoing forensic audit probe into allegations of suspicious and irregular transactions.

Less than two weeks prior to MACC’s freeze order, Caely had appointed an independent forensic auditor, Virdos Lima Consultancy (M) Sdn Bhd, to investigate allegations of suspicious and irregular transactions in its wholly-owned subsidiary Caely (M) Sdn Bhd (CMSB), which is involved in property development, construction, sales and trading of undergarments, garments and personal protective equipment.

The company’s boardroom also saw an overhaul last month.

Caely shares were untraded today. It last closed at 28.5 sen, bringing it a market capitalisation of RM73.6 million.