KUALA LUMPUR (May 18): Three shareholders of troubled lingerie maker Caely Holdings Bhd, who collectively hold at least 10% of the company, have requisite for an extraordinary general meeting (EGM) to discuss various issues, including the removal of its newly-appointed executive chairman Wong Siaw Puie and six other existing directors.

In a bourse filing on Wednesday (May 18), Caely said it had on May 17 received a notice of intention from Leong Seng Wui, Kok Kwang Lim and Valhalla Capital Sdn Bhd to call for an EGM on June 15.

"The company is seeking legal advice on the above and further announcement will be made on any material development," it added.

The notice sought to remove Wong, Beh Hong Shien, Datin Fong Nyok Yoon, Datuk Loh Ming Choon, Datuk Mohamad Hanafiah Zakaria, Datuk Seri Sin Hock Min, Ng Mei Choo and any person appointed as a director of the company from May 16 up to the EGM.

At the same time, it is seeking the appointment of Leong Seng Wui, Kang Chez Chiang, Ng Keok Chai and Krishnan Dorairaju as directors of the company with immediate effect.

Caely recently saw the Malaysian Anti-Corruption Commission issuing a freeze order on all of its bank accounts. Earlier, the company had on April 7 announced that Virdos Lima Consultancy (M) Sdn Bhd had been appointed as forensic auditor to carry out an independent forensic audit on allegations of suspicious and irregular transactions at the group. It had cited that one of its independent non-executive directors had received an anonymous package containing documents, raising concerns on several suspicious transactions involving Caely as circumstances leading to the forensic investigation.

It had said that it expects the investigation to be completed by May 31.

Caely's 2021 Annual Report showed that its substantial shareholders comprised Penang-based businessman Datuk Seri Goh Choon Kim with a 21.69% stake; Fong and spouse Datuk Chuah Chin Lai, who was the former managing director of Caely, jointly owning 13.07%; while former chairman Datuk Wira Louis Ng Chun Hau held a 25.26% stake in the company as of July 30, 2021.

Caely shares closed unchanged at 37 sen on Wednesday, bringing it a market capitalisation of RM95.55 million.