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PETALING JAYA: Caely Holdings Bhd’s newly appointed board believes it can steer the company out of financial distress, in light of the current boardroom tussle and ongoing lawsuits that are impacting its operations.

The lingerie maker’s board, led by executive chairman Datuk Loh Ming Choon, said projects have been laid down for the company’s future business.

He said the proposed projects will be rewarding and are set to commence in the near future.

Speaking at a media briefing yesterday, Loh said: “We have obtained a business partner from China and we are going to open up the market for Caely.”

Loh said the venture is expected to generate revenue for the company. “The details of the projects are being fine-tuned and will be disclosed at the appropriate time.”

On the Malaysian Anti-Corruption Commission’s (MACC) move to freeze Caely’s bank accounts, the board clarified that the alleged misconducts are under the management of the previous board of directors.

“The new board believes that the investigation and freezing of the bank accounts have arisen as one of the previous board member has allegedly lodged a complaint with the MACC.

“The company is currently working closely with the authorities to unfreeze the said accounts,” said Caely in a statement yesterday.