THE discord at Perak-based lingerie manufacturer Caely Holdings Bhd has worsened with its founder Datin Fong Nyok Yoon having lodged a police report against the company’s board of directors for the dissemination of false and misleading information to Bursa Malaysia.
Her action follows the revelation made by fashion designer, Datuk Jovian Mandagie that his recent appointment as the group’s executive vice chairman was false. This has eventually led to the son-in-law of Prime Minister Datuk Seri Ismail Sabri Yaakob withdrawing his directorship last Friday (June 17).
For the record, Jovian, 36, who holds a Diploma in Fashion Retail from the Lim Kok Wing University, was appointed to the said position just three days earlier last Tuesday (June 14).
In her police report, Fong, who is also Caely’s non-executive non-independent director, said she came across an article in The Sun Daily entitled “Jovian Mandagie Seeking Legal Advice to Act against Caely Holdings”.
“I am disappointed with how the current board of directors has proceeded with the appointment of both directors at that time, namely Jovian and Sandraruben Neelamagham (independent non-executive director),” she pointed out in a media statement.
“This has resulted in the allegations by Jovian that the appointment is false, untrue and misleading.”
Fong further claimed that the announcement of such appointments without prior agreement from both appointed directors has led to a false and misleading representation of the group in the eyes of its shareholders.
“It reflects the incompetency and lack of transparency of the personnel responsible,” she lamented.
Lawyer Sandraruben, 35, who was appointed as Caely’s INED alongside Jovian on June 14 has also withdrawn his directorship on June 17, according to a Bursa Malaysia filing by the company.
In her police report, Fong also claimed that the company’s existing directors were only given documents with regard to the qualification and adequacy of both candidates (Jovian and Sandraruben). The impression given to those present during the meeting was that Jovian and Sandraruben have consented to their directorships.
Fong also noted that the two resolutions and draft announcements pertaining to the appointment were posted by the company secretary via Caely’s board WhatsApp group on June 14 June at 6:40pm.
The board was then requested to approve the resolutions by 6:50pm, which amounted to only a 10-minute time frame for consideration and deliberation.
In any event, Fong did not approve the appointments. She was shocked to later discover that neither did the candidates consented to their appointments in the first place.
Aside from this, Fong also highlighted in her police report that the media releases issued by Caely were misleading and were never approved by its board of directors.
“The board did not approve any resolution to appoint the public relations (PR) agency who disseminated the media releases,” she added.
At 12:13pm, Caely was down 3 sen or 8.33% to 33 sen with 439,600 shares traded, thus valuing the company at RM85 mil. – June 20, 2022
