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The Malaysian Anti-Corruption Commission has lifted restrictions on all bank accounts belonging to Padini Holdings Bhd and its subsidiary companies that were frozen during a corruption probe, signalling conclusion of the investigation phase.
CIMB Securities maintains a buy recommendation on Padini Holdings, projecting 27% upside as the fashion retailer's latest statement on a Malaysian Anti-Corruption Commission investigation removes significant uncertainty from the stock's valuation.
Fashion retailer Padini Holdings has announced that the Malaysian Anti-Corruption Commission has lifted restrictions on all bank accounts previously frozen as part of its investigation into the company's operations.
The Malaysian Anti-Corruption Commission has released frozen bank accounts belonging to Padini Holdings and its subsidiaries. No arrests or charges have been made against company personnel following the probe.