KUALA LUMPUR (May 13): Public Gold Group founder Datuk Wira Louis Ng Chun Hau has resigned as the executive chairman of Caely Holdings Bhd.

In a filing on Friday (May 13), the Perak-based company said the 54-year-old resigned to ”pursue other personal opportunities”.

Despite his exit from the board of the lingerie maker, Ng still owns a 16.96% stake (43.79 million shares), and a 7.04% indirect stake (18.19 million shares).

According to a filing dated May 6, Ng had offloaded five million shares or a 1.94% stake in the company — via his indirect interest — through his spouse Datin Wira Lim Chee Ting in the
open market on May 5.

Earlier on April 4, he had disposed of 13.13 million shares or 5.1% indirect stake in Caely, held through Public Gold Marketing Sdn Bhd.

On March 1, the company’s chief executive officer Gok Ching Hee, who was also the chief financial officer, tendered his resignation effective April 18.

Meanwhile, its independent non-executive directors Tan Loon Cheang and Ng Boon Kang exited the company on March 16 and March 14 respectively.

Caely has been under scrutiny as one of its subsidiary's bank accounts had been issued a freeze order by the Malaysian Anti-Corruption Commission (MACC) on April 20.

Some two weeks prior to the freeze order, Caely had appointed Virdos Lima Consultancy (M) Sdn Bhd as its forensic auditor to carry out an independent forensic audit on allegations of
suspicious and irregular transactions at the group.

Following the appointment of the forensic auditors, Caely was hit with a request from Bursa Malaysia for additional information on the reasons and scope of the forensic audit.

In response, Caely said the circumstances of the forensic investigation were prompted after one of its independent non-executive directors had received an anonymous package
containing documents, raising concerns on several suspicious transactions involving Caely.

Caely’s shares closed half a sen or 1.33% lower at 37 sen, giving the group a market capitalisation of RM95.55 million.