Round-the-clock breaking news from Malaysia.
CIMB Securities has retained its Buy recommendation on fashion retailer Padini Holdings, projecting 27% upside potential now that the Malaysian Anti-Corruption Commission investigation has been resolved, removing a significant cloud from investor sentiment.
The Malaysian Anti-Corruption Commission has unfrozen all bank accounts of Padini Holdings Bhd and its subsidiaries following an investigation. No charges or arrests have been made against the garment retailer or its personnel.
Fashion retailer Padini Holdings Berhad announced that the Malaysian Anti-Corruption Commission has restored access to all previously frozen bank accounts tied to its ongoing investigation.