This came on the heels of a new defamation suit filed against the company by its former executive chairman Ng Chun Hau on Tuesday.

Chun Hau had filed the suit over allegedly defamatory statements made against him in connection with the case.

In a statement issued to officially introduce its newly-appointed board of directors, executive chairman Ng Keok Chai said efforts would be made to recover “as much as possible” of the RM30.55 million allegedly taken from the company.

Keok Chai said the group would also provide the necessary documentation to forensic auditor Virdos Lima Consultancy (M) Sdn Bhd that is relevant to its investigation.

In February, a police report was filed against founder Fong Nyok Yoon, who was also executive director, her husband Alan Chuah and the previous board of directors for allegedly misappropriating the money through 10 questionable related-party transactions.

On Aug 26, all board members apart from Fong were removed and in their place, Keok Chai was appointed executive chairman, Leong Seng Wui as executive director as well as Kang Chez Chiang and Krishnan Dorairaju as independent non-executive directors.

Just over a month later, three more directors were appointed, namely Chong Seng Ming, Mior Faridalathrash Wahid and Kenny Khow. Khow was also appointed executive director.

In today’s statement, the company also disclosed plans to expand its manufacturing segment under a joint venture with an Indonesian partner.

It said the plan would include the addition of a new production facility to generate additional earnings in the near future.

Caely said it was also looking to engage market experts in property development to revive that segment of its business.

“We will have these experts identify potential projects for our additional land banks in Tapah and the Klang Valley with the objective of having these projects contribute positively to the group,” Leong said.

“This will also include future acquisitions to boost Caely’s overall business,” he added.