Caely said the freeze order was not served on the company, but it only received a notice from one of its banks, according to a report in The Edge Markets.

It also said it did not have any knowledge about the duration of the freeze order.

“The company has communicated with the banks to allow the company to use the monies and requested the reason the accounts are frozen,” it said in a reply to a query from Bursa Malaysia.

“We have requested to unfreeze the accounts, but we have yet to receive any response from the banks. Enquiries with MACC are still in progress.”

Caely said it was unable to make payments to suppliers, banks and any other parties, as well as pay salaries.

The company said it was now exposed to potential lawsuits and claims for breach of contract because it was unable to make such payments.

Caely announced on Monday that an unnamed authority had issued a freeze order on the bank accounts of its group of companies. However, the company said it was unaware of any wrongdoing.

On April 7, Caely announced that it had appointed a forensic auditor to carry out an independent audit on allegations of suspicious and irregular transactions at the company.