KUALA LUMPUR, April 25 -- Padini Holdings Berhad has clarified that the recent freezing of its bank accounts by the Malaysian Anti-Corruption Commission (MACC) is related to an investigation involving its "external counterparties," and not the company or its management.

In a statement today, the fashion retailer sought to reassure the market, saying that it is not aware of any wrongdoing on its part and believes the freezing order is a procedural step in the MACC's ongoing probe.

The statement follows Padini's official filing with Bursa Malaysia yesterday, which first confirmed that several of its bank accounts had been frozen under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA)....