EPF sues Ikhmas Jaya unit over payment arrears

KUALA LUMPUR (April 14): The Employees Provident Fund (EPF) is suing a subsidiary of Ikhmas Jaya Group Bhd to recover RM2.08 million in unpaid contributions.

In a filing with Bursa Malaysia yesterday, Ikhmas Jaya said the suit against Ikhmas Jaya Sdn Bhd was in respect of arrears from January to March 2019 and from May to July 2019.

On top of that, EPF is claiming dividend and late payment charges, said the group.

Ikhmas Jaya said its board is negotiating with EPF for settlement via instalments.

However, it said the claim is not anticipated to have any significant financial and operational impact on its results for the financial year ending Dec 31, 2020, as the amount has been accrued for in the financial statements.

Ikhmas Jaya’s share price settled unchanged at 3.5 sen yesterday, giving the group a market capitalisation of RM20.6 million. Some 3.07 million shares were traded.

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