Business · Singapore Bureau
mm2 Asia owes $213,000 in CPF arrears, claims no funds available
The entertainment company and its subsidiary face mounting Central Provident Fund obligations to Singapore workers. A company representative told authorities the firm lacks resources to settle the debt.
LSN Singapore ·
mm2 Asia and its subsidiary are facing a significant Central Provident Fund (CPF) arrears issue, with outstanding obligations totalling $213,000 owed to workers' retirement accounts. The company, which formerly operated Cathay cinema operations, has become the subject of regulatory scrutiny over the unpaid contributions. When questioned about its capacity to resolve the arrears, a company representative stated the firm had "no money" available for payment, raising concerns about its financial viability. The CPF arrears suggest the company has failed to make mandatory employer contributions on behalf of its employees over a period of time. The situation underscores ongoing challenges in the entertainment and cinema sector, which has faced significant headwinds in recent years. Authorities are expected to pursue collection of the outstanding amounts owed to affected workers.