KUANTAN FLOUR MILLS STAFF CLAIMS MAY COST RM1.7M
PETALING JAYA: Kuantan Flour Mills Bhd estimates a one-time cost of RM1.7 million in retrenchment benefits for its employees should they succeed in their filing to the Kuantan Labour Department. Last Thursday, the company said its employees have sought retrenchment benefits as the company had fallen into Practice Note 17 status since Dec 28, 2015 and its prospects are uncertain. In a filing with Bursa Malaysia yesterday, the company said the claims, if successful, would aggravate the current prolonged loss situation of the company. “However, it will not have any great impact to the company’s current operation which is at very minimal level now,” it said.