KUAN­TAN FLOUR MILLS STAFF CLAIMS MAY COST RM1.7M

The Sun (Malaysia) - - SUNBIZ -

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.

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