Unless otherwise defined, the definitions used in this announcement shall have the same meanings as previously defined in the earlier announcements made on 7 June 2022, 10 June 2022, 24 June 2022, 20 July 2022, 26 July 2022 and 21 September 2022 in respect of the writ of summon and statement of claim filed by KWSP against CASB and its Directors.

The Board of Directors of JCB wishes to announce that the Company’s solicitors, Messrs Vanaja, Allison & Jee had on 3 July 2023 notified the Company that CASB received a sealed judgement dated 29 May 2023, the Court has given the following directions:

The Defendants paid jointly and severally to the Plaintiff:

1.        Outstanding contribution balance for the period January 2020 to April 2021 amounting to RM1,710,869.00 (as of 18 April 2022) with:-

(i) Statutory dividend on part of late paid contributions amounting to RM12,604.00 and subsequent statutory dividend on the amount of outstanding contributions at the rate:-

(a)      4.90% per annum calculated from 1 February 2020 until 31 December 2020;

(b)      5.65% per annum calculated from 1 January 2021 until 31 December 2021;  and

(c)      the subsequent statutory dividends at such rate and in such manner and calculation as the Plaintiff may determine in accordance with Section 45(3) of the EPF Act 1991 until full settlement.

(ii) Statutory late payment charge on part of the late paid contributions amounting to RM15,110.00 and subsequent statutory late payment charges on the remaining amount of outstanding contributions at the rate:-

(a)      5.90% per annum calculated from 16 January 2020 until 31 December 2020;

(b)      6.65% per annum calculated from 1 January 2021 until 31 December 2021; and

(c)      the next statutory late payment charge to be credited to the Plaintiff on that amount at any rate and in any manner and calculation determined by the Plaintiff in accordance with Section 49 of the EPF Act 1991 until full settlement.

2.           Total cost of RM2,500.00.

This announcement is dated 4 July 2023.