Five subsidiaries of Singapore-listed beauty and wellness group Mary Chia Holdings faced renewed scrutiny after the State Courts heard on October 8 that they had a combined S$152,932 in outstanding Central Provident Fund (CPF) contributions.
The companies had collectively owed more than S$182,600 before making payments totalling S$29,742 on October 7, according to the court proceedings reported by The Straits Times. All five cases were adjourned to November 12.
The outstanding amounts are subject to reconciliation, however. In a subsequent filing, Mary Chia Holdings said it had asked the CPF Board to confirm the actual balances after accounting for payments already made.
The cases add to the challenges facing the group as it works to address payroll compliance issues while navigating separate financing disputes and efforts to strengthen its financial position.
Which Mary Chia Companies Owe the Most?
The five wholly owned subsidiaries named in the proceedings are:
- Mary Chia Beauty & Slimming Specialist: S$61,594 outstanding after a S$3,827 payment.
- Spa Menu: S$33,092 outstanding after a S$4,472 payment.
- Organica International Holdings: S$31,253 outstanding after a S$9,446 payment.
- Masego: Approximately S$14,828 outstanding after a S$6,918 payment.
- Urban Homme Face and Body Studio for Men: S$12,165 outstanding after a S$5,079 payment.
Mary Chia Holdings chief executive and executive chairman Ho Yow Ping is a director of all five companies.
A CPF Board representative told the court that a formal instalment plan would be considered only after the companies had made payments for a certain number of months. The representative did not specify the required period.
Company Attributes Arrears to Administrative Lapses
Mary Chia Holdings said it began reviewing CPF records after receiving employee feedback around September 2025 about possible omissions involving variable-income components.
The company subsequently identified similar discrepancies in some subsidiaries and submitted rectification reports to the CPF Board. It attributed the unpaid contributions to administrative lapses rather than an inability to pay.
The group has said its subsidiaries have been making progressive payments under schedules communicated by the CPF Board since June.
In an October 9 filing, it also disclosed that about S$12,570 in CPF contributions for September remained outstanding across three subsidiaries, with payment due by October 15.
The company said it intended to propose an instalment arrangement for the remaining arrears after paying those September contributions.
The reported S$152,932 balance does not yet represent a final reconciled figure, and the company said the amount excludes late-payment interest and composition sums.
CPF Case Comes Amid Wider Financial and Legal Challenges
The CPF proceedings are unfolding alongside a separate dispute with corporate lender Fullink Capital.
Fullink has pursued insolvency applications involving Mary Chia Holdings and its subsidiary Organica International Holdings, as well as bankruptcy applications involving Ho and former group chief financial officer Su Ju Ming.
On September 30, the High Court stayed the insolvency proceedings pending the transfer of S$651,498.97 into court as security. Mary Chia said the funds were with its solicitors and maintained that providing the security did not amount to an admission of liability over the disputed claims.
The court’s order concerns the separate lender dispute and should not be confused with the CPF proceedings.
Mary Chia Plans S$1 Million Share Fundraising
Mary Chia Holdings has also proposed raising S$1 million through the issue of 100 million new shares at S$0.01 each to four investors, including founder Mary Chia Ah Tow. The proposal remains subject to shareholder approval.
The group expects net proceeds of about S$946,570. It plans to allocate approximately S$750,000 to working capital, including manpower and administrative expenses, and S$196,570 to expansion into China and Thailand.
The proposed fundraising comes against a difficult financial backdrop. For the financial year ended March 31, the group reported a net loss of S$2.64 million. Its auditor issued a disclaimer of opinion after being unable to obtain sufficient evidence to verify several areas of its financial statements, including staff costs, borrowings, revenue and the group’s ability to continue as a going concern.
These financial issues do not determine the outcome of the CPF cases, but they add context to the company’s efforts to settle outstanding obligations and secure additional funding.
What Happens Next?
The five CPF cases are scheduled to return to the State Courts on November 12, 2026. The next developments will include the reconciliation of outstanding balances, further payments and whether the CPF Board will consider a formal instalment arrangement.
For employees, the key issue is whether the outstanding statutory contributions are fully settled. For investors, the cases form part of a broader picture that includes the separate lender dispute, the proposed share issue and the company’s reported financial position.
The Bottom Line
Five Mary Chia subsidiaries were reported to owe S$152,932 in CPF contributions when their cases were heard on October 8. The companies have made partial payments and say they are working with the CPF Board, but the balances remain subject to reconciliation. With the court cases adjourned to November 12 and other financial matters still unfolding, the next updates will be important for assessing the group’s progress.
Editorial note: This article distinguishes the court-reported CPF arrears from the company’s subsequent clarification that the balances require reconciliation. The CPF cases and the separate Fullink Capital dispute are different legal matters; neither should be presented as having a final outcome unless confirmed by the relevant authorities or court.
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