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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Mandatory Provident Fund Schemes Authority (MPFA) today (September 20) obtained an order for payment of outstanding MPF contributions at about $65,000 against one employer in the District Court.
The District Court today issued a judgment against an employer, namely, Cotex International Communication Products Limited. The defendant was ordered to pay the MPFA the sum of $64,750, being mandatory contributions in arrears and surcharges payable to four employees of the defendant.
The District Court also ordered the defendant to pay the MPFA the sum of $5,000 being financial penalty imposed by the MPFA for failure to make MPF contributions for its employees.
The amount awarded will be reimbursed to the employees' MPF accounts as soon as it is received by the MPFA. The District Court further ordered the defendant to pay cost of $930.
Ends/Thursday, September 20, 2007
Issued at HKT 17:00
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