Malaysia's First Catering Supply Company Has Assets Seized Over Social Security Debt

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BUSINESS News

MALAYSIA,COMPANY,ASSET SEIZURE

A Malaysian catering supply company faces asset seizure after failing to pay its Social Security Organisation (Perkeso) contributions. This marks the first instance of an employer in Malaysia having assets seized for this reason.

A catering supply company in Malaysia became the first employer to have its assets seized for failing to pay Social Security Organisation (Perkeso) contributions. The company owed RM19,765.20. Selangor Perkeso director Ismail Abi Hashim said the action was taken after a Melevi warrant was issued by the court following a motion by Perkeso. The company had failed to settle the arrears despite being given six instalments to do so. Today's seizure included assets estimated to be about RM20,000.

The company has been given seven days to settle its Perkeso arrears before the auction date of January 13, 2025

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