{
  "id": 12837932,
  "title": "5 Mary Chia companies owe close to $153,000 in CPF arrears",
  "url": "https://urgent.news/2026/10/08/5-mary-chia-companies-owe-close-to-153-000-in-cpf-arrears",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-08T09:25:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/5-mary-chia-companies-owe-close-to-153000-in-cpf-arrears"
  },
  "original_language": "en",
  "account": "Five companies linked to the financially-struggling beauty and wellness conglomerate Mary Chia Holdings collectively owe nearly $153,000 in overdue Central Provident Fund (CPF) payments, according to State Courts on October 8. These subsidiaries - Mary Chia Beauty & Slimming Specialist, Masego, Organica International Holdings, Spa Menu, and Urban Homme Face and Body Studio for Men - owe a total of over $182,600, but had already paid $29,742 to reduce their debt. Mary Chia Beauty & Slimming Specialist, the largest debtor, owes $61,594 after paying $3,827, while Spa Menu owes $33,092 following a $4,472 payment. Organica owes $31,253 after paying $9,446 and Masego owes $14,828 after a $6,918 payment. Urban Homme Face and Body Studio for Men owes $12,165 after a $5,079 payment. A CPF Board official suggested the companies would only be eligible for a formal installment payment plan after making consistent payments for several months. Mary Chia Holdings' CEO Ho Yow Ping is a director of all five entities. The company discovered the arrears after receiving feedback from employees about potential omissions related to variable-income components in September 2025. The disclosure led to a dispute with Evolve Capital Advisory over the disclosure of proceedings to investors. The group also faces a dispute with Fullink Capital over a $350,000 loan to Organica, with Fullink seeking insolvency proceedings against Mary Chia Holdings and Organica. Mary Chia Holdings plans to raise $1 million by issuing new shares in a proposed share issue, with the funds intended to support overseas expansion. The company filed for financial statements with a disclaimer of opinion due to unverified areas such as staff costs and revenue.",
  "summary": "The wholly-owned subsidiaries collectively owed over $182,600, but made payments totalling $29,742 on Oct 7.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}