KUALA LUMPUR (Sept 19): Loss-making Kuantan Flour Mills Bhd expects to incur an estimated one-time cost of RM1.7 million if its employees succeeded in their claim for retrenchment benefits at the Labour Office. This will further aggravate its prolonged loss situation, said the company which fell under Practice Note 17 (PN17) status on Dec 12, 2015. "However, it will not have any great impact to the company's current operation, which is at very minimal level now," it added in a filing with Bursa Malaysia today. In an earlier filing on Sept 15, Kuantan Flour Mills said the employees envisaged that the future prospects of the company were uncertain and therefore decided to seek retrenchment through the Labour Office. The matter has been fixed for hearing on Sept 23.

Source: The Edge Markets September 19, 2016 14:48 UTC