Mary Chia Beauty & Slimming Specialist appeared in the State Courts on September 10 to address outstanding Central Provident Fund (CPF) contributions amounting to S$50,208. The company made a partial payment of S$11,291 the day prior, and a company representative informed the court that a payment plan had been arranged with the CPF Board. Under the plan, Mary Chia would make the current payment and settle one month of arrears per installment. With the arrangement acknowledged, the court adjourned the matter to October 8.
Established in May 1994, Mary Chia Beauty & Slimming Specialist operates several salons offering beauty and wellness services, including slimming treatments. The company is a wholly owned subsidiary of Mary Chia Holdings, a group that has been facing significant financial and legal difficulties.
Mary Chia Holdings is currently involved in insolvency proceedings initiated by lender Fullink Capital. In March, Fullink issued a statutory demand for S$902,640, following a loan dispute regarding a S$350,000 loan extended to Mary Chia’s subsidiary, Organica International Holdings. Mary Chia Holdings had acted as guarantor for that loan. Fullink demanded immediate repayment of the full outstanding sum, including late-payment interest and additional fees under the loan and settlement agreements.
Mary Chia Holdings has challenged some of these additional charges, particularly late-payment fees, default interest, and restructuring fees, arguing that they may be excessive and unenforceable. Despite this, Fullink proceeded with insolvency proceedings against Mary Chia Holdings, its chief financial officer Su Jun Ming, director Ho Yow Ping, and Organica International Holdings.
In response, Mary Chia Holdings stated in July that it had paid Fullink S$343,829, representing undisputed debts, along with S$14,000 in court-ordered costs. However, the company continues to contest the remaining S$558,811 claimed by the lender. At a hearing on July 17, Mary Chia and its related parties requested a stay on the insolvency proceedings pending the court’s ruling on their challenge to the disputed charges. Instead, the High Court stayed the legal challenge itself until the insolvency proceedings conclude.
In a response to inquiries by Singapore Exchange Regulation in May, Mary Chia’s board indicated that the group could continue operations and meet its financial commitments even if Fullink’s claims were upheld in full, with additional support from controlling shareholders if necessary. Meanwhile, the company and its subsidiaries remain under close scrutiny as they navigate their ongoing financial and legal challenges.