Popular local soya bean drink brand Jollibean has been fined $68,000 after it was found to have failed to pay more than $210,000 in Central Provident Fund (CPF) contributions owed to at least 16 employees.
On Wednesday (Sep 24), a company representative admitted to 34 charges under the CPF Act. The charges revealed that between late 2024 and early 2025, Jollibean did not make CPF payments that were due to its staff.
In court, the representative explained that the company had lined up an investor who was prepared to buy over the brand, which would have allowed it to settle the arrears. However, after the case was reported in the media, the investor backed out, leaving the company unable to make payment.
The representative added that the judge had previously made it clear that the case could not be delayed any further. As a result, the company had no choice but to plead guilty and would later work with the CPF Board on repayment.
He also shared that Jollibean is currently in discussions with another potential buyer. If the deal goes through, the company expects to use the funds to clear the outstanding CPF contributions. The transaction is targeted for completion next month.
The prosecution highlighted that this was not Jollibean’s first offence.
In November 1998, the company had already been fined $1,200 for a similar case. For the current offences, no repayments have been received from Jollibean to date.
Each charge carried a fine ranging from $2,000 to $10,000. The final sentencing amount was left to the court’s discretion.
During mitigation, the representative said the company was struggling financially and its top priority was to repay CPF contributions and salaries owed to its staff. He urged the court not to impose too heavy a fine, as it would not help the situation.
The court later revealed that the total amount of CPF contributions owed by Jollibean stood at $212,295. The judge eventually fined the company $68,000 and ordered payment to be made by October 22.
