Perbadanan Usahawan Nasional Berhad (PUNB) has told ex-employees of a company it invested in that went belly up, to seek out the Insolvency Department if they want to pursue their compensation claims.

"After Qarira Packaging (M) Sdn Bhd was wound-up, all affairs pertaining to any claims and payment of compensation to company ex-employees must be made to the Insolvency Department, as per existing legal provisions" it said.

The government-linked company (GLC) was responding to a plea by the former workers to postpone their own claims of debts owed to them by the now defunct company, to allow funds from a recent asset liquidation to be used to pay outstanding compensation to them.

PUNB also explained that its investment in the company was via loans and subscription of traded ordinary shares and it has no involvement whatsoever in the day-to-day running of the company, which rests in the hands of its directors and the entrepreneur running the business.

PUNB said that it forwarded its debtor’s claim to the Insolvency Department after Qarira was wound-up by a third party and still has not received any money from the recent liquidation of assets by the defunct firm as the funds are still with the department.

Several former Qarira employees are also seeking for the remainder of their compensation payment, awarded to them by the Johor Baru High Court after they were terminated when the company was wound up.

They have only received less than half of the amount received and hoped that their claim will be settled after the recent asset liquidation by Qarira.