The Mandatory Provident Fund Schemes Authority has decided not to file a winding-up petition to the High Court against Sing Pao newspaper after receiving $4.9 million in defaulted MPF contributions from the company.

The sum included the $4.2 million in defaulted contributions involved in the current winding-up procedure and $700,000 in MPF contributions in arrears for the October-December contribution period last year.

The authority obtained in the District Court today an order for paying outstanding MPF contributions at about $118,960 against Soonbase Industrial, being mandatory contributions in arrears and surcharges payable to its eight employees.

The amount awarded will be reimbursed to the employees' MPF accounts. The court also ordered the defendant to pay costs of $930.