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singapore
Dhunseri Ventures Limited, which is part of the Kolkata-based Dhunseri Group, bought Twelve Cupcakes from artiste Jaime Teo and former radio DJ Daniel Ong, in 2016.
PHOTO: The Straits Times
PUBLISHED ON April 01, 2026 9:01 AM BY Sharon Salim
When homegrown confectionary chain Twelve Cupcakes abruptly shuttered its 20 outlets on Oct 29, 2025, workers were left in the lurch without being paid.
After waiting for five months, these 80 workers are about to receive half of their owed salaries for October 2025.
A statement by the Food, Drinks and Allied Workers Union (FDAWU) issued close to 11pm on March 31 said that affected workers will begin receiving a "portion of their unpaid salaries".
The union did not spell out the portion, but the liquidator appointed by the court to wind down the business told The Straits Times that workers will receive half of their owed salaries.
"We are paying 50 per cent of the admitted (salary) claim" based on priority of payments under the Insolvency, Restructuring and Dissolution Act, said Ms Yessica Budiman from AAG Corporate Advisory in a text message, referring to workers' claims for owed wages.
AAG Corporate Advisory is the liquidator appointed to oversee the winding down of Twelve Cupcakes.
In a separate statement issued just past midnight on March 31, the Ministry of Manpower (MOM) said that it has issued a stern warning to Twelve Cupcakes for the non-payment of salaries to 80 workers.
MOM said that its investigations revealed that Dhunseri Ventures Limited, the parent company of Twelve Cupcakes, had placed the company into liquidation on Oct 29, 2025 "after determining it could not meet its obligations on a sustainable basis due to an acute cash-flow shortfall".
"MOM assessed that this was a case of genuine business closure arising from severe financial distress, rather than a deliberate attempt to evade salary obligations," it said in the statement. "MOM therefore determined that a stern warning was the appropriate enforcement action in this case."
Dhunseri Ventures Limited, which is part of the Kolkata-based Dhunseri Group, bought Twelve Cupcakes from entertainment artiste Jaime Teo and her then husband, former radio DJ Daniel Ong, in 2016. The couple started the bakery chain in 2011.
ST understands that the liquidator has on March 31 contacted the workers via email to confirm their bank account details, so that the salaries and overtime pay can be paid.
The FDAWU added: "Salary payouts are being made under the liquidation process and are subject to adjudication, including the verification of claims and the availability of funds. Any further developments will depend on the progress of the liquidation process."
The liquidator has informed the majority of affected members of the amount payable to them, the union said, while the remaining members are still in the process of receiving their notice of payment.
The union added that it has been assisting affected members particularly on matters relating to unpaid salaries and navigating the liquidation process. "This included helping members understand and complete required documentation, filing proofs of debt with the liquidator, addressing queries on tax and procedural matters, and following up regularly on the progress of payouts."
It has also provided financial assistance, including grocery vouchers, worth more than $9,000 to affected workers.
Ms Budiman said she is liaising with Inland Revenue Authority of Singapore (IRAS) on tax clearance matters. According to the IRAS website, salary in lieu of notice or "notice pay" paid by employer to employee to compensate for early termination is taxable.
AAG Corporate Advisory held a virtual meeting on Nov 24, 2025 with creditors, discussing unpaid salaries and the company's financial situation. The corporate advisory firm revealed then that close to 100 creditors were owed slightly over $1 million.
Since then, more creditors have come forward to file proofs of debt and are still in the process of filing them, Ms Budiman said on March 31. "We have not tabulated the figures as they change daily with new claims being filed. We are currently prioritising payments to employees."
Due to insufficient funds for distribution, the liquidator has not invited unsecured creditors, including suppliers and customers, to submit their claims, and is "unlikely" to set a submission deadline.
A notice in the Government Gazette published on Feb 25 stated the deadline for creditors including former employees to file their proof of debt as March 11.
In documents seen by ST in November 2025, the highest amount is owed to Tee Yih Jia Food Manufacturing at about $196,000, while others included baking supplies provider Phoon Huat, market expansion services firm DKSH Singapore and packaging company Skypac Packaging.
singapore
Twelve Cupcakes workers to receive half of owed salary; MOM issues stern warning against employer
Dhunseri Ventures Limited, which is part of the Kolkata-based Dhunseri Group, bought Twelve Cupcakes from artiste Jaime Teo and former radio DJ Daniel Ong, in 2016.
PHOTO: The Straits Times
PUBLISHED ON April 01, 2026 9:01 AM BY Sharon Salim
When homegrown confectionary chain Twelve Cupcakes abruptly shuttered its 20 outlets on Oct 29, 2025, workers were left in the lurch without being paid.
After waiting for five months, these 80 workers are about to receive half of their owed salaries for October 2025.
A statement by the Food, Drinks and Allied Workers Union (FDAWU) issued close to 11pm on March 31 said that affected workers will begin receiving a "portion of their unpaid salaries".
The union did not spell out the portion, but the liquidator appointed by the court to wind down the business told The Straits Times that workers will receive half of their owed salaries.
"We are paying 50 per cent of the admitted (salary) claim" based on priority of payments under the Insolvency, Restructuring and Dissolution Act, said Ms Yessica Budiman from AAG Corporate Advisory in a text message, referring to workers' claims for owed wages.
AAG Corporate Advisory is the liquidator appointed to oversee the winding down of Twelve Cupcakes.
In a separate statement issued just past midnight on March 31, the Ministry of Manpower (MOM) said that it has issued a stern warning to Twelve Cupcakes for the non-payment of salaries to 80 workers.
MOM said that its investigations revealed that Dhunseri Ventures Limited, the parent company of Twelve Cupcakes, had placed the company into liquidation on Oct 29, 2025 "after determining it could not meet its obligations on a sustainable basis due to an acute cash-flow shortfall".
"MOM assessed that this was a case of genuine business closure arising from severe financial distress, rather than a deliberate attempt to evade salary obligations," it said in the statement. "MOM therefore determined that a stern warning was the appropriate enforcement action in this case."
Dhunseri Ventures Limited, which is part of the Kolkata-based Dhunseri Group, bought Twelve Cupcakes from entertainment artiste Jaime Teo and her then husband, former radio DJ Daniel Ong, in 2016. The couple started the bakery chain in 2011.
ST understands that the liquidator has on March 31 contacted the workers via email to confirm their bank account details, so that the salaries and overtime pay can be paid.
The FDAWU added: "Salary payouts are being made under the liquidation process and are subject to adjudication, including the verification of claims and the availability of funds. Any further developments will depend on the progress of the liquidation process."
The liquidator has informed the majority of affected members of the amount payable to them, the union said, while the remaining members are still in the process of receiving their notice of payment.
The union added that it has been assisting affected members particularly on matters relating to unpaid salaries and navigating the liquidation process. "This included helping members understand and complete required documentation, filing proofs of debt with the liquidator, addressing queries on tax and procedural matters, and following up regularly on the progress of payouts."
It has also provided financial assistance, including grocery vouchers, worth more than $9,000 to affected workers.
Ms Budiman said she is liaising with Inland Revenue Authority of Singapore (IRAS) on tax clearance matters. According to the IRAS website, salary in lieu of notice or "notice pay" paid by employer to employee to compensate for early termination is taxable.
AAG Corporate Advisory held a virtual meeting on Nov 24, 2025 with creditors, discussing unpaid salaries and the company's financial situation. The corporate advisory firm revealed then that close to 100 creditors were owed slightly over $1 million.
Since then, more creditors have come forward to file proofs of debt and are still in the process of filing them, Ms Budiman said on March 31. "We have not tabulated the figures as they change daily with new claims being filed. We are currently prioritising payments to employees."
Due to insufficient funds for distribution, the liquidator has not invited unsecured creditors, including suppliers and customers, to submit their claims, and is "unlikely" to set a submission deadline.
A notice in the Government Gazette published on Feb 25 stated the deadline for creditors including former employees to file their proof of debt as March 11.
In documents seen by ST in November 2025, the highest amount is owed to Tee Yih Jia Food Manufacturing at about $196,000, while others included baking supplies provider Phoon Huat, market expansion services firm DKSH Singapore and packaging company Skypac Packaging.
