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MEF: RM1,500 new minimum wage would derail economic recovery
savemalaysia
Publish date: Sun, 06 Feb 2022, 02:07 PM
KUALA LUMPUR, Feb 6 — The Malaysian Employers Federation (MEF) reiterated that now is not the right time to increase the cost of doing business and the proposed RM1,500 new minimum wage implementation would derail economic recovery.
President Datuk Syed Hussain Syed Husman said the majority of Malaysian businesses are not ready and not in a position to implement the proposed new minimum wage as they are still reeling from the economic shock brought about by Covid-19 and the devastating impact of the recent major floods.
“More efforts should be directed towards business recovery in the private sector and controlling the rising cost of products and services. We must remember that most Malaysian businesses are micro, small and medium enterprises (MSMEs), whereby 98.9 per cent are in this group.
“So, when we talk about wages and cost, we must think of their survival and sustainability,” he said in a statement today.
Syed Hussain said the MSMEs were already suffering and even a small increase in business cost would aggravate their plight and they might close down, what more with an increase of RM300/400 per month on top of the existing national minimum wage.
“The RM1,500 minimum wage will push up the cost of goods and services and operation costs will definitely increase. This is not the time to implement any increase in minimum wage.
“The RM1,500 minimum wage would mostly go to foreign labour as the locals are already paid higher wages than this, and the outflow of money will further increase.”
An employee whose current wages are well above the minimum wage could be demotivated with no salary adjustment, he said.
“Any increase in minimum wage will benefit employees whose wages are lower than the new national minimum wage rate and the bulk of them will be the foreign workers,” added Syed Hussain. — Bernama
https://www.malaymail.com/news/malaysia/2022/02/06/mef-rm1500-new-minimum-wage-would-derail-economic-recovery/2039761
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Discussions
Be the first to like this. Showing 28 of 28 comments
How could by fixing minimun salary flushing out toxic ?
You tell me... hahahaha
2022-02-06 15:49
It gets rid of rentseekers and promotes healthy business environment with genuine employers. Improving domestic consumption by employing locals and reducing outflow will boost economy.
The current bunch of employers are leeches and prey on foreign workers.
Their constant age old excuse that Malaysians are lazy is exposing their ruse.
Besides, Malaysia is regressing in the region. There is no skilled workers because almost all are from foreign countries.
2022-02-06 16:50
Little Dicky socialist from you answer shown that you don't understand how economy works. Most of all you don't know any clue or idea about Malaysia economy.
Hahaha....
In order to guide you, please answer my following Question:
1.How does the rising minimum wage to RM2800 will rise up genuine employers? Why do you think that the not genuine employers will just close factory & walk away. What do you means by genuine employers?
2. How will its improving domestic consumption by employing locals as Malaysia don't have the population size to replace the foreign workers?
3. How Malaysia with a more than 100% jump in wages which resulted in increased in cost of products going to compete in international markets?
4. How about inflation?
5. Hahaha rising minimum wages will gets rid of rentseekers ? How ?
》》》》》》》》》》》》》》
Posted by DickyMe > Feb 6, 2022 4:50 PM | Report Abuse
It gets rid of rentseekers and promotes healthy business environment with genuine employers. Improving domestic consumption by employing locals and reducing outflow will boost economy.
The current bunch of employers are leeches and prey on foreign workers.
Their constant age old excuse that Malaysians are lazy is exposing their ruse.
Besides, Malaysia is regressing in the region. There is no skilled workers because almost all are from foreign countries
2022-02-06 22:20
usually, employers would like to transfer their workers EPF & Socso account A company to B company due to earning very high so that LHDN wouldn't knews it.
2022-02-07 09:37
I say 2k should be minimum salary! Provided government bring back 6 working days! For goodness sake, do you know how much our poor malaysians able to save through EPF with only 1.5k salary!
The thing is MEF forever will say not possible for minimum salary yet all of them enjoy fat profit at expense of their workers!
2022-02-07 18:31
Do you realise fresh graduates only get 1.5k basic which was the standard like 20 years ago!
2022-02-07 18:32
More than 20 years ago. Actually it has been stagnant for more than 30 years. When the government created GLCs and circumvented Labour Law, Malaysian workers welfare went to the dustbin.
The influx of foreign workers is created by the Government to serve their GLC linked companies. This loophole is exploited by all private companies and businessmen. The "demography" of working force changed drastically.
Working in a bumiputra or GLC is actually a dead end job.
Salary will be stagnant and you will be overlooked over advancement.
In fact, working in a Bumi or GLC always creates an anxiety of retrenchment. How to think about advancement? No vision.
2022-02-07 18:41
Story of derail economy recovery after increasing minimum wage to 1.5k basic is absolutely nonsense. Using the nonsense excuses keeps exploiting Malaysia workers. Malaysian workers wage has not been able to catch up with the neighbours in the last 20 years.
2022-02-07 20:10
There are few levels of workers in the factory. Bangladesh can be working as a supervisor. Supervisor salary will be much higher than normal workers after including OT.
2022-02-07 21:00
Milton Friedman on Minimum Wage
amagilly
250 subscribers
It is immoral to say that people with low skills are not allowed to work.
Milton Friedman discusses the effects of minimum wage, dispelling the myth that it is a Good Thing.
https://www.youtube.com/watch?v=ca8Z__o52sk
2022-02-07 22:04
Milton Friedman - The Minimum Wage
LibertyPen
195K subscribers
Friedman explains the driving force behind the counter-productive practice of minimum wage.
https://www.youtube.com/watch?v=9ydGXK2RtHM
2022-02-07 22:05
The minimum wage: does it hurt workers? | The Economist
The Economist
2.26M subscribers
Joe Biden has pledged to raise America's national minimum wage to $15 an hour. Economists traditionally believed that minimum wages actually hurt workers, but recent research has led to a rethink.
https://www.youtube.com/watch?v=8H4yp8Fbi-Y
2022-02-07 22:11
Malaysians go to Australia to work as 3D workers! And they are handsomely paid! If we set minimum salary to 3D jobs, you think malaysians don't want to do it!
But we know employers are giving tons of excuses, would rather hire 10 banglas over one malaysian!
This will go on forever! Half of our workers are migrants! The more you hire migrants, the more chances that salary will remain low!
2022-02-07 22:15
Minimum wage is countered productive for a country when the quantum of wage attained comfortable level. Now, Malaysia has imported millions of workers to compete indirectly with the locals is different scenario.
2022-02-07 22:16
Take mamak restaurant to KFC! Do you see as many workers! No! Because mamak shops don't do self service! It's all about human resource management! Do you really need to open whole shop to serve your customers! No! Learn from Singapore! Open hawkers centre, all dishes and cleaning doing centrally!
2022-02-07 22:19
The reason is because, our leaders are imcompetent! Only interested in enriching themselves and cronies! If only Malaysia copy Singapore, i am sure we doing need much foreign workers! And by now minimum salary would be none issue!
2022-02-07 22:20
Tobby
Hawker centres cannot do illegal activities coz its too open.
You need to find out why Malaysia needs shops to conduct illegal activities.
Consider this as your homework....
wink wink
at the end of the day criminal activities drives Malaysian lifestyles...
wink wink
2022-02-07 22:32
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DickyMe
It won't derail the economy.
It would push out greedy and useless employers.
2022-02-06 15:35