Posted by ks55 > 2024-08-17 12:26 | Report Abuse

That is the easiest way to come out from Middle Income Trap. Everyone get higher salary, everything increase in price, GDP shoots through 10% growth rate, GDP per capita go up to USD 20k. Everyone is happy. Property developers with large land bank lagi happy. Can sell houses for higher price. Bank also very happy. Can loan out more to the same person when his pay becoming higher. Car dealers are happy. They can sell more cars now.

Posted by Sslee > 2024-08-17 13:17 | Report Abuse

Did government leaders know why many big business from Malaysia are actually moving their business out of Malaysia.

Our Government actually treat foreign investment better than our own business owned by non-bumiputra when it come to business expansion.

Posted by Sslee > 2024-08-17 13:25 | Report Abuse

Insas already sold 100 million M&A shares at below market price to Bumiputra investor and now still need time extension to comply with the Bumiputera Equity Condition.

Description M & A EQUITY HOLDINGS BERHAD ("MAEH" OR "COMPANY")

(I) DISPOSALS;
(II) SPECIAL DIVIDEND AND/OR CAPITAL REPAYMENT;
(III) ACQUISITION;
(IV) RIGHTS ISSUE;
(V)RESTRICTED ISSUE;
(VI) EXEMPTION; AND
(VII) CHANGE OF NAME

(COLLECTIVELY, THE "PROPOSALS")
(Unless stated otherwise, definitions used in this announcement shall carry the same meaning as defined in the announcement dated 15 May 2024 (“Announcement”).)

We refer to the Announcement in relation to the proposals to comply with the Bumiputera Equity Condition.

On behalf of the Board, Malacca Securities is pleased to announce that the SC had, vide its letter dated 24 July 2024, resolved to grant the Company an extension of time until 30 September 2024 to comply with the Bumiputera Equity Condition. The Bumiputera Equity Condition was imposed pursuant to the Proposals, as contained in the SC’s decision letter dated 14 December 2022.


This announcement is dated 24 July 2024.

Posted by speakup > 2024-08-17 15:42 | Report Abuse

Now u know why Insas boss don't want push up Insas? For what? Just to benefit those who take handouts? No way

Posted by KH6996 > 2024-08-17 16:11 | Report Abuse

Most of the private sector are already paying well above RM2,000 as it is hard to get talented staff. An accounting graduate going to any of the big 4 audit firms is already offered starting pay of RM4,000pm. There is no point for the Minister to "force" private sector to increase the minimum salary as market forces will dictate the salaries and companies will always pay more to hire talented and important staff. Let it be a free market in the private sector, we dont have places for deadwoods.

Posted by GreatDreamer > 2024-08-17 18:23 | Report Abuse

Govt can afford civil servant pay hike bcos its ability to borrow money every year. Private co can't borrow forever. Only profit can afford pay hike.

Posted by Sslee > 2024-08-17 20:27 | Report Abuse

Govt can afford pay hike not correspond to productivity increase. But businese can't you either be more efficient and more cost effective or you will be kicked out by market force due to your uncompetative product pricing.

Posted by qqq47660 > 2024-08-17 20:45 | Report Abuse

An accounting graduate going to any of the big 4 audit firms is already offered starting pay of RM4,000pm.=======

it is hoped they can show the lead.