New Minimum Wage in Malaysia Come 1 May The Malaysian Government will implement a new minimum monthly wage standard in Malaysia. This will commence from 1 May despite the situation. The new minimum wage will be set at Rm1,500. However, some employment sectors will get some leeway to defer the implementation. This includes companies that…
MySDG Foundation to Integrate Coordination of Grants The Malaysia Sustainable Development Goals Foundation, or the MySDG Foundation, was launched on the 27th of January is set to become an integration of grants. According to Datuk Seri Tengku Zafrul Abdul Aziz, he mentioned that stakeholders created numerous funds for various significant causes, including environmental sustainability, wildlife…
2022 National Economic Recovery Is Underway with SSM New Initiatives Announcement SSM (Suruhanjaya Syarikat Malaysia), also known as The Companies Commission of Malaysia, announced several new initiatives that will boost national economic recovery in 2022. SSM announced several new initiatives, as well as the continuation of the existing five initiatives that were introduced in 2021.…
Malaysia’s Finance Minister: GST for the Better? As the Minister of Finance, Zafrul stresses that fiscal reforms are imminent for increasing expenses. The COVID-19 pandemic heavily dampened the government’s revenue; he notes that Malaysia’s direct burden is about to exceed RM1 trillion in 2022. Therefore, requiring more productive debt-paying to sustain the slow economic growth. …
EPF’s Gross Investment Income Up 7.7% In First Nine Months of 2021 Good news for EPF holders in Malaysia as analysts are anticipating that the EPF payments might reach as high as 6%. For the year 2021, economists forecast a larger dividend payout for Employees Provident Fund (EPF) contributors. The dividend for the previous year…
Manufacturers in Malaysia Are Urging Putrajaya to Reinstate GST and Prioritise Economic Recovery Given the weak domestic and external environments caused by Covid-19, priority should be given to strengthening the economy and restoring more favourable business conditions. This is according to the Federation of Malaysian Manufacturers (FMM). This situation is concerning because the debt servicing…
SME Association Against Suggestion to Implement GST in 2022 Malaysia’s SME Association is against the suggestion to implement the Goods and Services Tax (GST) in the year 2022 at the proposed rate of 4%. The Association believes that this will disrupt business operations and affect business recovery costs. While the GST system is better than…
Growing Ecosystems to Attract Investments Remains Aim of Malaysian Government and Its Agencies Creating and growing ecosystems to attract investments are crucial to national growth. The National Fourth Industrial Revolution (4IR) Policy – the latest strategy from the Malaysian Government – is set to drive digitalization. In line with this plan, the Prime Minister’s Department…
Malaysia Creates 320,000 Jobs via PenjanaKerjaya 3.0 The National Employment Council (NEC) rolls out its latest initiative as Malaysia creates 320,000 jobs. The Malaysian Government is pushing new initiatives to ensure that the nation weathers the economic fallout from the global pandemic. The Ministry of Finance (MOF) reports that the National Employment Council (NEC) is…
Final Revisions for Malaysian Sustainable Palm Oil Certification Standards Malaysian Sustainable Palm Oil certification will focus on sustainability requirements and practices. The Malaysian Sustainable Palm Oil (MSPO) certification standards are wrapping up the final revision stage. As a national certification scheme for palm oil, MSPO will introduce new standards and criteria. These specifications feature sustainability…