Daily HR News 6.11.2024
The Malaysian government’s decision to introduce mandatory EPF contributions for foreign workers aims to reduce the nation's reliance on foreign labour and promote fairness in the local job market. Finance Minister Datuk Seri Amir Hamzah Azizan highlighted that this policy would help balance foreign and local worker treatment, improve foreign workers' welfare, and ensure sustainable economic growth. The implementation will be phased, with details to be announced in 2025.
A growing number of data centres in Malaysia are driving job creation and economic growth, but their environmental impact raises concerns. These facilities require massive energy consumption and water usage, contributing to sustainability challenges. While they offer tech-related employment opportunities, experts warn that balancing economic benefits with environmental responsibility is crucial for the country's long-term development.
Source: https://restofworld.org/2024/malaysia-data-center-jobs-environment/
IOI Corporation Bhd reports minimal impact from Malaysia's recent minimum wage increase. The company believes the wage hike will not significantly affect its operations, as most of its workforce already earns above the new minimum rate. IOI's strong operational efficiency and ability to absorb costs are expected to mitigate any potential financial strain from the policy change.
Source: https://www.thestar.com.my/business/business-news/2024/11/06/ioi-low-impact-from-minimum-wage-hike