Survey finds Malaysian workers ‘most dissatisfied’ with pay in Asia
Malaysian employees are the least satisfied with their wages among those polled in Asia, new findings have revealed. The survey by international recruiting agency Hays also found that one of the precipitating factors might be the feeling of disappointment engendered by the lack of a pay raise. “46% of Malaysian employees were dissatisfied or very dissatisfied with their current compensation packages, the highest number to say so in Asia,” the results read. The guide indicated that the dissatisfaction could also be due to high salary expectations among employees, with 27% expecting a wage increment of 3% to 6%, and 25% expecting more than 10% increment. This creates the potential for mismatched salary expectations. Not surprisingly, Malaysia also has the highest number of respondents who are actively seeking a new job, at 52%. However, among those who stay despite no increase in wages, 41% cited work-life balance, 38% favoured salary or benefit packages, followed closely by work location at 37% and management style and company culture at 36%. (Malay Mail)
Mah Sing aims for RM1.6b sales in 2020, launches ‘Easy to Own’ scheme
Mah Sing Group Bhd is targeting to secure RM1.6 billion in sales this year with key focus on affordable homes. Its group managing director Tan Sri Leong Hoy Kum said 84% of its annual sale target will be derived from residential properties below RM700,000. “Our internal survey finds that buyers’ key concerns are mainly on pricing and affordability, location and creative or practical layouts,” Leong said. Its latest sales campaign, ‘Eazy to Own’, covers all Mah Sing’s new and completed residential projects nationwide. The campaign, which starts today, offers homebuyers incentives, savings and easy entry with low upfront costs, among other things. He believes that Malaysia will remain as an attractive destination for retirement and education purposes as well as real estate investments and property-related businesses. He noted that property remains a safe haven investment and serves as a hedge against inflation. (The Edge)
E&O to launch properties worth RM1.3b
Eastern & Oriental Bhd (E&O), which aims to launch properties worth RM1.3 billion in GDV this year, swung back to profit in 3QFY20 with a net profit of RM18.76 million. On prospects, E&O said with the property market remaining subdued, it is expecting slower property sales in the near term from both the local and foreign markets. E&O managing director Kok Tuck Cheong said the company’s sales and marketing efforts are focused on Conlay serviced residences centrally located in Kuala Lumpur City Centre, which has a GDV of RM968 million and is its second JV with Japan’s Mitsui Fudosan Group. Its third JV with Mitsui will see the development of 3.94 acres of land in Damansara Heights, comprising low-rise condominium-villas totalling 54 units with a GDV of RM348 million. The development is slated for launch in the second half of 2020. (The Edge)
Deputy minister: Giving local jobs to Malaysians a priority in 12th Malaysia Plan
Priority for Malaysian workers in fulfilling job opportunities in the country is one of the elements to be reinforced in the National Human Resource Policy (DSMN) and the Twelfth Malaysia Plan (RMK-12). Deputy Human Resources Minister Datuk Mahfuz Omar said that in realising the aspiration, employers should have Malaysia’s interest at heart by giving priority to local workers instead of continuing to claim that they were unwilling or uninterested to work in the sectors in question. He said employers should also pitch in to find solutions to attract the interest of more locals to seek work in the less favorable employment sectors, especially in the 3D sectors, referring to dirty, dangerous, and difficult. (Malay Mail)
Japan’s largest bank invests over US$700m in Grab
Japan’s Mitsubishi UFJ Financial Group Inc. (MUFG) is investing more than $700 million in Southeast Asian ride-hailing giant Grab, gaining access to millions across the region that use the mobile app to book cars and meals. The Japanese financial institution intends to market a range of financial services from insurance to loans to Grab’s users, said a source. Grab, one of several ride-hailing giants backed by SoftBank Group Corp., is trying to build a regional super-app that offers a range of services including finance, payments and rides. The car-hailing giant, which has taken in more than $2.6 billion from SoftBank alone, is on the hunt for more capital as it builds out and markets new services. (The Star Online)
