ERDASAN GROUP BERHAD
KLSE (MYR): ERDASAN (0072)
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
khairibin44
13 posts
Posted by khairibin44 > 2022-04-04 10:49 | Report Abuse
Margma expects new min wage to raise costs by up to 2.75%
Meanwhile, there are a total of 162 factories with 2,520 installed production lines and an installed production capacity at 370 billion pieces a year, according to Chan.
This comprises Margma’s 75 ordinary members as at January this year, with them operating 75% and above in terms of utilisation rate.
According to Chan, the association’s members are currently focused on remediation fees to free foreign workers from debts, upgrading hostels for their employees, as well as the minimum wage to improve the lives of workers.
“Margma members are supportive of the RM1,500 minimum wage announced by the government.
“The increase of minimum wage from RM1,200 to RM1,500 is a significant increase of 25% over the current minimum wage.
“MARGMA estimates that the 25% increase in minimum wage will result in an overall increase in production costs between 1.42% to 2.75% depending on the profile of the workers in each respective factory,” he said.