This appeared in BT yesterday. Surprised it did not appear in ST or Today or in Singapolitics. Yaacob, Lawrence, PM: rather than CoCs for netizens, juz make sure SPH and MediaCorp editors earn their thirty pieces of silver ++, by printing independent “validation” of PAP Hard Truths.
M’sia’s minimum wage law may result in food inflation
Another consequence is higher outflow of money
… Food inflation and the outflow of money are the likely consequences of the implementation of the minimum wage law, which came into force four weeks ago.
From Jan 1, employers must pay a minimum wage of RM900 (S$366) a month in Peninsular Malaysia and RM800 a month in Sabah, Sarawak and Labuan.
In an interview with Malaysia’s Business Times recently, Malaysia Employers Federation (MEF) executive director Shamsuddin Bardan estimated that foreign workers, on average, send back some RM700 each month, which is half of their take-home pay, including overtime claims.
“With a conservative estimate of two million foreign workers here, that works out to be RM1.4 billion flowing out of Malaysia to their home countries every month …