Bonus payments stay steady in Malaysia, average fixed bonuses at 1.6 months

Kuala Lumpur: With the national economy showing signs of recovery amid the overall positive trade outlook globally, Malaysian employers are expected to maintain bonus levels this year at same rate as 2013.

When variable bonus payments pop up in staff accounts from later this week, Hay Group`s “Market Remuneration Report for Malaysia” found that top achievers can look forward to getting an average of four months of basic salary and more.

“The biggest beneficiaries are staff at major equity investment bodies as returns were strong last year,” said Hay Group Malaysia country head for productivity services Alex Lim in a statement.

Hay Group Malaysia is part of global organisation that provides management consultancy services and world-class solutions to business issues that support clients` efforts translate strategies into results.

 

Source: The Borneo Post, Business, page B1

Full implementation of minimum wage policy in January 2014 may drive up cost of food, drinks further

14/11/2013, Sibu: The price of drinks here has increased by between 20 and 50 sen after the government removed the sugar subsidy recently.

Some foods that are not related to the sugarsubsidy also cost more now. But Sibu Coffee Shop and Restaurant Owners Association chairman Tong Ing Kok cautioned that an uglier nightmare might arise in less than two months` time.

This is because the workers` minimum wage policy will be fully implemented by the government in January 2014, and this would translate to higher cost in doing business as it would drive up rental, commodity, water and electricity charges, fuel and transportation costs, among others.

Year End 2013

What RM1,000, RM5,000, RM10,000 and RM50,000 can do for you?

Asap residents sue government for interest of delayed compensation

13/11/2013, Sibu: Residents of the longhouses at the Asap resettlement scheme in Bakun are suing the state government for failing to pay their annual interest of the full compensation for the loss of their longhouses.

According to spokesperson of one of the longhouses , Ujang Bengo, the folks of the longhouses in Bakun were required to vacate or abandon their houses to make way for the Bakun Hydroelectric Project (HEP) in 1998.

“In September 1998, we accordingly vacated our longhouses to settle at Bakun Resettlement Scheme (BRS) Area in Sungai Asap and Sungai Koyan, Belaga.

“The government agreed to give full compensation with an eight per cent annual interest to each family (per door). We received 50 per cent of the compensation only on April 14, 2011 and the remaining 50 per cent on Sept 6, 2012.”

Ujang said they were entitled to eight per cent annual interest commencing from September 1998 until April 14, 2011 and/or Sept 6, 2012 for the delayed payment of their compensation.

“If we paid accordingly, we can always make full use of the money, maybe do some business. But we only get our compensation after 13 years, and that is only the capital, where is our annual eight per cent interest?” he questioned.

 

Source: The Borneo Post, 13/11/2013 (Wed), Home, page 17.

Government in final stage to develop GST computerisation system

13/11/2013, Kuala Lumpur: The Government is in the final stage of preparing the processing centre and developing a computerisation system for goods and services tax (GST), which will be enforced on April 1, 2015.

Royal Customs Department director-general Datuk Seri Khazali Ahmad said they have identified Kuala Lumpur as the location for the processing centre, which would be completed soon.

The computerisation system, known as “myGST”, is 98 per cent complete and will be ready for trial run by year-end, he said.

“In December, the myGST system will be fully ready and we will do try run after that”, he told Bernama in an interview.

Catholic Church files application for leave to appeal to the Federal Court

13/11/2013, Putrajaya: The Catholic Church has filed an application for leave to appeal to the Federal Court the decision of the Court of Appeal which had allowed the government`s appeal to ban its weekly publication the Herald from using the word “Allah” to refer God.

PR1MA offering home buyers lower rate

13/11/2013, Kuala Lumpur: Buyers of homes developed under the 1Malaysia People`s Housing (PR1MA) programme would probably have to fork out only between RM400 and RM500 monthly for a unit that costs RM200,000.00, said Minister in Prime Minister`s Department, Datuk Seri Shahidan Kassim. He said the rate was much lower than what was offered by commercial banks, which was usually around RM1,800.00, and was clearly a good alternative to renting a unit.

“There is no way one can afford to pay RM1,800.00 if one earns a monthly salary of RM3,000.00.

Furthermore, PR1MA will also provide loans” he told reporters outside parliament yesterday, adding, Prime Minister Datuk Seri Najib Tun Razak would announce the good news soon.