Latest news with #045
Malaysian Reserve
30-04-2025
- Business
- Malaysian Reserve
Median wages in formal sector rose 5% from Dec 2023 to Dec 2024
by NURUL NAJMIN ABU BAKAR MEDIAN monthly wages in Malaysia's formal sector rose to RM3,045 in December 2024, up 5% from the same month last year. According to the Department of Statistics Malaysia (DOSM), the median wage increased from RM2,764 recorded in both October and November 2024, showing continued improvement in the labour market during the final quarter of the year. Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the whole of 2024, the annual median wage grew by 6% compared to 2023, based on data from the Employee Wages Statistics (Formal Sector) Report, Fourth Quarter 2024. 'This increase in median wages shows the labour market is improving along with economic growth,' he said in a statement. The number of citizens working in the formal sector rose 2.3% year-on-year to 6.83 million people in December 2024, with an increase of 156,600 workers. Male employees made up 55.2% of the total or 3.77 million people, with a median wage of RM3,045, while females made up 44.8% or 3.06 million people, earning a median of RM3,000. Compared to December 2023, median wages for male employees grew by 3.4%, while female wages increased by 5.4%. All age groups recorded wage growth, with the highest increase of 8.3% seen in employees aged 65 and above, whose median wage rose to RM2,982. Employees under 20 years old saw their median wage increase for the first time since June 2022, rising by 1.8% to RM1,527, while those aged 45 to 49 earned the highest wage at RM4,082. All sectors saw wage growth in the fourth quarter, with the mining and quarrying sector recording the highest increase of 9.6% to RM7,500, though it made up only 0.6% of workers. The agriculture sector had the lowest median wage at RM2,382 but still posted a 3.6% year-on-year increase. Kuala Lumpur recorded the highest median wage by state at RM4,200, followed by Penang (RM3,382) and Selangor (RM3,300), while Sabah (RM2,000), Perlis (RM1,764) and Kelantan (RM1,664) were the lowest. In December 2024, 29.2% of formal employees earned below RM2,000 a month,a drop of two percentage points from the year before. 'The bottom 10% earned RM1,500 or less, while the top 10% earned at least RM10,800 which showed a gap of more than seven times,' he explained. Mohd Uzir added that DOSM will continue improving wage data by using more administrative sources to give a clearer view of the labour market.
New Straits Times
24-04-2025
- Business
- New Straits Times
Palm futures steady as strong ringgit offsets boost from rival oils
JAKARTA: Malaysian palm oil futures traded sideways on Thursday, after two previous sessions of gain, as higher rival vegetable oils lent support while a strong currency limited gains. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained RM8, or 0.2 per cent, to RM4,045 (US$922.04)a metric ton by 0242 GMT. The contract traded between RM4,012 and RM4,054 a ton in early trade, after closing at RM4,037 in the previous session. FUNDAMENTALS Dalian's most-active soyoil contract was up 0.74 per cent, while its palm oil contract gained 0.88 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) rose 0.39 per cent. Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. India has started raising palm oil purchases after a lull of five months as a correction in prices has made the tropical oil cheaper than rival soyoil, encouraging refiners to place orders to replenish inventories, four dealers told Reuters. Oil prices ticked up early on Thursday after falling nearly 2 per cent in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing US-Iran nuclear talks. Malaysian ringgit, the contract currency of trade strengthened 0.02 per cent against the US dollar. A stronger ringgit made the contract less attractive for foreign currency holders. Palm oil FCPOc3 may retrace into a range of RM3,929 to RM3,968 per metric ton, following its failure to break resistance at RM4,072, according to Reuters technical analyst Wang Tao. Stocks drifted on Thursday and a rebound in the dollar lost traction as investors tried to sift through the noise from the Trump administration and its fickle stance on tariffs and the Federal Reserve's leadership.
Zawya
14-04-2025
- Business
- Zawya
Sharjah Islamic unit launches 100-year leasehold for Sharjah project
UAE - ASAS Real Estate, the real estate arm of Sharjah Islamic Bank, has announced the launch of a landmark feature in its Al Saja'a Industrial Land project in Sharjah. The initiative grants expatriate investors of all non-Arab nationalities the right to 100-year leasehold ownership, in addition to offering freehold ownership for Arab investors. This initiative offers expatriate investors the opportunity to benefit from the project's strategic location and attractive returns, contributing to Sharjah's growing appeal as a long-term industrial investment hub. The decision applies to all nationalities without exception, provided the investor holds a valid residency in the UAE. This reflects Sharjah's commitment to equal investment opportunities and boosts the Sharjah's real estate competitiveness. ASAS Real Estate General Manager Ahmed Al Amiri said: "The launch of the 100-year leasehold feature comes in response to growing demand for Al Saja'a Industrial Land. It provides flexible options for expatriate investors to enter Sharjah's real estate and industrial sectors." "This step further strengthens the project's role as a key driver of economic and investment growth by attracting new investor segments and supporting the expansion of industrial activities in a rapidly developing area," stated Al Amiri. "It complements the existing offering of freehold ownership for Arab investors, enhancing investor diversity and boosting the project's competitiveness across the region," he noted. "This 100-year leasehold feature marks a qualitative leap in supporting real estate diversification and paves the way for expatriate capital to invest in one of the most vital sectors contributing to the local economy," stated Al Amiri. "The initiative also reflects the increasing openness of Sharjah's property legislation and directly enhances the emirate's status as an attractive investment destination both nationally and regionally, thanks to its secure and stable investment environment, modern infrastructure, and diverse options catering to various needs," he added. According to him, the project embodies ASAS Real Estate's vision of supporting Sharjah's economic and real estate development journey and expanding opportunities for investors to realize their aspirations in a safe and stimulating environment. The project offers competitively priced industrial land starting from AED1,045,000, with areas ranging between 9,500 and 30,000 sq ft.
Trade Arabia
13-04-2025
- Business
- Trade Arabia
Sharjah Islamic unit launches 100-year leasehold for Sharjah project
ASAS Real Estate, the real estate arm of Sharjah Islamic Bank, has announced the launch of a landmark feature in its Al Saja'a Industrial Land project in Sharjah. The initiative grants expatriate investors of all non-Arab nationalities the right to 100-year leasehold ownership, in addition to offering freehold ownership for Arab investors. This initiative offers expatriate investors the opportunity to benefit from the project's strategic location and attractive returns, contributing to Sharjah's growing appeal as a long-term industrial investment hub. The decision applies to all nationalities without exception, provided the investor holds a valid residency in the UAE. This reflects Sharjah's commitment to equal investment opportunities and boosts the Sharjah's real estate competitiveness. ASAS Real Estate General Manager Ahmed Al Amiri said: "The launch of the 100-year leasehold feature comes in response to growing demand for Al Saja'a Industrial Land. It provides flexible options for expatriate investors to enter Sharjah's real estate and industrial sectors." "This step further strengthens the project's role as a key driver of economic and investment growth by attracting new investor segments and supporting the expansion of industrial activities in a rapidly developing area," stated Al Amiri. "It complements the existing offering of freehold ownership for Arab investors, enhancing investor diversity and boosting the project's competitiveness across the region," he noted. "This 100-year leasehold feature marks a qualitative leap in supporting real estate diversification and paves the way for expatriate capital to invest in one of the most vital sectors contributing to the local economy," stated Al Amiri. "The initiative also reflects the increasing openness of Sharjah's property legislation and directly enhances the emirate's status as an attractive investment destination both nationally and regionally, thanks to its secure and stable investment environment, modern infrastructure, and diverse options catering to various needs," he added. According to him, the project embodies ASAS Real Estate's vision of supporting Sharjah's economic and real estate development journey and expanding opportunities for investors to realize their aspirations in a safe and stimulating environment. The project offers competitively priced industrial land starting from AED1,045,000, with areas ranging between 9,500 and 30,000 sq ft.
Khaleej Times
10-04-2025
- Business
- Khaleej Times
100-year leasehold plan launched for all nationalities in Sharjah land project
ASAS Real Estate, the real estate arm of Sharjah Islamic Bank (SIB), on Wednesday announced that all non-Arab nationalities will be granted the right to 100-year leasehold ownership its Al Saja'a Industrial Land project in Sharjah, in addition to offering freehold ownership for Arab investors. This initiative offers expatriate investors the opportunity to benefit from the project's strategic location and attractive returns, contributing to Sharjah's growing appeal as a long-term industrial investment hub. The decision applies to all nationalities without exception, provided the investor holds a valid residency in the UAE. This reflects Sharjah's commitment to equal investment opportunities and boosts the Sharjah's real estate competitiveness. Ahmed Al Amiri, General Manager of ASAS Real Estate said: 'The launch of the 100-year leasehold feature comes in response to growing demand for Al Saja'a Industrial Land. It provides flexible options for expatriate investors to enter Sharjah's real estate and industrial sectors. This step further strengthens the project's role as a key driver of economic and investment growth by attracting new investor segments and supporting the expansion of industrial activities in a rapidly developing area. It complements the existing offering of freehold ownership for Arab investors, enhancing investor diversity and boosting the project's competitiveness across the region.' He added: 'This 100-year leasehold feature marks a qualitative leap in supporting real estate diversification and paves the way for expatriate capital to invest in one of the most vital sectors contributing to the local economy. The initiative also reflects the increasing openness of Sharjah's property legislation and directly enhances the emirate's status as an attractive investment destination both nationally and regionally, thanks to its secure and stable investment environment, modern infrastructure, and diverse options catering to various needs.' Al Amiri emphasized that the project embodies ASAS Real Estate's vision of supporting Sharjah's economic and real estate development journey and expanding opportunities for investors to realize their aspirations in a safe and stimulating environment. The project offers competitively priced industrial land starting from Dh1,045,000, with areas ranging between 9,500 and 30,000 square feet. Flexible payment plans of up to 24 months are available, along with exclusive financing solutions from Sharjah Islamic Bank. Investors can also construct warehouses with ground + mezzanine floor options and may include labor accommodations in line with approved regulations, ensuring an integrated infrastructure for diverse industrial operations.
