Latest news with #ChinCheeSeong
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Master's degree does not guarantee higher pay, says SME group
A mismatch in the labour market has forced many master's degree holders to accept jobs that require lower qualifications and, along with it, lower salaries. (Freepik pic) PETALING JAYA : The perception that master's degree holders are earning less than expected given their qualifications only holds true in certain cases, says SME Association Malaysia president Chin Chee Seong. He said the problem stems from a mismatch in the labour market in Malaysia. 'There are limited roles that specifically require postgraduate qualifications, forcing many to accept lower-paying jobs typically held by degree holders,' he told FMT. Sharing his view is Malaysian Employers Federation (MEF) president Syed Hussain Syed Husman, who pointed out that the relevance of some postgraduate qualifications is limited. Chin Chee Seong. Chin said the Malaysian job market has yet to reach a stage where there is a need for more of those with a master's degree. 'Employers are not averse to paying higher salaries. The question is whether or not it is necessary or justified,' he pointed out. Chin said the association has been urging the government to invest in tech-based industries and to push more small and medium enterprises (SMEs) to adopt advanced technology. He said that when industries embrace digitalisation, the need for specific technical skills that come only with postgraduate qualifications rises, making employers more willing to offer higher salaries. He noted that SMEs in some sectors, such as IT services, already offer 'relatively high' starting pay, with fresh graduates earning RM4,000 to RM4,500, depending on the role. Those with a master's degree in fields like computer science are more likely to earn higher wages, Chin said. However, postgraduates in areas like human resources or administration may not see the same returns, as these roles only require degree holders. A recent report by Permodalan Nasional Bhd (PNB) Research Institute said master's degree holders have seen a 10% decline in real wages in the decade leading up to 2022, compared with just a 4% drop in the previous corresponding decade. In contrast, degree holders saw a slight improvement in wage growth over the same period. Syed Hussain Syed Husman. Syed Hussein said factors such as underemployment and an oversupply of graduates have also contributed to wage stagnation. 'Without a corresponding increase in productivity and business performance, employers are unlikely to raise wages simply because an employee holds a higher academic qualification,' he told FMT. Syed Hussain said postgraduate degrees still offer value in specialised fields such as data science and engineering, but unless qualifications align with evolving industry needs, wage challenges for master's graduates will persist. He called for closer collaboration between academia and industry to ensure postgraduate programmes are aligned with market needs. The rate of skills-related underemployment stood at 37% in the second quarter of 2024, deputy economy minister Hanifah Hajar Taib said last year. He added that youth unemployment also stood at 10.6% for the fourth consecutive month in February, involving 306,600 people, which some attributed to a skills mismatch.
The Star
04-05-2025
- Business
- The Star
All eyes on US tariff response
PETALING JAYA: Business groups and industry players will be closely monitoring the Parliament's special sitting today, which is set to discuss the impact of US tariffs. The special session will see about 20 lawmakers debating the implications of the United States' decision on the country's economy as well as the Malaysian government's long-term planning and responses to the tariffs across key sectors. ALSO READ: US tariff debate set for May 5 SME Association of Malaysia national president Dr Chin Chee Seong said local businesses are awaiting the outcome of the discussion in the Dewan Rakyat, especially the Prime Minister's key message. 'We appreciate the efforts made by the government as it is a pertinent issue that will have a huge implication on the national economy,' said Chin, who is also the deputy chair of the Malaysia-China Business council. Small and Medium Enterprises Association of Malaysia (Samenta) president Datuk William Ng said they will be closely monitoring the proceedings, particularly if there is any announcement which could impact businesses. He said this would also include suggestions on how Malaysia should tackle the issue. 'We must not be mere spectators in this tariff war but neither should we be part of any escalation. ALSO READ: PM: Unite to deal with US tariffs 'While it is important to help SMEs negate the challenges of the tariff, especially in diversifying our source of customers and suppliers, it is also important to identify opportunities that are presented by the tariff,' he said. Among the suggestions Ng is hoping to see is a halt on any planned increment in fees by agencies or councils on businesses until there is better clarity on the impact from the costs. 'We also hope there will be strategies put forth on seeing closer cooperation among Asean countries. 'This includes working more closely with our Asean neighbours in reducing Non-Tariff Barriers (NTBs) and promoting intra-region trade, working with China for better two-way trade and exploring opportunities in the Middle East and Central Asia. On April 3, US President Donald Trump announced that the United States would impose a basic 10% tariff on all imports as well as reciprocal tariffs of up to 24% on goods from Malaysia. However, the Trump administration subsequently announced a 90-day pause until July 8 on the reciprocal tariffs. China and the United States – both of which are important trade partners to Malaysia – are currently in a tariff war, with each having implemented tariffs of over 100% against each other. ALSO READ: Miti deputy sec-gen to be appointed chief negotiator for US tariff talks Convened at the request of the Prime Minister under Standing Order 11(3) of the Dewan Rakyat's house rules, the sitting today will serve as a key platform for ministers to brief Parliament on the government's response and outcomes of recent bilateral engagements. It will also address the broader economic impact of the US tariffs and outline coordinated responses across ministries and sectors. The sitting will also provide an opportunity for MPs to hear from Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz – who had led a high-level delegation to Washington on April 24, where he held talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer. Malaysia had expressed openness to negotiations on four key areas: reducing the trade deficit; addressing non-tariff barriers; strengthening technological safeguards and security; and exploring a potential bilateral trade agreement. MPs, said political analyst Professor Dr Azmi Hassan, should take this opportunity to ask the government tough and hard questions to get clarity on all related issues. 'The Prime Minister should also not sugar coat his answers and give the real picture of the issues we are facing as a nation,' he said. Political analyst Prof Datuk Dr Sivamurugan Pandian said the sitting was not just important for MPs to listen to Datuk Seri Anwar Ibrahim's views as the Prime Minister and Malaysia as Asean Chair, but also on whether it had found a workable formula for the country, the United States and Asean. The sitting, he added, was pertinent to show solidarity for the government's decision and to ensure that it will not affect the well-being and livelihood of the public, and multilateral relations. 'The Opposition can also use this sitting to show that national interest is above political differences,' he said. Bayan Baru MP Sim Tze Tzin said the business sector is not the only one showing keen interest in the debates, as international players such as China and the United States would also be listening in to see how the government is responding to key issues. 'I managed to get direct feedback from the stakeholders in my constituency, mostly from the electrical and electronics sector, on the challenges and anxiety that they are facing. 'Although the sector is still exempt (from US tariffs) for now, the impact will be big if it is implemented,' Sim said, adding that about 20 MPs are taking part in the debate. As a backbencher, Sim said he will be debating and supporting the government's strategy, which is to find a balanced approach with no retaliatory tariffs, as well as finding ways to negotiate with the United States. 'I think as a middle income country, that is the right approach for Malaysia,' he said, urging the Opposition to put the interest of the country first and support the government. 'We must speak as one as there is too much at stake.'
New Straits Times
23-04-2025
- Business
- New Straits Times
SME Association to host charity golf tournament on June 6
KUALA LUMPUR: The SME Association of Malaysia is hosting a charity golf tournament, the SME International Charity Golf 2025, at the Kota Permai Golf & Country Club, Selangor, on June 6. The event, which will be held from 11am to 10pm, aims to bring together business leaders, entrepreneurs, and industry stakeholders for a memorable day of golf, strategic networking, and social responsibility. "This signature event is expected to attract over 120 prominent professionals and business owners from Malaysia and the Asean region. "The occasion carries a dual mission, 50 per cent of proceeds will be donated to charitable homes supporting underprivileged and marginalised communities, while the remaining 50 per cent will be allocated to the SME Development Fund, a dedicated initiative to support the growth and capacity building of small and medium enterprises across the country," it said in a statement. In line with the association's commitment to fostering impactful partnerships, companies and organisations are warmly invited to participate as sponsors of this prestigious event. Sponsorship opportunities offer valuable brand visibility, access to networking with influential decision-makers, and a meaningful avenue to demonstrate corporate social responsibility. "Support from the business community is essential to amplifying the reach and success of the tournament, while making a tangible difference to both charitable causes and the SME ecosystem," it said. Deputy Digital Minister Datuk Wilson Ugak Kumbong will officiate the event. He said the SME International Charity Golf 2025 is more than just a sporting event — it is a vital platform for connecting entrepreneurs, industry leaders, and innovators to champion economic growth and inclusive development. "As Malaysia continues its digital transformation journey, it is essential to empower SMEs through collaboration and exposure to digital solutions," he said in the statement. He said such events not only foster strategic networks but also help enhance competitiveness, sustainability, and global reach for local businesses. Meanwhile, SME Association president Chin Chee Seong said the SME International Charity Golf 2025 is a meaningful initiative that reflects the spirit of business, digital progress, and social responsibility. "As we work towards a digitally empowered SME landscape, this event provides a valuable platform for industry players to connect and collaborate to drive growth. "At the same time, we are proud that this tournament supports charitable causes, demonstrating that economic progress and compassion for the community can go hand in hand. "Together, we can uplift both businesses and those in need," said Chin. Participation in the SME International Charity Golf 2025 is open to individuals and corporate teams. The registration fee includes green fees, a twin-sharing buggy and caddy, a tournament T-shirt, a premium goodies bag, lunch, and dinner. In addition to a day of sport and camaraderie, participants can look forward to winning attractive novelty prizes, trophies, and hole-in-one rewards.
