Latest news with #EkonomiMadani
The Sun
20-07-2025
- Business
- The Sun
Cradle launches initiative to drive Malaysian SME innovation
PETALING JAYA: Cradle Fund Sdn Bhd, the lead agency under the Ministry of Science, Technology and Innovation (Mosti), has launched Cradle Innovation Advisory – a strategic partnership initiative aimed at accelerating technological transformation among corporates and small and medium-sized enterprises in Malaysia. The initiative is designed to address long-standing structural challenges in the national innovation ecosystem, including insufficient post-grant support, weak commercialisation pathways, fragmented connections between industry and startups, and limited SME involvement in research and development (R&D) activities. Science, Technology and Innovation Deputy Minister Datuk Mohammad Yusof Apdal said innovation cannot thrive in isolation and emphasised the importance of collaboration and ecosystem building. 'With Cradle Innovation Advisory, we empower SMEs – Malaysia's economic backbone – to access the expertise, tools, and partnerships they need to innovate, scale and compete on a global stage,' he said in a statement. 'This marks a shift from simply offering support to enabling empowerment. By activating partnerships with universities, corporations, and global startup communities, we aim to create fertile ground where great ideas are not just developed, but launched into the market, with the potential to transform entire sectors.' Cradle Group CEO Norman Matthieu Vanhaecke said the initiative goes beyond introducing new frameworks – it is about building collaborative spaces for innovation. 'This is about creating a space where startups can work closely with key corporate players, thereby strengthening SMEs, which are the backbone of the country's economy. In this proof-of-concept phase, we will focus on refining and optimising the approach before scaling it nationally for greater, long-term impact,' he said. At the heart of the initiative is the Corporate Innovation Lab Programme, a structured platform that offers modular workshops tailored to the maturity and needs of participating organisations. Beyond workshops, Cradle will provide tailored advisory services, including innovation audits, the development of innovation roadmaps and support for R&D commercialisation. Participants will also have access to strategic services, including legal advisory and human capital planning. Aligned with national agendas such as Ekonomi Madani and the Malaysia Startup Ecosystem Roadmap 2021–2030, Cradle Innovation Advisory aims to strengthen Malaysia's overall innovation capacity and enhance its position as a globally competitive startup and SME ecosystem.
The Star
02-07-2025
- Business
- The Star
RHB delivers on living wage, focuses on employee well-being and growth
KUALA LUMPUR: RHB Banking Group announced that all permanent employees in Malaysia are earning at or above the nationally recognised Living Wage benchmark of RM3,100 per month, as outlined in the Employee Provident Fund's Belanjawanku Expenditure Guide. The commitment supports the Finance Ministry's call for financial institutions and Government Linked Companies (GLCs) to lead in advancing fair compensation, aligned with the 'Raise the Floor' pillar of the Ekonomi Madani framework to improve quality of life for all Malaysians. RHB's full implementation of the Living Wage framework reflects its commitment as a responsible employer and its role in supporting Malaysia's broader efforts to improve the standard of living of the rakyat. 'At RHB, fair pay is a fundamental part of building a progressive and inclusive workplace. Our compensation practices reflect this but our duty goes further. Our Employee Value Proposition is designed to support our employees holistically, ensuring their physical, emotional and financial well-being, in a meaningful and practical way. 'This commitment is reflected in our employee engagement score which stands at 87%, a strong indicator of the trust and connection our people have with the organisation,' said RHB Banking Group managing director and chief executive officer Datuk Mohd Rashid Mohamad. In addition to the living wage commitment, mental health and wellness remain core areas of focus in RHB. The Group provides access to free confidential professional counselling and emotional support services through its Employee Assistance Programme, available to all employees Group wide. These are complemented by regular mental health webinars and awareness initiatives that help employees manage stress, strengthen emotional intelligence and maintain work-life balance. In 2024, RHB introduced a digital health platform offering personalised coaching, wellness tracking and lifestyle incentives, further strengthening its holistic approach to employee wellbeing. Employees also benefit from targeted financial support, including festive advance programmes, preferential rate staff loans and a dedicated Staff Welfare Fund for emergencies or personal hardship. Comprehensive medical coverage, robust insurance protection and flexible leave policies further contribute to a work environment that supports both individual and family well-being. 'We recognise the complex pressures in today's world, emotionally, financially and professionally. Our responsibility is to support them in all dimensions, not just through compensation, but through care, flexibility and long term opportunities to grow,' Mohd Rashid explained. RHB continues to invest in structured career development to future proof its workforce. In 2024 alone, the Group delivered over 390,000 hours of learning, averaging 29 hours per employee, with more than 13,000 employees participating in programmes covering digital transformation, sustainability, leadership and core technical skills. These efforts align with national priorities to create high quality jobs and strengthen social mobility. 'Our people are our greatest asset. When they thrive, our customers, communities and the nation thrive with them,' he added. RHB will continue to refine its people strategies to ensure long-term impact, for employees and the communities it serves, contributing to Malaysia's aspirations for sustainable and inclusive economic growth.
The Star
01-07-2025
- Business
- The Star
Maybank continues prioritising employee welfare
Maybank president and group CEO Datuk Khairussaleh Ramli PETALING JAYA: All employees of Malayan Banking Bhd (Maybank) are earning above RM3,100 a month, according to the largest banking group of Malaysia. Maybank said its employees' salaries are above the living-wage threshold, as benchmarked against the Employees Provident Fund's (EPF) Belanjawanku Guide. In a statement, the bank said it remains fully aligned with the Ekonomi Madani framework, especially the 'Raise the Floor' pillar, and will continue working alongside government-linked investment companies and the relevant stakeholders under the GEAR-uP programme to drive shared prosperity and a future-ready Malaysian workforce. Datuk Khairussaleh Ramli said the commitment is aligned to its purpose of being a values-based platform, powered by a workforce that humanises financial services and underscores long-standing commitment to fair, inclusive and sustainable pay practices. 'At Maybank, we believe that the welfare and wellbeing of employees, including fair and decent pay is not only a moral imperative, but also a business enabler. Ensuring that all our employees earn a competitive and sustainable wage is fundamental to building a resilient and future-ready workforce. It reflects our deep commitment to shared prosperity and the value of the Ekonomi Madani framework,' the Maybank president and group chief executive added. Maybank has implemented a comprehensive suite of structural and targeted initiatives to ease its lower-income employees' daily burdens and enhance financial security. These include festival aid, interest-free loans and access to a staff welfare fund for urgent medical or disaster-related needs. The bank also provides strong support for working families through an allowance for childcare and maternity care. In addition, employees' children enjoy annual back-to-school support and financial aid for those pursuing tertiary studies. To promote flexibility and personalisation, employees are also given options to optimise their benefits, such as converting Employees Provident Fund contributions for medical coverage or repurposing dental and optical allocations for digital-related expenses. Additionally, Khairussaleh said Maybank remains steadfast in creating a safe, enabling and inclusive workplace for all its employees, while providing a comprehensive and competitive suite of benefits designed to support the holistic wellbeing of its employees. For career development, the bank has put in place structured reskilling and upskilling programmes to empower its employees with relevant capabilities which include access to curated digital learning platforms, industry-recognised certifications and skills pathways aligned with internal mobility and career advancement. 'These initiatives contribute directly to the nation's objectives towards workforce resilience, social mobility, and the development of high-quality jobs,' Khairussaleh explained.
The Star
30-06-2025
- Business
- The Star
Maybank remains committed to 'fair, inclusive and sustainable' pay practices
Maybank president and group CEO Datuk Khairussaleh Ramli KUALA LUMPUR: Malayan Banking Bhd (Maybank) said all its employees in Malaysia are earning above the Living Wage threshold of RM3,100 a month, as benchmarked against the Employees Provident Fund's (EPF) Belanjawanku Guide. In a statement, the bank said it remains fully aligned with the Ekonomi Madani framework, especially the 'Raise the Floor' pillar, and will continue working alongside government-linked investment companies and the relevant stakeholders under the GEAR-uP programme to drive shared prosperity and a future-ready Malaysian workforce. Datuk Khairussaleh Ramli, president and group CEO of Maybank said that this commitment is aligned to Maybank's purpose of being a values based platform, powered by a bionic workforce that humanises financial services and underscores long-standing commitment to fair, inclusive and sustainable pay practices. 'At Maybank, we believe that employees welfare and wellbeing, including fair and decent pay is not only a moral imperative, but also a business enabler. Ensuring that all our employees earn a competitive and sustainable wage is fundamental to building a resilient and future-ready workforce. It reflects our deep commitment to shared prosperity and the value of the Ekonomi Madani framework," he added. Additionally, he said Maybank remains steadfast to creating a safe, enabling and inclusive workplace for all its employees, while providing a comprehensive and competitive suite of benefits designed to support the holistic wellbeing of its employees. For career development, the bank has put in place structured reskilling and upskilling programmes to empower its employees with relevant capabilities which include access to curated digital learning platforms, industry-recognised certifications and skills pathways aligned with internal mobility and career advancement. "These initiatives contribute directly to the nation's objectives towards workforce resilience, social mobility, and the development of high-quality jobs," said Khairussaleh.
New Straits Times
30-06-2025
- Business
- New Straits Times
Maybank says staff salaries surpass living wage benchmark
KUALA LUMPUR: Malayan Banking Bhd (Maybank) employees are earning monthly wages above the living wage benchmark of RM3,100, in accordance with the Employees Provident Fund's (EPF) Belanjawanku cost-of-living guideline. The bank said this reflects its commitment to the Finance Ministry's call for government-linked companies (GLCs) to champion fair pay practices through the GLC Earnings for a Resilient and United People (GEAR-uP) initiative. President and group chief executive officer Datuk Khairussaleh Ramli said this is part of Maybank's commitment to remain a values-driven organisation with a "bionic workforce" that leverages both people and technology to uphold fair, inclusive, and sustainable pay practices while continuing to humanise financial services. He added that the bank views employee welfare and fair pay not just as a moral responsibility but also as a key factor in driving business success. "Ensuring that all our employees earn a competitive and sustainable wage is fundamental to building a resilient and future-ready workforce. "It reflects our deep commitment to shared prosperity and the value of the Ekonomi Madani framework," he said. Maybank said it has introduced a wide range of structural and targeted initiatives aimed at supporting its lower-income employees, helping to ease their daily financial pressures and improve overall financial stability. These efforts include various forms of financial aid, such as festive assistance, interest-free loans, and access to a Staff Welfare Fund for urgent needs related to medical emergencies or natural disasters. In addition, the bank offers strong support for working families, including childcare and maternity allowances, as well as educational assistance for employees' children—ranging from annual back-to-school support to financial aid for tertiary education. "To promote flexibility and personalisation, employees are also given options to optimise their benefits, such as converting EPF contributions for medical coverage or repurposing dental and optical allocations for digital-related expenses," it added. Maybank reaffirmed its commitment to fostering a safe and inclusive work environment, empowering employees to thrive in their careers. The bank also offers a comprehensive and competitive range of benefits aimed at supporting the overall wellbeing of its workforce.
