Latest news with #FederationofMalaysianBusinessAssociations
The Sun
3 days ago
- Business
- The Sun
WTCKL wins Industry Outstanding Award for business events excellence
KUALA LUMPUR: World Trade Centre Kuala Lumpur (WTCKL) has been awarded the Industry Outstanding Award (Service) by the Federation of Malaysian Business Associations (FMBA). The recognition highlights WTCKL's dedication to excellence in the business events sector during the Malaysia Industry Award 2025 (MINDA 2025). Group managing director Datuk Seri Irmohizam Ibrahim stated that the award underscores the centre's commitment to innovation and client-focused experiences. 'We are deeply honoured to receive this prestigious award, which not only recognises our team's unwavering commitment to service excellence but also defines WTCKL's prominent role as a pioneer in Malaysia's convention centre landscape,' he said. MINDA 2025 was held alongside the ASEAN Business Community Development Forum and ASEAN Business Networking Minds. - Bernama
The Star
01-08-2025
- Business
- The Star
Energy-intensive sectors feeling the heat from tariff hike
PETALING JAYA: Businesses in energy-intensive sectors are feeling the strain of higher electricity costs, with some reporting up to a 10% spike in monthly bills following recent tariff adjustments, according to a business group. Federation of Malaysian Business Associations (FMBA) vice-chairman Nivas Ragavan said the manufacturing, cold storage and food processing sectors were affected. For SMEs operating in industrial zones, he said this led to an average increase of up to RM9,000 monthly, depending on usage and operational scales. 'Some members have reluctantly begun passing down costs as part of increased utility expenses. 'Average price adjustments have been in the 3% to 7% range, primarily to offset electricity-related overheads,' he said. Nivas, who is also the Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry president, said the hikes will lead to broader consumer price increases if relief mechanisms or subsidies were not reviewed. 'The government and TNB should reevaluate the tariff structure. 'Businesses that adopt environmental, social and governance initiatives, invest in green energy or operate during off-peak hours, should be offered tiered incentives or rebates. 'This will encourage sustainability without punishing productivity,' he said. SME Association of Malaysia national president Chin Chee Seong said the body will conduct a survey to find out the actual situation on the ground. 'It may be several months before any impact can be observed. 'Perhaps then, we can see how much more businesses have to pay when it comes to their electricity bills,' he said, adding that most may not have received their bills yet. The Electricity Tariff Restructuring came into effect on July 1 and will last until Dec 31, 2027. Under the restructuring, the Energy Commission announced that more than 23.6 million domestic users in the peninsula would benefit from fairer and more progressive electricity rates due to the newly approved electricity tariff schedule by the government. It said the electricity tariff changes for the Regulatory Period 4 (RP4) involve the restructuring of the following three components – average base tariff rate, new tariff schedule and fuel cost adjustment mechanism.
New Straits Times
19-05-2025
- Health
- New Straits Times
Business group wants government to ease SMEs' burden from Fomema policy changes
KUALA LUMPUR: The Federation of Malaysian Business Associations (FMBA) has urged the government to address the challenges faced by the small and medium enterprises following policy changes by the Foreign Workers Medical Examination Monitoring Agency (Fomema). FMBA chairman Datuk Seri Abdul Malik Abdullah said the changes were made "without adequate stakeholder consultation" and were a major shift in Malaysia's foreign worker regulations. "These unexpected expenses posed a substantial burden on SMEs, which often operate with tight margins, especially in the era of post Covid-19, when many SMEs are still struggling to keep afloat." In December 2023, Fomema mandated annual medical exams for foreign workers, replacing the previous biennial requirement. Fees rose from RM190 to RM207 for male workers (an increase of 8.9 per cent) and from RM207 to RM217 for female workers (an increase of 4.8 per cent). "The announcement of these changes came just one day before implementation, leaving many SMEs unprepared for the sudden costs and operational adjustments required." Malik said the new policy increased administrative workload of SMEs and was particularly challenging for smaller businesses with limited human resource capabilities. He said Fomema also deemed foreign workers with "uncontrolled non-communicable diseases (NCDs)" as an unsuitable for employment. "NCDs like hypertension, diabetes and high cholesterol are prevalent among working Malaysian adults, who contribute to the productivity and growth of the nation. "NCDs are also treatable and controllable. Countries such as the United Kingdom, Japan, Germany, India and China do not impose this requirement." Malik said FMBA had raised their concerns with the Health, Home, and Investment, Trade and Industry Ministries. "Currently, employers and foreign workers lack access to medical records from screenings, which should be provided to both parties. "Employers, having funded these screenings, should have rights to relevant health information. "In this regard, FMBA recommends that a copy of the medical examination report be prepared and provided to the employer." Malik said the examination costs were compounded by other recent policies, including a multi-tiered foreign worker levy, higher minimum wage, mandatory Employee Provident Fund contributions and Employment Injury Scheme and Invalidity Scheme under the Social Security Organisation.
