Latest news with #Zulkfli
Daily Express
15-05-2025
- Business
- Daily Express
Higher minimum wage good for Sabah's economy
Published on: Thursday, May 15, 2025 Published on: Thu, May 15, 2025 Text Size: Arifin (seated middle) and Zulkfli (seated 2nd from left) in a group photo at the ceremony to present appointment letters to 48 Sabah Labour Advisory Council Committee members. Kota Kinabalu: The increase in Malaysia's minimum wage from RM1,500 to RM1,700 per month could boost the economy, says Sabah Human Resource Department Director Zulkfli Wan Setapa. He explained the concept as the 'velocity of money.' Advertisement 'By increasing the minimum wage, each worker receives an additional RM200. In Sabah, 75pc of the 2.1 million workforce earns approximately RM1,500 per month. This means about one million workers will benefit. 'If each of them receives RM200 more, that amounts to RM200mil injected into the economy every month,' he said. Zulkfli said this after presenting appointment letters to 48 Sabah Labour Advisory Council (SLAC) permanent committee members at the Shangri-La Tanjung Aru Resort on Tuesday (May 13). The ceremony was officiated by Chief Minister Datuk Seri Hajiji Noor, who was represented by Science, Technology and Innovation Minister, Datuk Dr Mohd Arifin Mohd Arif. Zulkfli said that since these workers still fall below the poverty line, with incomes under RM2,800 per month, they are likely to spend their entire earnings. 'Imagine RM200 million spent on essentials like rice that is income for rice sellers. Then those sellers may buy vegetables, passing the money along. The vegetable sellers may buy fish, and the fishmongers might use the money for their children's tuition. 'If the velocity of money is 10 times, that RM200mil becomes RM2bil circulating monthly. Annually, that is RM20bil injected into the economy, and this will stimulate Sabah's economy,' he explained. He also acknowledged that unemployment in Sabah remains relatively high but said that state-level plans are in place to address the issue. 'We are focused on creating more job opportunities and encouraging Sabahans working in Peninsular Malaysia to return home and contribute to our local economy,' he said. Zulkfli also touched on employment conditions, noting that workers in Sabah are legally entitled to 14 public holidays, adding that employers may provide more if they wish. 'The same applies to annual leave, the minimum is eight days for new employees, but some companies offer more, even up to 20 days. As long as they meet the legal minimum, it's up to the employer's discretion.' Also present at the event was the Federal Human Resources Ministry secretary-general, Datuk Azman Mohd Yusof. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
13-05-2025
- Business
- The Star
Minimum wage hike could boost Sabah's Economy
Sabah Human Resource Department director Zulkfli Wan Setapa talking to the media while Science, Technology and Innovation Minister, Datuk Dr Mohd Arifin Mohd Arif (right) and Federal Human Resources Ministry secretary-general, Datuk Azman Mohd Yusof (second right) look on. KOTA KINABALU: The increase in Malaysia's minimum wage from RM1,500 to RM1,700 per month could boost the economy, says Sabah Human Resource Department director Zulkfli Wan Setapa. He explained the concept as the 'velocity of money.' 'By increasing the minimum wage, each worker receives an additional RM200. In Sabah, 75% of the 2.1 million workforce earns approximately RM1,500 per month. This means about one million workers will benefit. 'If each of them receives RM200 more, that amounts to RM200mil injected into the economy every month,' he said. Zulkfli said this after presenting appointment letters to 48 Sabah Labour Advisory Council (SLAC) permanent committee members at the Shangri-La Tanjung Aru Resort on Tuesday (May 13). The ceremony was officiated by Chief Minister Datuk Seri Hajiji Noor, who was represented by Science, Technology and Innovation Minister, Datuk Dr Mohd Arifin Mohd Arif. Zulkfli said that since these workers still fall below the poverty line, with incomes under RM2,800 per month, they are likely to spend their entire earnings. 'Imagine RM200mil spent on essentials like rice, that is income for rice sellers. Then those sellers may buy vegetables, passing the money along. The vegetable sellers may buy fish, and the fishmongers might use the money for their children's tuition. 'If the velocity of money is 10 times, that RM200mil becomes RM2bil circulating monthly. Annually, that is RM20bil injected into the economy, and this will stimulate Sabah's economy,' he explained. He also acknowledged that unemployment in Sabah remains relatively high but said that state-level plans are in place to address the issue. 'We are focused on creating more job opportunities and encouraging Sabahans working in Peninsular Malaysia to return home and contribute to our local economy,' he said. Zulkfli also touched on employment conditions, noting that workers in Sabah are legally entitled to 14 public holidays, adding that employers may provide more if they wish. 'The same applies to annual leave, the minimum is eight days for new employees, but some companies offer more, even up to 20 days. As long as they meet the legal minimum, it's up to the employer's discretion.' Also present at the event was the Federal Human Resources Ministry secretary-general, Datuk Azman Mohd Yusof.
Borneo Post
13-05-2025
- Business
- Borneo Post
Minimum wage hike will spur Sabah's economy
Zulkfli (left), Azman (centre), and Mohd Arifin at the SLAC appointment ceremony. KOTA KINABALU (May 13): The recent increase in the minimum wage from RM1,500 to RM1,700 per month is expected to significantly stimulate Sabah's economy, said Sabah Human Resource Department (JTK Sabah) director Zulkfli Wan Setapa. 'I'll give you an example. In economic terms, this relates to the velocity of money. With the RM200 increase, every worker will have more to spend,' he said. 'In Sabah, about 75 percent of the 2.1 million workers earn around RM1,500 per month. That's roughly one million workers who will benefit from the increment. Multiply that by RM200, and you get RM200 million injected into the economy every month,' he added. Zulkfli was speaking to the media after the handing over of appointment letters to 48 permanent members of the Sabah Labour Advisory Council (SLAC) at the Shangri-La Tanjung Aru Resort on Tuesday. The event was officiated by Science, Technology and Innovation Minister Datuk Mohd Arifin Mohd Arif who represented the Chief Minister. Zulkfli pointed out that since many of the wage earners fall below the poverty line (defined as earning under RM2,800/month), the additional income is likely to be spent entirely on necessities. 'Imagine RM200 million spent on essentials like rice. That's RM200 million in income for rice sellers. The rice sellers might then spend on vegetables, the vegetable vendors on fish, and the fishmongers on tuition for their children. This chain reaction keeps the money circulating,' he explained. 'If the velocity of money is 10 times, that RM200 million can translate to RM2 billion circulating in the economy each month. Over a year, that's RM20 billion — a major boost for Sabah's economy.' He also acknowledged that unemployment in Sabah remains relatively high but assured that the State Government is implementing more effective strategies to address the issue. 'We're focusing on job creation and also encouraging Sabahans working in West Malaysia to return and contribute to the local economy,' he said. On another note, Zulkfli addressed concerns regarding public holidays and leave entitlements for workers in the state. He clarified that under current labour laws, employers are required to provide a minimum of 14 public holidays per year. 'Anything beyond that is up to the employer. Some may voluntarily offer more. The same goes for annual leave — the statutory minimum is eight days, but some employers provide 10, 12, 15, or even up to 20 days. What's important is that they meet the minimum requirement,' he said. Also present at the event was Datuk Azman Mohd Yusof, Secretary-General of the Federal Ministry of Human Resources.
