KAMPONG BOYS DONT KNOW WHAT THEY ARE SAYING. ECONOMY GOING TO HALT.

• GAJI MINIMA RM3,000 SEBULAN?
• KENAPA KEDEKUT SANGAT? 
• BAYAR LAH GAJI MINIMA RM5,000 SEBULAN. 
• KALAU RM7,000 SEBULAN LAGI BAGUS.
  
• AFTER ALL DUIT ITU BUKAN DUIT BAPAK KAU. 
• IT IS NOT YOUR FATHER'S MONEY. 
• DUIT ITU DUIT BAPAK AKU. 
• DUIT AKU SEKALI. 
• TAXPAYERS MONEY.

 

 

OSTB :   Folks, this is what is going to happen. All the kampong boys who run the GLCs will be shitting their pants now.  Not because they may not have enough cashflow to pay RM3,000 Minimum Wage.

They will be shitting their pants because now they must also keep up with the "harus ada iltizam daripada pihak pengurusan syarikat swasta untuk menjamin keselesaan pekerja mereka".

If they too dont raise their Minimum Wages to RM3,000 they may lose their CEO, Chairman positions in the GLCs.  After all bukan duit bapak dia. They are playing with taxpayers money. Our money.

I think I will apply for a GAJI MINIMA job at some GLC. 

• There will be runaway inflation in the country. 
• The Ringgit will fall. 
• (Siapa yang tak faham, think about Japanese Banana Money during the Japanese occupation of Malaya). 

The productivity level of most Minimum Wage workers in Malaysia is still the same today (2024) as it was in 2013 when Minimum Wages first began. 

• At that time retail workers in KL were paid RM500 - RM600 per month.
• In 2013 Minimum Wages kicked in at RM900.
• Then it went to RM1,200 per month.
  
• In 2022 it went up to RM1,500.
  
• Now the GLC duds are taking it up to RM3,000 per month.
  

• The productivity level is still about the same but the Minimum Wage has increased 150% since 2013.
• If they increase it to RM3,000 per month, that will be a 400% increment in Minimum Wages since 2013. 

Believe me folks, the productivity of the Minimum Wage workers is nowhere close to a 400% increment in minimum wages since 2013.  

• Our GDP growth has been about 5%. 
• Minus inflation, real GDP growth is 2% to 3%.
  

• I just checked. 
• In 2013 the average US$ vs RM exchange rate was RM3.15.
• Today 2024, the USD vs RM is RM4.37. 
• A drop in the value of the Ringgit of about 40%.
  

• Believe me there will be more inflation. 
• The Ringgit will drop more.   

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.