Sime Darby Property Bhd has raised the minimum monthly wage for its employees in the B40 income group by 80%, increasing it from RM1,500 to RM2,700. The move is part of the company’s broader commitment to supporting employee welfare and fostering inclusive growth.

Chairman Datuk Rizal Rickman Ramli said the revision was introduced in response to the rising cost of living and is intended to provide more meaningful financial support to lower-income employees. “This initiative highlights our commitment to financial stability and the well-being of our workforce, particularly those most impacted by rising living costs,” he said in the group’s Integrated Annual Report 2024.

The wage increase forms part of Sime Darby Property’s wider workforce development strategy under its SHIFT25 transformation plan. In 2024, the company reported a 43% rise in total employee training hours and rolled out new programmes focused on artificial intelligence, sustainable development, and urban biodiversity.

Rizal noted that these initiatives reflect the group’s efforts to equip its workforce with skills aligned to shifting industry needs and increasing expectations around environmental, social, and governance (ESG) practices.

With the new minimum wage set at RM2,700, Sime Darby Property now offers a salary floor RM1,000 above the national statutory rate. According to the government’s revised minimum wage policy, companies with five or more employees were required to raise their wage floor to RM1,700 as of February this year, while smaller businesses have until August to comply.

Failure to meet the new standard constitutes an offence under the National Wages Consultative Council Act 2011 (Act 732) and may result in penalties. The updated national minimum wage, announced as part of Budget 2025, is expected to benefit more than 4.3 million workers across Malaysia.

(Source: NST)

• TAGS:
• B40
• Datuk Rizal Rickman Ramli
• Minimum Wage
• Sime Darby Property
• Workforce