For all latest news, follow The Financial Express Google News channel.
The Malaysian government has raised the minimum wage from RM1,500 to RM1,700 per month, with the new rate taking effect on Saturday (Feb 1).
The increase is aimed at improving workers' living standards and will benefit 4.37 million employees nationwide, according to a Bangladeshi online news portal.
The revised minimum wage applies to employers with at least five workers and those engaged in professional activities. For businesses with fewer than five employees, the new rate will take effect on August 1.
Employers must comply with the wage adjustment under the National Wages Act 2011 (Act 732). Failure to do so is a punishable offence under the law.