IOI: Low impact from minimum wage hike

Quick Summary:

IOI Corp Bhd expects minimal overall impact on its bottom line following the government’s move to hike minimum wages and impose mandatory foreign worker contribution to the Employees Provident Fund (EPF).

CEO Lee is confident that IOI Corp is on track to improve its yields in the longer term.

This may improve further for West Malaysia by up to 10%.“Mechanisation will still require workers to drive the trucks while farm automation requires mobile devices to check the crops – for these we will employ locals.

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Article Details

Author / Journalist: DANIEL KHOO

Category: EconomyBusiness

Markets: Malaysia

Topics: SolarPowerProject IOICorp MinimumWageImpact PlantationTech YieldImprovement PalmOilProduction Corporate News /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 00:00:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 808 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 23436939

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 31 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 30 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

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