'Corporations in Malaysia do not want to share their profits' - Wong Chen

SHAH ALAM - Subang Jaya MP Wong Chen has highlighted the need for affluent individuals and employers to contribute to the well-being of local employees, especially in comparison to foreign labor, in order to facilitate the successful implementation of the Progressive Wage Policy scheduled for next year.

Wong pointed out that despite the estimated RM81 billion allocated for subsidies in 2023, the initiative still needs to address the financial hardships the low-income demographic faces.

"We face a problem when subsidies amounting to RM81 billion appear substantial, yet the cost of living continues to surge due to persistently low wages.

"Employers in this country are more willing to invest in foreign workers and we need to advise them to give more opportunities to local citizens to work.

"Corporates in Malaysia do not want to share their profits. If low-paid workers are increased by RM500, they will not put the money abroad, instead they will spend in the country only," he said.

Wong made these remarks during the 'Between Asian Tigers and the Fate of the People' discussion in Wacana Series 417, hosted by Ismail Adnan and broadcast live on all Sinar social media platforms yesterday.

Wong also revealed that the Economy Ministry is collaborating with the Main Data Base (Padu) to collect data required for the 2024 implementation of the Progressive Wage Policy.

He said these matters are important in order to increase the rate of wages or better salaries at the national level.

"Padu is currently actively gathering data, and all this information will be consolidated to form a comprehensive Progressive Wage Policy model.

"We anticipate that, within the next six months, the Economy Ministry will outline a phased action plan to ensure the realization of this goal," he added.