SKORCAREER

The Malaysia’s minimum wage has been officially announced by the Prime Minister, Dato’ Seri Najib Tun Razak. It’s RM900 for peninsula and RM800 for Sabah and Sarawak. This min salary is applicable for the private sector.

Employers are given six months in time to adhere to this new ruling. “Micro enterprises”, a terms that refers to the smaller companies, on the other hand, are given one year. In addition to this, all states will have a uniformed minimum salary in three years to come.

It is reported that the Small and Medium Industry (SMI) companies will make up the majority chunk affected by the new minimum wage regulation. It is believed that SMI constitutes more than 90% of operating businesses in Malaysia, and are responsible to employ close to 60% of all workers in the country.

Japanese conglomerate Sony is preparing to cut 10,000 jobs in its bid to return to profitability after 4 years of lingering in the red.

The job cut figure represents about 6 percent of Sony’s total workforce. Some four years ago, more than 15,000 Sony employees lost their jobs after the financial global crisis hit the electronic industry, forcing thousands of companies to lay off their staff.

Sony’s TV business is ailing badly amid fierce competition from other major players. Last year, the company’s LCD panel merged with Hitachi and Toshiba to form Japan Display.

It was also rumored that the company’s top executives are to be asked returning the bonuses the previously received.

Malaysia has been listed among the best countries for Americans to retire, a book writes.  It is ranked 18th best country based on a number of criteria that include quality of life and affordability for senior and retired citizens.

The list was compiled by Kathleen Peddicord, who is the founder of the Live and Invest Overseas publishing group. Kathleen was also the Editor of the International Living magazine for more than 20 years.

The list of Best Countries to Retire was documented in her latest book, How to Retire Overseas – Everything You Need to Know to Live Well Abroad for Less.

Malaysia was ranked behind two neighbouring countries, Thailand (16th) and Vietnam (17th).

According to Kathleen, Americans looking for post-retirement life in Malaysia can cut their living expenses by a third and yet still able to enjoy similar lifestyle comparable to their life back in the US.

Vincent Tan has retired. The Berjaya Group magnet has decided to retire from the corporate world. He is to relinquish all of his positions in Berjaya.

Vincent built the Berjaya Corporation from a small size company to a multi-billion conglomerate with wide range of businesses that include property, entertainment, food and beverages, resorts and leisure. Before joining the business world, he worked as a clerk and an insurance salesman.

Last year, he pledged to donate half of his fortune to charity.

Being one of the richest men in Malaysia, Vincent Tan was induced into the billionaires list by Forbes, with a wealth of RM4.2 billion.

Penang has always been one of the leading avenues in attracting manufacturing companies to set up their operation. It once again proves as the top state for manufacturing investment in Malaysia for year 2011 after becoming the best performer in the previous year.

Three years ago, Penang was ranked a poor fourth.

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Thousands of people are rushing to check their EPF statements, after the EPF (Employee Provident Fund) declared a 6% dividend payout.

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In a latest survey, Kuala Lumpur (KL) climbs 12 positions in the ranking of the world’s most expensive cities. The Malaysia capital is listed at 74th, compared to 86th as published in mid of 2011.

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