Minimum wage won’t impact glove sector

For companies such as Top Glove Corp Bhd and Supermax Corp Bhd, the minimum wage as of March 2022 is already at RM1,400 per month, the brokerage noted.

PETALING JAYA: While the new minimum wage will weigh on glove makers’ earnings, the impact will likely be minimal as they have already been paying workers around the same rate as the revised statutory amount.

Channel checks by TA Research found that for glove manufacturers under its coverage, foreign workers’ take-home pay is estimated to be around RM1500 to RM2000, inclusive of overtime fees.

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Minimum , wage , glove , Top Glove , Supermax , TA Research ,


Next In Business News

US producer prices unexpectedly fall in May
Apollo’s net profit jumps 70% to RM53.8mil in FY24
Sunview secures large scale solar project from Uzbekistan
Ringgit further strengthens versus US dollar at the close
Leon Fuat shareholders approve final dividend payout
FTSE4Good Bursa Malaysia Index sees 12 new inclusions
Solarvest buys office and retail space for RM48.73mil
Malaysia keeps inflation outlook for 2024 after diesel subsidy reforms
BNM to revamp its fund for SMEs deployment
Cabnet Holdings unit bags RM46mil sub-contract works

Others Also Read