IOI: Low impact from minimum wage hike

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

PUTRAJAYA: 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).

IOI Corp managing director and chief executive officer Datuk Lee Yeow Chor anticipates the impact from the measures to be less than 1.5% of its net profit for its financial year ending June 30, 2025 (FY25).