Household financial assets are double debt levels, Dewan Rakyat told

KUALA LUMPUR: Malaysia’s household financial assets remain robust, standing at 2.1 times more than total household debt, the Dewan Rakyat was told. This is despite debt levels reaching RM1.65 trillion, equivalent to 84.3% of the nation's gross domestic product (GDP), as at the end of March, said Deputy Finance Minister Lim Hui Ying. She added that while...

Suspension of 80:20 foreign worker employment ratio extended, says ministry

KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) has announced that the suspension of the 80:20 employment ratio requirement for the manufacturing sector will continue until the Multi-Tiered Levy Mechanism (MTLM) is fully implemented. The 80:20 policy refers to the employment condition that mandates a ratio of 80% local workers and 20% foreign workers in...