KUALA LUMPUR (Oct 27): Genting Malaysia Bhd (GenM) reached an agreement with its workers' union on Wednesday (Oct 26) on the 13th collective agreement (CA) after a two-year delay due to the Covid-19 pandemic.

In a statement, the group said the 13th CA provides better remuneration and benefits, including salary adjustments for various job positions, along with upward revisions of split duty allowances and hospitalisation benefits.

Additionally, the agreement also added compassionate leave, as well as optical and dental benefits, which will benefit more than 5,500 workers.

“The signing of the 13th CA demonstrates how both parties can work together through constant consultations and discussions to come up with new and efficient approaches to amicably resolve any issues that may arise,” according to GenM chief operating officer Lee Thiam Kit.

“With all these improvements, we believe that our employees would strive harder to sustain the company’s business growth for the mutual benefit of both parties," he said.

Lee added that to move forward, GenM would continue to adopt new technology and innovation, invest in the development of employee skills and knowledge, and review job processes to increase efficiency and productivity.

The agreement was signed by Lee and Sikindar Ibrahim, the president of the Genting Malaysia Bhd Workers Union, in the presence of Tuan Khalid Jali, the director-general of the industrial relations department of the Ministry of Human Resources.

At the time of writing on Thursday, GenM had risen by three sen or 1.12% to RM2.70, with a market capitalisation of RM16.03 billion.