KUALA LUMPUR (Dec 1): Genting Malaysia Bhd (KL:GENM) has increased its minimum monthly wage to RM1,800, above the statutory RM1,700, as part of its 14th Collective Agreement (CA) signed with the Genting Malaysia Workers Union.
The new CA applies retroactively from Aug 1, 2025 to July 31, 2028, covering all confirmed employees of the group. The agreement was formalised at a ceremony in Wisma Genting on Monday, witnessed by Human Resources Minister Steven Sim Chee Keong.
Under the revised terms, eligible employees will receive a 10% salary adjustment, with the ex-gratia portion for August to October 2025 to be paid by Nov 30, 2025.
Beyond wages, the new CA includes revisions to allowances, expanded medical and outpatient benefits for employees and their immediate family members, improved transportation reimbursements for medical treatment, enhanced death benefit provisions and adjustments to annual increment structures.
Genting Malaysia deputy president Lee Thiam Kit said the new CA reflects the group’s long-standing partnership with the union and its commitment to maintaining stable labour relations.
“A CA is not merely a legal document; it represents the spirit of cooperation, mutual understanding, and respect between employer and employees. It serves as the foundation for a stable, fair and progressive labour relationship,” he added.
Genting Malaysia is in the midst of a privatisation exercise, in which its controlling shareholder Genting Bhd (KL:GENTING) is offering RM2.35 per share to minority shareholders to take over the company.
The offer closed at 5pm on Monday, following an extension from the earlier Nov 24 deadline.
As of last Friday (Nov 28), Bursa Malaysia filings showed Genting had raised its direct interest to 64.1% through market purchases and takeover acceptances.
Shares in Genting Malaysia closed unchanged at RM2.35 on Monday, with a market capitalisation of RM13.95 billion. The counter is up more than 4% year to date.