Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economy

21 Dec 2021

Labour Abuse Issues Pose a Potential Threat to Malaysia’s Export Growth Model

The Index Today

Experts issued warnings over Malaysia’s growing problem of workplace aggression among migrant workers that will likely impact their economic growth model which relies heavily on the country’s exports.

Migrant workers form the backbone of Malaysia’s agricultural initiatives as well as major manufacturing plants that are significant contributors to the world’s supply chain of goods including semiconductors, medical gloves, palm oil, and iPhone parts.

The country’s network of migrant laborers who come from Indonesia, Bangladesh, and Nepal, have been continuously subjected to abuse in the workplace amid poor working and living conditions.

Over the past two years, a total of seven Malaysian companies have been dropped by U.S. firms over allegations of workplace abuse.

Referring to it as a “wakeup call”, Anthony Dass, the Head of AmBank Research in Kuala Lumpur said, "If Malaysia does not change and with the global focus on environmental, social and governance practices, businesses could move to other countries."

Although countries like China and Thailand also face a similar issue, the current global surveillance directed towards Malaysia could possibly spell doom for the country’s economic aspirations unless it takes immediate effective measures to protect the interests of its migrant labor force.

©Photo: freemalaysiatoday

Clay pottery with table linens