Business, markets and economy news from Malaysia.
The 15th Parliament's opening week delivered minimal legislative progress, with just the Road Transport Amendment Bill 2026 securing passage. Meanwhile, lawmakers debated pressing issues including unemployment affecting tens of thousands of workers and border security funding.
Malaysia's labour market remains stable with declining job losses and increased employment placements, according to Economy Minister Akmal Nasrullah, who highlighted robust workforce participation and successful redeployment initiatives.
The Malaysian Association of Employment Agencies has unveiled an insurance programme providing employers with RM5,000 abscondment coverage and domestic workers with medical protection, filling gaps left by existing schemes.
Malaysia lost 42,807 jobs in the first six months of 2024, with business closures and downsizing as primary drivers rather than automation. The government emphasises labour demand remains strong with over 600,000 vacancies.
Malaysia's Federal Court has ruled that two company directors qualify as 'workmen' under labour law, confirming they were dismissed without just cause and are entitled to RM2 million in combined compensation and back wages.
China's ethnic affairs minister has firmly rejected allegations of forced labour in Xinjiang, stating all employment is voluntary. A new law protecting workers' rights takes effect July 1.
A Swiss study tracking 7.3 million job advertisements finds junior positions have plummeted 32% since 2023 as employers adopt artificial intelligence, with young workers increasingly anxious about workplace obsolescence.
Malaysia's agricultural TVET programme achieved an 81% marketability rate for 2024 graduates, up from 78% the previous year, as the government prioritises food security amid global challenges.
A major PwC study reveals artificial intelligence is bifurcating the global job market, rewarding companies that use AI to enhance human capabilities while leaving cost-cutting automation strategies behind. The findings carry significant implications for Southeast Asian workforce development.