Wu Yu-jen, a member connected to BAC Consulting KFT, who had established a business called” Apollo Systems” with a base in Taipei, was the second man questioned, according to local advertising. ” Our state takes the situation very seriously”, said the lawyers ‘ office in Taipei’s Shilin area in aContinue Reading
Malaysia Debt Ventures Berhad ( MDV), a leading fintech company specializing in Peer-to-Peer ( P2P ) financing and supply chain finance, announced the continuation and expansion of its strategic partnership. MDV is extending a new US$ 1.2 million ( RM5 million ) facility to CapBay to further support tech-driven SMEs and improve access to alternative financing solutions.
MDV second partnered with CapBay in 2021 by providing a pilot account for purchase through CapBay’s P2P system. This fund, aligned with the Ministry of Science, Technology, and Innovation’s ( MOSTI ) 10-10 Malaysian Science, Technology, Innovation, and Economy ( MySTIE ) framework, aimed to support the industry’s recovery from the pandemic. The captain account has since grown six-fold, demonstrating MDV’s trust in CapBay’s revolutionary approach to Business funding and its powerful performance.
CapBay, globally recognised for its leadership in fintech, has facilitated over US$ 813 million ( RM3.4 billion ) in financing, including US$ 239 million ( RM1 billion ) in Shariah-compliant funding, benefiting 1, 800 SMEs across 20 industries. Featured in CNBC and Statista’s Global Fintech Companies list ( 2023 and 2024 ) and ranked 30th on the FT High-Growth Companies Asia-Pacific 2024 list, CapBay has achieved an 18x expansion and a 166 % compound annual growth rate ( CAGR ) from 2019 to 2022.
]RM1 = US$ 0.29 ]
Through its Multi-Bank Supply Chain Finance system, CapBay has transformed SME funding in Malaysia since its founding in 2017. It uses AI-powered credit rating, advanced information study, and machine learning to evaluate SMEs that are frequently overlooked by traditional lenders. With this strategy, CapBay is able to offer targeted financing while still maintaining a default rate of less than 0.3 %. CapBay’s P2P platform, which is licensed by the Securities Commission Malaysia, gives investors access to private credit deals with average net returns of up to 8.3 % annually while strategically diversifying funds across multiple financing notes to reduce risks and maximize returns.
The new RM5 million facility highlights MDV’s confidence in CapBay’s ability to provide effective financing solutions for startups and SMEs, particularly those battling traditional funding. With this partnership, CapBay intends to expand its supply chain financing offerings and offer creative financial solutions to Malaysian SMEs. These funds will enable the business to keep providing alternative financing options to Malaysian SMEs, many of whom are battling traditional banks to obtain loans. This aligns with MDV’s long-term goal of leveraging digital fundraising platforms to diversify financing options for technology-based companies.
” Our partnership with CapBay underscores MDV’s commitment to driving innovation in Malaysia’s rapidly evolving FinTech landscape”, said Rizal Fauzi, CEO of MDV. ” As SMEs face challenges accessing traditional financing, especially in the tech sector, we are facilitating critical funding that empowers these businesses to scale, innovate, and contribute to Malaysia’s economic resilience and growth. This partnership is a sign of our belief that underserved businesses can benefit from the potential of digital finance.
Mohd Mokhtar Mohd Shariff, chairman of CapBay, also expressed gratitude for MDV’s continued support. ” We deeply value MDV’s continued support and confidence in CapBay’s vision. The significant advancements we are making in the transformation of SME financing are reflected in our ongoing partnership with MDV. This collaboration provides meaningful opportunities for growth for us to promote innovation that targets underserved businesses. We are working together to promote long-term economic resilience and competitiveness in Malaysia by supporting SMEs ‘ success and also by creating a more inclusive financial ecosystem.
The collaboration between MDV and CapBay demonstrates a mutual commitment to fostering innovation in the financial industry. Through CapBay’s platform, MDV is helping technology-based SMEs access alternative financing solutions, overcoming traditional funding barriers and achieving sustainable growth.
Fintech, in our opinion, is revolutionizing the future of finance by providing novel ways to expand access to capital and help businesses succeed in a fast-paced digital world. We are confident in our ability to help underserved SMEs overcome traditional financing obstacles and accelerate their growth as MDV continues to champion forward-thinking partners like CapBay, said Rizal.
The People’s Bank of China ( PBoC ) is in a crucial position as it looks to reduce the yuan’s appreciation while avoiding crimping Chinese bank profits as it follows the US with significant monetary easing.
On Wednesday, the US Federal Reserve eased its key lending rate by 0.5 percentage points to 4. 75 % to 5 %, marking the first easing in the country since 2019. The Fed Chair Jerome Powell said that higher borrowing costs, put in place to combat inflation, if n’t end up hurting the US market, so the split was greater than the customary 0.25 percent point decline.
Powell claimed that price cuts can be anticipated in the upcoming month and that the lessening will move faster if the economy is weak and slower if it is sturdy.
As the buck weakened, the on-shore yen increased by 233 basis points to close the regional trading program at 7.066 per money on Thursday, the strongest close since May 26, 2023. Due to this, the renminbi had increased by 2.8 % over the previous two months as forex traders anticipated the US Fed’s interest rate may be cut in September.  ,
Currency markets expected that the PBoC may cut its loan prime rate ( LPR ) by 20 basis points on Friday, the Securities Times, a state-owned newspaper and a unit of the People’s Daily, reported on Thursday.  , The magazine said business aspirations for a reduction in existing loan rates, as well as the start of financial stimulation, are also growing.
Another Chinese media, including iFeng.com, likewise said the PBoC will definitely cut costs on Friday. Stock investors have profited from the opportunity to benefit from the markets, even though authorities have not confirmed all these information.  ,
The Shanghai Composite Index gained 0.69 % to 2, 736 while Hong Kong’s Hang Seng Index surged 2 % to 18, 013 on Thursday.  ,
Some experts claimed that the US price cut has made it easier for Asian nations to lower their borrowing rates to improve their economies and that it has also reduced the relationship yield gap between China and the US.
In April 2022, the US Treasury Bond generates have surpassed China’s, leading to a cash flow from China to the US. The supply space peaked at 237 base items, or 2.37 percentage points, in April this year. There is still a deliver space of 168 foundation points between the country’s two largest economy.  ,
The US-China offer gap has decreased by about 1.6 %, according to Zhao Ran, an associate professor at the Capital University of Economics and Business, as US interest rates are declining. With reduced prices, China’s currency will continue to rise over the long run, according to Zhao.  ,
Nevertheless, some economists are worried that the beginning of the US rate-cutting period, which could mean a weaker dollar and stronger yuan, did hurt China’s imports.  ,
” China’s plan is to keep a steady exchange rate for yen. Even if there is a require for yuan respect, a high volatility of the currency’s exchange rate may remain avoided”, Wu Dan, a scientist at the Bank of China Research Institute, told the China Youth Daily, which is a paper published by the Communist Youth League.  ,  ,
She said, from a long-term view, chinese gratitude is good for China as the country can get more capital, import more goods and appreciate more room to use financial tools to improve its economy.  ,
She added that because they avoided purchasing the yen during the strong dollar time, Taiwanese manufacturers may have accumulated about US$ 500 billion in dollar-denominated property since 2022. She claimed that as the yuan increases, these businesses may now be given more incentives to sell their dollar assets to Chinese ones.  ,  ,
After the US Fed rate cut, Chinese companies may dump about$ 1 trillion of dollar-denominated assets, according to Stephen Jen, CEO of Eurizon SLJ Capital, and send some of it back to China. This could lead to a 5- to 10 % yuan appreciation.  ,
In the first eight months of this year, China’s exports rose 6.9 % to 16.45 trillion yuan ($ 2.33 trillion ) from the same period of last year while imports grew 4.7 % to 12.13 trillion yuan. The trade surplus expanded by 13.6 % to 4.32 trillion yuan.  ,
China’s trade with ASEAN countries increased 10 % year on year, and was up 1.1 % with the European Union and 4.4 % with the US over the same period. The increase was primarily attributable to increased shipment numbers of mechanical tools and electronic goods, which made up 59 % of China’s total exports.  ,
Chinese consumers benefit from seeing how much Yuan appreciation lowers their costs of purchasing imported goods. But it will at the same time hurt Chinese exporters”, an Inner-Mongolia-based columnist said in an article published on September 13.  ,
He claimed that the yuan’s appreciation has encouraged Chinese exporters to buy renminbi assets, but that the trend will also cause the Chinese currency to rise. He claimed that a downward spiral might lead to a” stampede,” which would indicate a sharp and unexpected increase in the renminbi, which would lower the volume of orders placed by Chinese manufacturers.  ,
The PBoC wants to slow the yuan appreciation in order to maintain export growth, but the scope for rate reductions is constrained because Chinese banks ‘ net interest margins ( NIMs) have fallen below the industry’s warning line of 1.8 %, which is in line with industry expectations.  ,
Chinese listed banks ‘ average NIM was 1.69 % last year, down 1.94 % in 2022 or 2.23 % from the pre-pandemic level in 2019. In accordance with an EY report, declining NIMs resulted in net interest income levels never before seen since 2017.
After the PBoC cut one-year and five-year LPRs by 10 basis points to 3.35 % and 3.85 %, respectively, in July 2024, the average NIM of major Chinese banks is expected to decline to 1.51 % for the whole year of this year, based on a Visible Alpha consensus.  ,
Zhou Lan, head of the PBoC’s monetary policy department, stated in a media briefing on September 5 that while there are some restrictions on cutting interest rates, Chinese banks can still reduce their reserve requirement ratios ( RRRs ) to help boost the economy.
He said the average RRR, the percentage of a banks ‘ total deposits that must be held in reserve, is around 7 % at present, compared with 15 % in 2018.
Read more: Germany invests more than China, but midstream companies leave.
Follow Jeff Pao on X:  , @jeffpao3
Aspire, a leading all-in-one fintech firm, has announced the development of its compliance, threat, and IT security groups, which have grown tenfold in the last 24 weeks. The company stated in a statement that this action supports its optimistic global development strategies while upholding the highest safety standards for its partners and clients.
It further stated that it is making significant investments in its worldwide compliance team, which has grown by a whopping 2 % in the last year. This development expands its breadth of knowledge to help consumers navigate global markets confidently. Aspire’s expansion into its global footprint, which was marked by the purchase of an MSO permit in Hong Kong, a significant step in the company’s expansion plans, is critical to compliance.
With two fresh strategic management meetings, the organization is also bolstering its compliance group. Summer Yu ( pic ) has been appointed global head of Compliance, and Tommaso Scarpa ( pic ) as head of Compliance ( Singapore ). Yu brings over 20 years of experience.
experience in international regulation at PayPal, Bytedance, and HSBC, while Tommaso’s prior experience includes serving as Group Head of Financial Crime at Currencycloud ( a Visa solution ). Both will play crucial roles in enhancing Aspire’s ability to adhere to compliance standards and improve its economic violence prevention framework.
Aspire has specialized groups that collaborate strongly with the Risk, IT Compliance, and Legal agencies to maintain a robust IT security framework in APAC, where a reportedly 20 % increase in economic crimes in the region has been reported over the past year.
The business has established an information security management program that is compliant with the most recent Standard requirements and is PCI-certified. Additionally, it has established a risk management strategy that includes regular reviews of IT and security risk exposures, to make sure that its operations are in line with its commitment to protecting information for its 20 000 world clients.
” A powerful compliance lifestyle sets the base of Aspire’s growth”, said Andrea Baronchelli, CEO of Aspire. ” As we gear up for important rise, we are building a group of the best business professionals. By investing heavily in our adherence, danger, and IT security teams, we maintain that Aspire not only meets but exceeds international regulatory standards, paving the way for a strong and sustainable potential”.
Aspire is a trusted spouse to Asia’s fastest-growing SMEs and companies. The business opened its first Financial Technology Excellence Hub in Singapore and was named one of CB Insights ‘ top 100 global fintech companies after obtaining a US$ 100 million ( RM425 million ) Series C funding round and achieving profitability in 2023.
He added that Amazon wants to “operate like the largest startup in the world,” which includes being” joined at the hip with your friends when inventing and solving difficult issues.”
Other businesses that are known for their “hustle culture,” quite as Bytedance, the parent company of TikTok, now require employees to work daily from the office, according to Mr. Ethan Ang, co-founder of Nodeflair, a tech talent platform.
Nevertheless, not all researchers agree.
Amazon’s shift is “quite unexpected” as it goes against the trend of hybrid work becoming normalised, said Mr Sachet Sethi, senior director of technology and change at recruitment firm Robert Walters Singapore.
A complete return to the office may make it challenging to find and retain talent. Some employees may have to commute long distances and work long hours, he said, which can also affect how many successful hours they work.
People may think that management mistreats and mistreats them. According to Mr. Sethi, they might even feel worn out or burned out due to having to work every day.
One of the world’s foremost experts on work institution, health, and well-being called “dinosaurs of our age” in an appointment with the Guardian.
” If you value and trust people to get on with their job, and give them autonomy – and flexible work is one of those – they’ll work better, you’ll retain them and they will be less likely to have a stress-related illness” , , said Professor Cary Cooper,  , who is known for coining the term “presenteeism”.
” If you micromanage, you wo n’t get productivity gains, and you wo n’t attract the next generation”.
One of the Amazon workers CNA spoke with claimed that the hybrid work environment, which some had joined the company during the pandemic, was what they were taught, and that the adaptation may take some getting used to.
But she also pointed out that , it is a “privilege” to have the option of working from home.
” I did n’t sign up for the job because it was hybrid”, she said.  ,
” I’ll just consider it and tackle it along the way,” I said,” of course, the change may disturb my lifestyle, it would upset some of the points I used to do.” If it really becomes quite a discomfort point, I’ll merely find another job that offers versatility”.
The new legislation would begin on January 2 of next year, according to Mr. Jassy, in order to provide the required lifestyle changes.
Given that many people have built a life around cross work, the individual who CNA spoke to claimed the lead time to make changes is “quite small.”
This could be “very, very disruptive”, in special for those whose schedules use specific pledges, he said.
Nodeflair’s Mr Ang said that while income and job opportunity are still the most important elements when choosing an company, the product’s data suggests that about 70 per cent of people treat hybrid work plans as “non-negotiable”.
A Chinese maker of handheld radios has taken a dig at walkie-talkies with its logo that exploded in Lebanon, claiming that it stopped producing the devices ten years ago.
At least 20 people were killed and 450 injured after thousands of walkie-talkies, some used by the armed party Lebanon, exploded across Lebanon on Wednesday.
The products, according to photos and video of the aftereffects of the invasion, appear to be IC-V82 transmitters made by Icom, an Osaka-based telecommunications company.
But Icom says it has n’t produced or exported IC-V82s, nor the chargers needed to operate them, for 10 years.
After hundreds of pager explosions allegedly linked to Chinese company Gold Apollo, which it is the second Eastern company to be involved in bombing incidents in Lebanon this month, at least 12 people died and more than 2,000 were injured in explosions.
Hsu Ching-Kuang, the leader of Gold Apollo, categorically denied that his business was connected to the attacks and that he had given his business name to a firm in Hungary called BAC Consulting, a source the BBC has been unable to reach.
Icom disclosed to the BBC that it was aware of reports that two-way radios with its branding had reportedly exploded in Lebanon, and that it was looking into the situation.
” The IC-V82 is a portable television that was produced and exported, including to the Middle East, from 2004 to October 2014. It was discontinued about 10 years ago, and since then, it has not been shipped from our business”, Icom said in a speech.
It is impossible to tell whether the merchandise shipped from our company because the production of the batteries needed to run the main product has also been discontinued. A image seal to distinguish fraudulent products was not attached.
Icom added that all of its microphones are produced in the same manufacturer in Japan and that authorized producers simply distribute the goods to foreign markets.
A sales representative from Icom’s US company previously claimed that the exploded radios in Lebanon appeared to be knockoffs made by the company, adding that it was simple to locate false types online.
The system is favoured by aspiring television providers and for use in social or emergency contacts, including by persons tracking storms or storms, he said.
It took the BBC a matter of hours to get Icom IC-V82s listed for sale in online sites.
At what point in the source network these products were hacked, and how. Additionally, it’s questionable whether some of them were simply used Icom IC-V82s or fakes, as Mr. Novak claimed.
Lebanon’s Annahar news on Wednesday said the Icom walkie-talkies were old phones.
According to a security cause speaking to a Reuters news agency, reports suggest that Hezbollah purchased the walkie-talkies that exploded five months ago.
Icom produces walkie-talkies and television devices for sea, aircraft and property users, and considers itself a “world head in the professional television market”, according to its website.
With countries like Japan, Taiwan, and China being home to big tech manufacturers that are frequently regarded as a standard of quality, Asia is regarded as a global hotspot for telecoms and technology.
BBC Verify investigated BAC Consulting, the firm linked to the pagers involved in Tuesday’s blasts, and found that the company has a single investor and is registered to a tower in the Hungarian money Budapest’s 14th area.
A further 13 businesses and one person are registered in the same building along with BAC. BBC Verify’s search of a financial information database, however, does not reveal that BAC has any connections to other companies or people.
Its CEO Cristiana Bársony-Arcidiacono said she knew nothing about the explosions. ” I do n’t make the pagers. I am just the intermediate. I think you got it wrong”, she told NBC.
Artificial CONTRACTS A version of the prosecution, which was reportedly cited by media reports, claimed that the 67-year-old magnate had instructed her accomplices to withdraw money and get it out of SCB’s system. The money was therefore hidden and used to settle business debts or be transferred abroad for fictitiousContinue Reading
On September 17, 2024, electronic pagers across Lebanon exploded instantly, injuring more than 2,700 people and killing 12 others. The following morning, another flood of explosions in the country came from detonating walkie-talkies. People of the violent party Hezbollah were reportedly the targets of the problems.
According to US officers cited by The New York Times, the pagers attack involved bombs that Israeli employees planted in the communications products. According to the report, Hezbollah had just ordered a package of pagers.
Quietly attacking the supply chain is hardly a new tactic employed in intelligence and military operations. According to a 2010 NSA inside document, the US National Security Agency intercepted computer hardware intended for international customers, inserted malware or additional surveillance devices, and then repackaged it for shipment to specific foreign customers.
This is different from gaining access to a certain person’s computer, as happened in 1996 when Israel’s Shin Bet allegedly injected bombs into a cellphone to mildly shoot a Hamas bombmaker.
Hezbollah, a lifelong attack of Israel, had increased its use of pagers in the midst of the Hamas assault on Israel on October 7, 2023. By shifting to somewhat low-tech communication products, including pagers and walkie-talkies, Hezbollah evidently sought an edge against Israel’s well-known intelligence in recording targets through their phones.
In addition to users, criminals, and the mobile phone company itself, I see mobile devices as the main tracking tool for both government and business entities as a previous cybersecurity professional and latest security researcher. Mobile phone scanning has thus helped to fight terrorism, find missing people, and solve crimes.
Likewise, wireless phone monitoring makes it easy for anyone to report a person’s most personal movements. This can be done for good, such as parental monitoring of children’s activities, assisting you in finding your vehicle in a parking lot, and promoting wicked interests like tracking a partner who is suspected of cheating on or tracking social activists and journalists. Perhaps the US military is still concerned about how its military might be able to be tracked by their phones.
Mobile machine tracking is accomplished in a variety of ways. First, there is the system location data that the phone generates as it passes nearby Crocodile devices or local cell towers, which law enforcement uses to imitate cell towers.
Additionally, there are the features that are integrated into the camera’s operating system or enabled by saved software, which users accidentally consent to by disobeying the computer’s protection plan or terms of service.
Sometimes, governments or other organizations sell the collected data for further person profiling and data mining. Additionally, modern smartphones come with Bluetooth, Wi-Fi, and GPS capabilities that can assist with tracking and capturing user movements both on the floor and via satellites.
Mobile devices may be tracked in real- or near-real-time. Popular technological methods include traditional stereo direction-finding techniques, using intelligence satellites or drones, deploying “man in the middle” tools like Stingrays to deceive mobile towers to catch and remove device traffic, or installing malware such as Pegasus, made by Jewish cyberarms company NSO to record a device’s location.
Using less advanced and less time-efficient methods, users may be able to determine general user locations based on their online activity. This can be done by using website logs or the metadata contained in social media posts, or by working with data brokers to obtain location data from apps that users might download to their devices.
Indeed, because of these vulnerabilities, the leader of Hezbollah earlier this year advised his members to avoid using cellular phones in their activities, noting that Israel’s” surveillance devices are in your pockets. Look at the phone in your hands as well as those of your children if you’re looking for the Israeli agent.
Researchers have shown how these features, often intended for the user’s convenience, can be used by governments, companies and criminals to track people in their daily lives and even predict movements. Many people still are n’t aware of how much information their mobile devices reveal about them.
Pagers, however, unlike mobile phones, can be harder to track depending on whether they support two-way communication.
A pager that only records messages is unable to provide a tracking signal for its owner. Therefore, Hezbollah’s use of pagers likely made it more challenging to track their operatives– thus motivating Israeli intelligence services ‘ purported attack on the supply chain of Hezbollah’s pagers.
After the 9/11 attacks, it became difficult for the technologically superior Western intelligence agencies to locate Osama bin Laden for years by using low-tech tactics and personal couriers while avoiding the use of mobile phones and digital tools.
In general, I think the adversary in an asymmetric conflict that employs low-tech strategies, tactics, and technology will almost always be able to compete successfully against a more powerful and well-funded foe.
The US military’s Millennium Challenge war game from 2002 is a well-known illustration of this anomaly in action. Among other things, the insurgent Red forces, led by Marine General Paul van Riper, used low-tech tactics including motorcycle couriers instead of cellphones to evade the Blue forces ‘ high-tech surveillance.
The Red team won the contest within 24 hours of the exercise’s start, forcing the exercise planners to controversially reset and update the scenario to ensure a Blue team victory.
Everyone is reminded that you can be and are likely to be tracked in various ways and for various purposes by terrorist organizations like Hezbollah and al-Qaida by not using smartphones.
Israel’s purported response to Hezbollah’s actions also holds a lesson for everyone. It demonstrates that any device in your life can be compromised by a hacker before you even receive it, in terms of cybersecurity.
Richard Forno is principal lecturer in computer science and electrical engineering, University of Maryland, Baltimore County
This article was republished from The Conversation under a Creative Commons license. Read the original article.
Employer repetitions deny meet protest
PUBLISHED: 19 Sep 2024 at 04: 52
Phiphat Ratchakitprakarn, the minister of labor, is assured that a new normal minimum wage increase to 400 baht will be implemented on October 1 along with measures to help the affected businesses.
The president’s remarks on Wednesday occur as the tripartite wage committee’s approaching meeting, which will discuss the proposed 400-baht minimum wage for the entire nation, is uncertain.
The pay commission, comprising employees, employers and the state, met on Monday to force the president’s 400-baht minimum wage plan.
But, five employers ‘ members did not show up, claiming they had different activities. On Friday, a new meeting is scheduled to examine the proposed income increase, which will use to businesses or factories with at least 200 employees.
According to Mr. Phiphat, the remaining members will continue with the discussion regardless of whether the companies ‘ members show up for Friday’s conference because a vote of two-thirds of the committee is required to follow the 400-baht wage policy.
” I’ll make every effort to get it done, and I think businesses are waiting for the pay raise.” I am aware that the companies will be impacted by the pay increase.
” I came from the business industry, and the businesses within our group may be affected significantly. We have about 30, 000 people, and the income does apply to 20, 000 of them. We accept the situation, “he said.
Mr. Phiphat expressed his hope that the companies ‘ staff will stop by to speak on the subject. The Finance Ministry is prepared to implement reduction procedures set to become announced on October 1, he said, and the limited salary increase is the best choice because it would reduce the impact on the businesses.
The secretary stated that the Administrative Court should hear from the affected parties and that he is not concerned if the pay increase is challenged, and that he is willing to bear the consequences because the policy is being put into place in good faith.
The company industry has stated that it is not willing to see a raise in pay. The state’s members should take advice from the municipal sub-committees on the income increase, according to Kurrigkrai Thiennukul, the head of the Federation of Thai Industries (FTI).
He claimed that when considering the issue, the national income committee should also consider economic indicators and the nation’s competitiveness into account.
According to Mr. Kriengkrai, the FTI has spoken with companies, and the wage increase may result in the closure of those who are already in difficult positions. Additionally, the FTI chair suggested a “pay by skill” solution and called on organizations to train employees in response to market demand.
” Half of the companies are n’t labour-intensive and are prepared to give 700-900 bass to qualified employees, except that those are hard to find. We may speak it out and fine-tune]the plan ] to avoid it becoming a conversation, “he said.
He claimed that the Sept. 16 meeting was called on short notice, defending the companies ‘ members who did not show up on Monday. He claimed that those members were unavailable because they had other businesses to visit. He dispelled the rumors that employers do not attend the meeting.
A crucial election assurance of the Pheu Thai-led government is raising the regular minimum wage. The government hopes to raise the salary by 2027 and by 400 ringgit during its first year in power.
A 400-baht everyday salary was approved by the bilateral committee on March 26, which became effective on April 13 in parts of 10 regions, including Phuket, Koh Samui, Surat Thani, Pattaya, Chon Buri, Chiang Mai City, and Bangkok’s Pathumwan and Watthana regions. It applied to tourism-related firms and four-star establishments with at least 50 people.
SINGAPORE: The National Trades Union Congress (NTUC) said on Wednesday ( Sep 18 ) it will provide S$ 2.5 million ( US$ 1.93 million ) to support migrant worker representatives in their welfare and training.
The money will be used to fund classes that will improve their ability to advance professionally within their organizations.
These courses are eligible only for Migrant Workers ‘ Centre ( MWC ) ambassadors, NTUC said in response to CNA’s queries.
Migrant workers “are like community representatives in their area and at their workplaces,” the statement continued.
They are experienced instructors who information and assist new workers , integrate into Singapore world.
They are also taught the fundamentals of employment rights, making them a good resource for other migrant workers to handle employment issues first.  ,
The ambassador system, according to NTUC, “helps clean the inclusion of newly-arrived migrant workers and provides real-time ground sensing ability.”
MWC will also provide funding for immigrant workers to organize activities and training sessions at the four NTUC Club and MWC operate, as well as to sponsor such activities.
MWC associate members may also get gift bags with daily essentials to help pay for their monthly rent, according to NTUC.  ,
” At NTUC, we believe that every employee deserves the opportunity to expand, thrive, and been appreciated, regardless of where they come from”, said NTUC Secretary-General Ng Chee Meng.
This S$ 2.5 million commitment reflects our commitment to improving the well-being and abilities of our immigrant workers. For instance, a portion of the funding will go toward supporting our Migrant Workers ‘ Centre ministers so that they will have the support and resources necessary for career advancement and a better quality of life.