KUALA LUMPUR: Bank Negara Malaysia (BNM) is refuting a news report published on April 4, which said that its analysis on the living wage suggests that Malaysians are poor. In a statement today, the central bank said the living wage was a benchmark on the income needed to attain a minimum acceptable living standard. It said the living wage mainly served as a guide for employers to consider paying employees according to the needs of a minimum acceptable living standard. “The living wage does not supersede the relevance of the current minimum wage of RM920 - RM1,000. The minimum wage is legally binding and aims to address the basic needs of households,” it said.

Source: New Strait Times April 06, 2018 14:15 UTC