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13/11/2019

Glove makers show they care about foreign workers’ welfare, enhance code of conduct

PETALING JAYA: The Malaysian Rubber Gloves Manufacturers Association (Margma) passed three resolutions at extraordinary general meeting on Nov 9 to adopt and enhance its code of conduct with regard to the treatment of migrant workers in the industry.

At a media briefing, Margma president Denis Low Jau Foo said the code of conduct is to help the association’s members adhere to good social compliance practice as guided by the International Labour Organisation (ILO) and Supplier Ethical Data Exchange (Sedex) standards.

“The resolutions that were passed were that the members adopt the Code of Conduct on Social Compliance, the members are to join Sedex and participate in the SMETA audit programme for social compliance within 12 months, and for our members to adopt the Zero Cost Policy for the recruitment of foreign workers with immediate effect,” he said.

SMETA, or the Sedex Members Ethical Trade Audit, is an ethical audit format which reports on Sedex’s four pillars of labour, health, safety and environment in reflecting good business ethics.

“I would say there has been a tremendous improvement seen in compliance with the code. In view of the continuing emphasis on social compliance, on human rights, on protecting the environment, Margma has taken up the challenge to do better in this area.

“The big players have already improved and complied, and the process of auditing is ongoing. We are confident that the glove industry will move forward strongly and we want to be a good role for the industry,” said Margma past president Datuk Lee KM.

Low estimates that about 80% of Margma members are part of Sedex, but eventually all members will have to comply with the code of conduct. Margma has 58 ordinary members and 165 associate members.

On social compliance with regard to engaging a migrant worker, Low said some of its members are already practising the Zero Cost Policy, in which they ensure that a migrant worker will be free of debt when the person comes to work in Malaysia.

“There have been calls for us to take this policy on retrospectively for workers who are already in the country, but we will not be doing so, as that is not fair and it would be very difficult for us to quantify that cost,” said Low.

He also said glove makers will no longer be keeping their workers’ passports, but instead will provide secure lockers and individual keys for the workers to keep their passports and other personal documentation.

As for overtime work, Low said this will be capped in accordance with ILO standards.

“If there is overtime in excess, it will have to be on a voluntary basis and there will be one day of rest in the week for workers as well.”

13/11/2019

Glove makers show they care about foreign workers’ welfare, enhances code of conduct

PETALING JAYA: The Malaysian Rubber Gloves Manufacturers Association (Marg-ma) passed three resolutions at extraordinary general meeting on Nov 9 to adopt and enhance its code of conduct with regard to the treatment of migrant workers in the industry.

At a media briefing, Margma president Denis Low Jau Foo said the code of conduct is to help the association’s members adhere to good social compliance practice as guided by the International Labour Organisation (ILO) and Supplier Ethical Data Exchange (Sedex) standards.

“The resolutions that were passed were that the members adopt the Code of Conduct on Social Compliance, the members are to join Sedex and participate in the SMETA audit programme for social compliance within 12 months, and for our members to adopt the Zero Cost Policy for the recruitment of foreign workers with immediate effect,” he said.

SMETA, or the Sedex Members Ethical Trade Audit, is an ethical audit format which reports on Sedex’s four pillars of labour, health, safety and environment in reflecting good business ethics.

“I would say there has been a tremendous improvement seen in compliance with the code. In view of the continuing emphasis on social compliance, on human rights, on protecting the environment, Margma has taken up the challenge to do better in this area.

“The big players have already improved and complied, and the process of auditing is ongoing. We are confident that the glove industry will move forward strongly and we want to be a good role for the industry,” said Margma past president Datuk Lee KM.

Low estimates that about 80% of Margma members are part of Sedex, but eventually all members will have to comply with the code of conduct. Margma has 58 ordinary members and 165 associate members.

On social compliance with regard to engaging a migrant worker, Low said some of its members are already practising the Zero Cost Policy, in which they ensure that a migrant worker will be free of debt when the person comes to work in Malaysia.

“There have been calls for us to take this policy on retrospectively for workers who are already in the country, but we will not be doing so, as that is not fair and it would be very difficult for us to quantify that cost,” said Low.

He also said glove makers will no longer be keeping their workers’ passports, but instead will provide secure lockers and individual keys for the workers to keep their passports and other personal documentation.

As for overtime work, Low said this will be capped in accordance with ILO standards.

“If there is overtime in excess, it will have to be on a voluntary basis and there will be one day of rest in the week for workers as well.”

13/11/2019

BTM Resources to venture into LPG business

PETALING JAYA: BTM Resources Bhd is partnering with Markmore Energy (Labuan) Ltd (MELL) for the proposed production of liquefied petroleum gas (LPG) from natural gas supplied from the Rakushechnoye oil and gas field. The move is aimed at diversifying and expanding its source of income.

A head of agreement (HoA) was inked between the two parties to set out essential terms and conditions for the participation.

Under the agreement, a LPG production plant and gas processing facility with a capacity of 100 million standard cu ft per day will be constructed. BTM agrees to bear the cost and expenses relating to the engineering, design, procurement, construction and commissioning of the LPG plant.

BTM will be entitled to up to 116 metric tons per day of LPG and 3,700 barrels per day of condensate produced at the plant which is expected to result in a minimum return of 12% per annum for the project.

MELL will undertake to exclusively supply natural gas from the Rakushechnoye oil and gas Field for processing at the LPG plant.

BTM, which is involved in wood-based industry, has been hit by higher production cost and lower profit margin of wood products.

“The board believes that the proposed LPG production would contribute positively to its future earnings and improve the financial position of the group. The additional revenue from the proposed LPG production is expected to enhance the company’s profitability and returns on shareholders’ funds.”

In order to maximise BTM’s payback period for its investment in the deal, MELL will procure gas supply at a preferential rate of US$1.00 (RM4.15) per MMBTU to the LPG plant together with a profit guarantee.

13/11/2019

Maybank to boost financial literacy through award programme

KUALA LUMPUR: Malayan Banking Bhd (Maybank) yesterday hosted its inaugural Maybank Financial Education Excellence Awards and plans to expand this award progressively across markets where the programme is being run in the coming years.

The award programme aims to highlight and recognise schools, educators and students who have displayed dedication and extraordinary efforts in promoting and championing financial literacy in the country as well as to further create awareness about the importance of financial literacy among the young.

The awards are a continuation of Maybank’s Cashville Kidz (CVK) financial literacy programme, which was launched in 2013 in collaboration with financial education company MoneyTree. CVK is a flagship programme under the education pillar of Maybank Foundation.

Maybank Foundation CEO Shahril Azuar Jimin said the CVK programme is conducted in six countries namely Malaysia, Cambodia, the Philippines, Indonesia, Singapore and Myanmar, benefiting over 200,000 students in more than 900 schools. In Malaysia, the CVK programme has been recognised as an official extra curricular activity by the Education Ministry.

“We believe in the importance of developing and nurturing good financial habits from a young age, hence the introduction of the CVK programme as part of providing a holistic financial solution to the communities we serve in. The CVK programme is a comprehensive financial education platform which is easily replicated and up-scaled in other countries,” said Shahril.

The programme depicts a cartoon series designed to teach school students between the ages of nine and 12 about the importance of good money management habits, in order to prepare them for future financial challenges.

The three categories of awards introduced at the Maybank Financial Education Excellence Awards ceremony were Best School Award, Best Educator Award and Best Student Award, which went to SK Kerubong, Malacca, Jamilah Mohamad (SK Kerubong, Malacca) and Nur Khairina Alya Noor Azwan (SK Dato Demang Hussin, Malacca) respectively.

The awards also serve to encourage and foster deeper participation among the various stakeholders involved in the financial education field in line with the government’s efforts to uplift the level of financial literacy among Malaysians through the National Strategy for Financial Literacy 2019-2023.