RHB delivers on living wage, focuses on employee well-being and growth
The commitment supports the Finance Ministry's call for financial institutions and Government Linked Companies (GLCs) to lead in advancing fair compensation, aligned with the 'Raise the Floor' pillar of the Ekonomi Madani framework to improve quality of life for all Malaysians.
RHB's full implementation of the Living Wage framework reflects its commitment as a responsible employer and its role in supporting Malaysia's broader efforts to improve the standard of living of the rakyat.
'At RHB, fair pay is a fundamental part of building a progressive and inclusive workplace. Our compensation practices reflect this but our duty goes further. Our Employee Value Proposition is designed to support our employees holistically, ensuring their physical, emotional and financial well-being, in a meaningful and practical way.
'This commitment is reflected in our employee engagement score which stands at 87%, a strong indicator of the trust and connection our people have with the organisation,' said RHB Banking Group managing director and chief executive officer Datuk Mohd Rashid Mohamad.
In addition to the living wage commitment, mental health and wellness remain core areas of focus in RHB.
The Group provides access to free confidential professional counselling and emotional support services through its Employee Assistance Programme, available to all employees Group wide. These are complemented by regular mental health webinars and awareness initiatives that help employees manage stress, strengthen emotional intelligence and maintain work-life balance.
In 2024, RHB introduced a digital health platform offering personalised coaching, wellness tracking and lifestyle incentives, further strengthening its holistic approach to employee wellbeing.
Employees also benefit from targeted financial support, including festive advance programmes, preferential rate staff loans and a dedicated Staff Welfare Fund for emergencies or personal hardship. Comprehensive medical coverage, robust insurance protection and flexible leave policies further contribute to a work environment that supports both individual and family well-being.
'We recognise the complex pressures in today's world, emotionally, financially and professionally. Our responsibility is to support them in all dimensions, not just through compensation, but through care, flexibility and long term opportunities to grow,' Mohd Rashid explained.
RHB continues to invest in structured career development to future proof its workforce. In 2024 alone, the Group delivered over 390,000 hours of learning, averaging 29 hours per employee, with more than 13,000 employees participating in programmes covering digital transformation, sustainability, leadership and core technical skills. These efforts align with national priorities to create high quality jobs and strengthen social mobility.
'Our people are our greatest asset. When they thrive, our customers, communities and the nation thrive with them,' he added.
RHB will continue to refine its people strategies to ensure long-term impact, for employees and the communities it serves, contributing to Malaysia's aspirations for sustainable and inclusive economic growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
MAXIS POWERS UP HOME SOLAR
MALAYSIA, a land blessed with year-round sunshine and a tapestry of rooftops, possesses an often underutilised natural resource – solar energy. While the nation drives towards the National Energy Transition Roadmap (NETR) goals, to achieve 70% renewable energy installed capacity by 2050, a critical piece of the puzzle – accessible home solar energy – has lagged. This is precisely the gap that integrated telecommunications provider Maxis Bhd aims to fill with its innovative Maxis Home Solar package, launched in 2024, and expanded across Peninsular Malaysia earlier this year. 'The reason why solar energy adoption is not moving forward as fast is that people are still unsure. 'They would ask: 'Do I have to invest thousands of ringgit?' or 'Am I going to get the value for that money?'', said Maxis Green Solutions director and Maxis chief people and transformation officer Patrick Er. 'We feel that there is still a way to give worry-free experiences for Malaysians. 'Not everybody is comfortable with making such big upfront investments,' he added, highlighting the intention of Maxis Home Solar – to de-risk solar adoption and empower more households to embrace cleaner energy alternatives. A household name connecting millions daily, through its mobile and fibre solutions for consumers, homes and businesses, the company realised its expertise and experience in customer service and reliability could be a game-changer in unlocking home solar market potential. 'Our roofs could be doing more. We need to think of them as prime real estate for solar energy,' said Er. — RAJA FAISAL HISHAN/The Star Maxis Home Solar The move to solar is a natural extension of Maxis' converged home solutions ecosystem. As part of its broader push into home solutions across fibre broadband and a wide range of devices, solar is the 'next piece' in the mission to improve lifestyle experiences through technology. Er said that Maxis Home Solar is built on a 10-year subscription model, with a low RM1,000 upfront payment, to address consumer apprehension about solar energy. 'Customers can opt for a fixed rate, which most prefer because there is less uncertainty, or a consumption-based rate based on the amount of energy produced.' The fixed-rate options provide unparalleled peace of mind, locking in rates for a decade (even if tariff rates increase), after which the solar assets are fully transferred to the homeowner. To ensure quality and reliability, Maxis exclusively utilises Tier 1 solar panels and inverters and provides insurance coverage for the system. But the difference that Maxis offers extends far beyond just hardware, as Er explained that the company's comprehensive support sets Maxis Home Solar apart from fragmented market offerings. 'We ensure that what we install will be around for a very long time, and we are happy to choose only the best products for our customers. 'On top of that, we will also monitor the system for you. If maintenance or repairs are required, we will conduct them as needed and even handle warranty claims where necessary. 'So, over the subscription period, you do not have to worry about anything,' said Er. Sustainable energy consumption Leveraging its deep expertise in network operations, Maxis extends this capability with its remote energy monitoring system, enabling the company to proactively identify and rectify any performance issues. 'At one point, we found that about 15% of installations were not optimal, where certain panels were not producing the desired amount of energy. When we saw this, we were able to quickly address it. 'We have already learnt a lot since launching this service. If we were to just install the systems and 'walk away', we would not know if your house had not been generating power optimally,' said Er. He explained that this vigilance allows Maxis to identify issues impacting panel performance, ensuring reliable and consistent performance in customers' solar energy systems. Looking ahead Moving forward, Maxis sees significant potential beyond residential homes, with interest from commercial and industrial sectors, and a keen eye on East Malaysia, should a scheme such as Net Energy Metering (NEM) be made available there. Er believes that reaching the NETR goal necessitates 70%-80% of landed homes adopting solar, making the case for home rooftops as a viable alternative to vast solar farms. 'If you look at the last 10-15 years, solar adoption is less than 5% of households nationwide, and I do not think that we would want to wait another decade or more for minimal growth,' said Er. 'Our roofs could be doing more. We need to think of them as prime real estate for solar energy.' When asked about the future of the NEM scheme, Er states that the hope is for the scheme to continue to thrive and evolve, potentially increasing the adoption rate of solar energy among more households. 'The government has done an excellent job in supporting solar adoption, and I believe that withcontinued commitment, we can push this even further. In the long term, it's a win-win for everybody,' he said. 'I am confident that we are one of the few companies that can make this ambition come to pass.' For those hesitant about making the switch to solar, Er opines that there is 'no downside' to adopting renewable energy solutions. 'With Maxis Home Solar, there is low risk. Coupled with the low barrier of entry, it could create almost instant savings. And, at the very least, you will be doing your part to protect the environment,' said Er. In all, Maxis Home Solar is not just about providing clean energy but also simplifying complex technology and driving Malaysia towards a sustainable, connected future, one rooftop at a time. For more information, visit
Focus Malaysia
2 hours ago
- Focus Malaysia
Coherent SST reform requires zero exemptions for policymakers
THE Malaysian government's recent changes to the Sales and Service Tax (SST) are true to an at least decade-old tradition of self-defeating consumption tax policies. Raising taxes is a thankless but necessary task that requires astute policy design and nuanced messaging to manage both economic and political narratives. Both the 1 July changes and the case for them have left policymakers open to justifiable but needless criticism. Malaysian policymakers have long recognised the need to significantly increase revenue collections but have struggled to convince Malaysians. Tax reforms repeatedly adopt a narrow, small-target strategy that—by lacking both vision and tangible economic sustainability and equity objectives—instead become lightning rods for critics. Malaysians worried about their household budgets naturally fear higher taxes and do not count fiscal sustainability among their chief concerns. Making the case for consumption tax reform needs and deserves better than pointing to unsustainable budget deficits and delivering patronising rebukes of SST critics. It requires a consistent, coherent and non-condescending narrative that garners public support for changes that will improve not threaten their livelihoods. Policymakers should be explaining the importance of taxing consumption, how it supports a tax strategy that balances fairness, competitiveness and sustainably, and how the money raised will be used to benefit Malaysians. Consumption taxes have advantages that are especially relevant to Malaysia's circumstances. Malaysia has a large visiting and undocumented population whose income cannot be taxed but whose consumption can be. It has a sizeable informal sector contributing around a quarter of gross domestic product, whose income likewise escapes direct taxes but whose inputs may be partially captured by consumption levies. Shaping consumption choices through price signals will be essential to making Malaysia's future economic development less carbon intensive and more sustainable. Consumption taxes progressed alone cannot address Malaysia's revenue needs or be implemented equitably. Consumption taxes are regressive as low-income households consume more of their disposable incomes and therefore experience a greater relative impact. Attempts to neutralise these impacts by exempting or setting to zero the rate for basic goods introduces complexity for businesses and consumers, exempts rich and non-Malaysian consumers at the same time, and opens policymakers to arguments of inconsistency or bias. Accompanying changes to income taxes, transfers or welfare for low-income households would be a superior approach. Malaysians would be more receptive to tax hikes if their purpose were more tangibly linked to spending for their benefit. Public wariness remains high in the shadow of 1MDB and other newsworthy examples of funds being misused, with the government's fiscal challenges explicitly associated with corruption. At the same time Malaysians want better schools and hospitals, greater access to safe and efficient transport and technology, more generous social welfare and more. Transparent and well communicated spending intentions are an essential enabler of tax reform. The SST reforms have thus far been mapped poorly in these regards. Far from presenting a coherent vision for equitably, efficiently and sustainably raising revenue to spend in the interests of Malaysians, the reforms adopt a piecemeal and discriminatory approach to taxation. Two particularly concerning elements that have attracted fair criticism are the inclusion of basic goods and differential rates for local and imported goods. Malaysia is a net importer of food including many staple products, with openness to trade a critical contributor to food security both at the household and national levels. SST increases that represent an implicit import tariff, especially on basic and healthy goods like fruit, send precisely the wrong signal at a time when Malaysia is trying to counter global economic policy uncertainty. Malaysia must reinforce its openness to trade and investment by avoiding discriminatory taxes on overseas goods. Bowing to public backlash to provide post-announcement tax exemptions for imported apples and oranges (among other changes) further illustrates the policy development and communication shortcomings. Policymakers were either unaware of or misread public sensitivity on the price and availability of basic food imports, and in the absence of a compelling defence for the proposed SST increase were forced to make concessions. Evident is both a need for wider consultation and that complex and subjective tax design leaves policymakers exposed. Making the case for tax reform in Malaysia should also stick to message not mechanism. Long-running arguments comparing the SST with a restored GST are of greater distraction than consequence to the current debate. Either mechanism can be tailored to achieve comparable coverage and revenue outcomes, and tax incidence (who ultimately pays: consumers or producers) is determined by markets not tax design. Differences in administrative efficiency and effectiveness are important considerations that are adaptable to a consumption tax with either (or any) name. What Malaysia needs from policymakers is greater tax policy reform coherence, communication and ambition. And the leadership to design and deliver tax strategies and mechanisms that benefit Malaysia and Malaysians. ‒ July 2, 2025 Dr Stewart Nixon is the deputy director of research at the Institute for Democracy and Economic Affairs (IDEAS). The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia. Main image: Bigstock
Focus Malaysia
6 hours ago
- Focus Malaysia
Demand for edible oils remains resilient and predictable
THE top palm oil producer, Indonesia, suffered poor yields in calendar year 2024 (CY24) causing palm oil prices to trade above soyabean oil for over half the year during CY24. 'As harvest is recovering this year, palm oil prices have since reversed to trade at discount against soyabean oil from Apr CY25 onwards,' said Kenanga Research. Consequently, CY25 crude palm oil (CPO) prices should ease from RM4,212 per MT in CY24 to RM4,100 in CY25 and RM4,000 in CY26 but stay firm due to overall supply tightness in the international edible oil market. A CY25 supply deficit looks increasingly likely with tightness to spill over into CY26. Oilworld's latest edible oil supply growth forecast of 2% for CY26 concurs with Kenanga's earlier view that trend-line demand growth of 3%-4% a year looks set to outstrip supply not only in CY25 but into CY26 as well unless a bumper harvest eventually emerged. Hence, our expectation of firm to elevated edible oil prices over CY25-26. Once the fastest growing oil crop, palm oil output growth started to moderate from around CY19 onwards. This is in part, due to ESG concerns over de-forestation but Indonesia was also starting to run out of good suitable land for oil palm planting while Malaysian oil palm area actually started shrinking since CY20s. Whilst valuations appear to have bottomed out and are not excessive, there is no strong upside catalyst either. Therefore, our NEUTRAL call thus hinges on firm CPO prices. Approximately 70% of edible oil made it into our food chain with c.23% as bio-fuel. As such, edible oil demand is quite visible, resilient and with trend-line demand growth of 3%-4% yearly. Meanwhile, supply is expected to grow by only 2%-3% over CY25-26; hence, edible oil prices including that of palm oil will probably stay sufficiently firm. Overall, we expect non-integrated planters to become increasingly dividend-yield plays. For larger integrated players, we expect more M&A or diversification into non-plantation businesses – hence likely to stay net borrowers. Even so, as the balance sheet of integrated players such as IOI, KLK and SDG are backed by valuable land bank, their current gearings levels should not be a key concern to investors. Margins should stay healthy. Firm CPO and strong PK selling prices are expected to help absorb most of the cost upticks in CY25; hence, upstream margins are expected to stay healthy. Downstream margins which stayed disappointingly soft in 1QCY25 is likely to remain so for the next quarter or two. Altogether, CY25 margins should stay robust thanks to upstream operations. —July 2, 2025 Main image: Palm Oil Alliance
