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Free Malaysia Today
8 hours ago
- Business
- Free Malaysia Today
Ex-VP of GLC awarded RM1.3mil for wrongful dismissal
The Kuala Lumpur Industrial Court awarded RM1.3 million to Syed Agil Syed Hashim for wrongful dismissal by Malaysian Bioeconomy Development Corporation. (Facebook pic) PETALING JAYA : A government-linked company has been ordered by the Kuala Lumpur Industrial Court to pay RM1.3 million in compensation to its former vice-president for wrongful dismissal. The Malaysian Bioeconomy Development Corporation Sdn Bhd is the government's lead development agency for the bio-based industry in Malaysia. Its termination of claimant Syed Agil Syed Hashim's employment was initially upheld by another industrial court in 2023. However, the Kuala Lumpur High Court quashed that award in January and ordered that a new chairman preside over the case for the sole purpose of determining the quantum of compensation payable. Court chairman Pravin Kaur Jessy, who took over the case, noted that the High Court had in its ruling made a finding that the claimant was dismissed without just cause of excuse in 2020, after 14 years of service. Syed Agil, who started his job in 2006 with a basic salary of RM14,000 a month, was earning RM39,600 when asked to leave in 2020. 'By virtue of this finding, it necessarily follows that the claimant's employment was not on a fixed-term basis but was permanent in nature. 'This court therefore accepts that the claimant was in continuous and permanent employment for a period of 14 years, until his dismissal on September 30, 2020,' Pravin said in the award handed down on June 19. She also noted that her sole task, as ordered by the High Court, was to assess the appropriate compensation payable in lieu of reinstatement and back wages. Pravin said the claimant was entitled to 14 months' wages as compensation in lieu amounting to RM554,400, based on his final drawn basic salary. For back wages, she awarded 24 months' salary, amounting to RM760,320, after a 20% deduction for post-dismissal earnings. The total award comes to RM1,314,720. She also ordered the company to settle all statutory contributions to the relevant authorities within 30 days of the award. Nur Zur'Ain Mat Ramlee appeared for the claimant, while Abdul Aziz Hamzah represented the company.
The Star
15-05-2025
- Business
- The Star
Malaysia, Japan ink RM1.34bil green bioeconomy deals at Expo 2025 Osaka
Bioeconomy Corp chief executive officer Mohd Khairul Fidzal Abdul Razak KUALA LUMPUR: Malaysia and Japan reached a new milestone in their green bioeconomy partnership with the signing of three strategic agreements worth RM1.34 billion on May 12 at Expo 2025 Osaka in Japan. In a statement today, Malaysian Bioeconomy Development Corporation (Bioeconomy Corp) an agency of the Ministry of Science, Technology and Innovation (MOSTI) said the signing is in conjunction with launch of the MOSTI Week which is a step forward by both nations to drive the low-carbon and bio-based economy agenda, in line with global sustainability commitments. "The collaborations involve the development of renewable energy and the commercialisation of sustainable biotechnology products, aligning with the aspirations of the National Biotechnology Policy 2.0 and global sustainability goals," it said. Bioeconomy Corp chief executive officer Mohd Khairul Fidzal Abdul Razak said Japan's selection as Malaysia's strategic partner in innovation and technology reflects the strength of global cooperation to advance green economic growth and address global climate challenges. "Malaysia is proud to showcase the nation's bioeconomy potential to the global market through strategic collaborations such as this. "While leveraging Japan's expertise in green innovation, BioNexus status companies and those under the Bio-based Accelerator (BBA) programme are well positioned to drive transformation in renewable energy, sustainable agriculture, and biobased products," he said. The first agreement involved renewable energy company reNIKOLA Holdings Sdn Bhd and Japan's Sumitomo Corporation to explore a joint venture in developing renewable fuels. In the second agreement, Malaysia's bioenergy company MTC Orec Sdn Bhd and IHI Plant Services Corporation entered into a collaboration for the development of biogas technology in Southeast Asia. In the third case, BioNexus status company Glyken Bio Products Sdn Bhd signed a memorandum of agreement and supply contract with Japan's Respect Co Ltd for the distribution of its bird's nest glycopeptide-based products in the Japanese market. Mohd Khairul Fidzal said the collaborations also reflect the alignment between Malaysia's commitment to sustainable innovation and the theme of the expo, 'Designing Future Society for Our Lives'. "It's not just about accelerating market access and technology transfer, but also about creating opportunities for the joint development of solutions to address climate change, energy security and economic resilience," he said. - Bernama
