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Artikel

4 Dez 2023

Autor:
By Quek Karl Yen, The Edge Malaysia (Malaysia)

Malaysia: Companies must comply with national & international standards to retain global market share & profitability

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“my Say: Building better labour practices in Malaysia: The urgency for compliance”

…Amir’s story mirrors that of countless workers in Malaysia, facing conditions that may unknowingly signal forced labour, according to the International Labor Organization (ILO)…

…Malaysian companies must comply with national and international standards to retain global market share and profitability, avoiding risks such as import bans, like the Withhold Release Order by the US Customs and Border Protection, that have a long-term impact on a business…

In November 2021, the Ministry of Human Resources released the National Action Plan on Forced Labour (NAPFL) 2021-2025…

… the revised Malaysian Sustainable Palm Oil (MSPO 2.0, updated in 2022) certification scheme now includes a criterion to “ensure no forms of forced or trafficked labour as well as child labour are used”…

We have already seen some prominent companies in Malaysia experience the repercussions of non-compliance…

Encouraging companies to adopt better labour practices necessitates understanding the significant benefits. Compliance shields a company’s reputation, enhances access to global market share, creates new business opportunities, increases profitability and attracts better investors. It reduces the risk of penalties and import bans and provides substantial long-term financial benefits…

Compliance is not merely about meeting the regulatory requirements but safeguarding the workforce’s well-being…