Singapore Just Gave Malaysians A Very Good Reason To Start Working There
Good news?
By Tang Ruxyn — 05 Aug 2016, 07:20 AM
The qualifying salary for Singapore's Employment Pass (EP) applications will be raised from SGD3,300 to SGD3,600 beginning January next year
Singapore's Ministry of Manpower (MOM) announced this last week on 26 July.
"This change is part of the Ministry of Manpower's (MOM) regular updating of the EP qualifying salary to keep pace with rising local wages, maintain the quality of our foreign workforce and enhance their complementarity to the local workforce," the ministry was quoted as saying by Reuters.
The qualifying EP salary was last raised in 2014, from SGD3,000, and before that in 2012, from SGD2,800.
Any foreign professional with a managerial, executive or specialised job offer in Singapore who meet the eligibility criteria will have to apply for the Employment Pass (EP).
This would mean that Malaysians can expect their salary to be bumped up by at least RM900 there, compounded by the drop in the value of the ringgit — and that is surely an enticing offer
In fact, a survey by British recruitment firm, Hays, showed that about 9 out of 10 Malaysians are willing to leave the country in search of jobs and better experience.
The World Bank's 2015 report revealed that the number of Malaysians living in Organisation for Economic Co-operation and Development (OECD) countries has been increasing, from 121,000 in 1990 to 311,000 in 2010.
Additionally, 72% of Malaysians cited career opportunities as their main reason for living abroad in that survey.
The Star reported yesterday, 4 August, that Singapore's MOM move could draw more Malaysian professionals to take jobs across the causeway
It was reported that several local professionals, who were contacted by the English daily, cited two main reasons when considering to move and work in Singapore.
They said that the higher pay and drop in the value of the ringgit were the two main reasons why many Malaysians preferred jobs in the island republic.
"It is a good opportunity for me as I will be earning a lot more than here," said Amir Abdullah, an accountant who have received an offer from a company there.
Meanwhile, Johor South Small and Medium Enterprises advisor Teh Kee Sin urged Malaysian professionals to return and contribute to the Iskandar Malaysia development project instead
He said that the Iskandar Malaysia project, which is set to transform the southern region of Peninsular Malaysia, has plenty to offer to locals.
Teh admitted Malaysians would have high spending power when earning Singapore dollars after converting the pay into ringgit, however, there are also drawbacks of taking jobs there, including the expensive rent.
"Consider the other factors, such as having to commute between Johor Baru and Singapore, and the extra expenses incurred," he was quoted as saying by The Star.