The 154% rise in the levy for foreign workers in the plantation sector has taken a toll on oil palm stocks whose landbank is concentrated in Malaysia.
Due to the labour-intensive nature of the industry, the rise in the levy from RM590 to RM1,500 per month will see planters forking out an additional RM910 per worker.
This is based on the feedback from industry players, who expect the impact to be felt in their bottom line this year.
Yesterday, major plantation companies that are part of the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) were among the largest decliners on the exchange.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
Due to the labour-intensive nature of the industry, the rise in the levy from RM590 to RM1,500 per month will see planters forking out an additional RM910 per worker.
This is based on the feedback from industry players, who expect the impact to be felt in their bottom line this year.
Yesterday, major plantation companies that are part of the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) were among the largest decliners on the exchange.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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