99 Speed Mart Refutes Low Salary Claims & Says Some Branch Managers Make More Than RM4,000
The company stated that it goes beyond legal requirements by paying its employees more than the national minimum wage.
99 Speed Mart Retail Holdings Bhd, a recently listed convenience store chain, has refuted claims of paying low wages to its employees, asserting that its compensation structure is fair
According to the New Straits Times, 99 Speed Mart said it fully complies with the Employment (Amendment) Act 2022.
Chief operating officer Yong Eng Kwang said the company offers more than the national minimum wage of RM1,500 per month to its employees.
Yong said branch managers earn an average of RM2,387 a month, with long-serving employees earning over RM4,000 per month.
In addition to the basic wage, the company provides a comprehensive benefits package that includes annual salary increments, year-end bonuses, access to panel clinics with claimable medical visits, career growth and training opportunities, a free SIM card with 40GB of data and unlimited calls, and free food vouchers.
99 Speed Mart employees are also entitled to overtime pay, refuting claims that they are not compensated for extra hours worked
Yong added that employees are also entitled to 98 days of maternity leave, a minimum of seven days paternity leave, and Haj leaves, reported The Rakyat Post.
He stated that employees also receive EPF and SOCSO benefits.
The company currently employs 22,000 staff members across 2,684 outlets nationwide.
Yong mentioned that the company recognises its workforce as the backbone of 99 Speed Mart and is committed to their wellbeing.
"We also understand the financial pressures many people are under these days, which is why we work tirelessly to keep our prices low, ensuring that essential goods remain affordable for everyone," he added.
Yong's response comes after netizens took to X to complain about the alleged low wages offered by 99 Speed Mart to its employees
This follows 99 Speed Mart's debut on Bursa Malaysia on Monday, 9 September, where it recorded a 12.1% increase over its initial public offering (IPO), making its founder, Lee Thiam Wah, one of the top 10 richest Malaysians.
A person claiming to be a former assistant branch manager alleged they were not paid overtime, received no salary increments, and were not given a petrol allowance for trips to the bank to deposit money for the outlet.
Another netizen complained that a branch manager or assistant branch manager earned less than RM2,800 a month, with further deductions for product losses.
Some netizens also shared job vacancy posters showing that the convenience store chain offered a monthly salary of RM1,200.
99 Speed Mart clarified that the job vacancy posters and the listing on Indeed, a job market site where users can publicly share their salaries, are outdated, with some being at least five years old.
Image via X
99 Speed Mart was valued at RM16.04 billion after its debut on Bursa Malaysia on Monday:
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