KUCHING: Malayan Banking Berhad and Kesatuan Sekerja Pegawai-Pegawai Bank Malayan Banking Berhad Sarawak (KSPPBMBBSWAK) have inked a Collective Agreement (CA) here Saturday.
The CA for the period Jan 1, 2024 to Dec 31, 2025 includes a revision of salaries, with all eligible executives receiving a 9 per cent salary adjustment along with a Festival Aid payment of RM1,500.
Reflecting a commitment to a pay-for-performance culture, the agreement imposes no cap on maximum salaries and enhancements to allowances and benefits, such as a 25 per cent increase for work on rest days and public holidays.
Medical benefits for employees with children who have disabilities have been increased, with outpatient treatment limits raised to RM2,200 and hospitalisation limits to RM11,000.
Furthermore, executives will enjoy a zero per cent interest rate on staff housing loans for the first RM150,000, including existing outstanding loans, subject to requirements that will be communicated in due course.
Maybank Group Chief Human Capital Officer Mazhatulshima Mohd Zahid said the signing of the CA represents the strength of collaboration, perseverance, and the beginning of a lasting and fruitful working relationship that will endure for years to come.
According to her, both negotiating teams have demonstrated remarkable dedication and patience in working together to achieve outcomes that benefit both parties, addressing the expectations and concerns raised.
“Today, we can all take pride in our collective commitment to the continued success of the Bank and its employees, as reflected in this CA, which was concluded amicably,” she said during the signing ceremony of the Memorandum of Agreement between Malayan Banking Berhad and KSPPBMBBSWAK here
“I would like to take this opportunity to commend everyone involved for upholding mutual respect throughout the negotiations and fostering an open dialogue where all perspectives were valued.
“Your collective efforts have not only strengthened our partnership, but also set the stage for continued collaboration and shared prosperity,” she said.
She said that as Maybank strives to Humanise Financial Services for the communities they serve, it is essential to begin from within.
This, she added, has brought to the improvements in its employees’ remuneration and benefits, as outlined in the CA.
“We have long appreciated that the well-being of our employees directly impacts the growth and productivity of the organisation.
“By taking a holistic approach to well-being, we aim to enhance not only income levels and job security, but also access to healthcare and overall quality of life
“It is my sincere hope that the enhanced packages within this CA will serve to motivate and empower each of you as we work together to achieve Maybank’s M25+ aspirations, laying a strong foundation for our continued success in the years to come,” she said.
The signatories of the CA were Mazhatulshima; Maybank Head Group Industrial Relations Datuk Brian Jit Singh; Maybank Regional Director for Region Sarawak Abang Jamili Abang Julai; KSPPBMBBSWAK President Raymond Kong Zek Fong; and Union General Secretary Dorrina Richard while witnessed by UNI Malaysia Labour Centre President Datuk Mohamed Shafie BP Mammal.
