00:00If we want to be a high-income country, our workers' salaries must increase.
00:07So this is the main point in the 2025 spending.
00:12In the 2025 spending, we see that two main efforts to increase salaries and income of the people.
00:21Firstly, we see that the government has increased the salaries of public servants by 13%.
00:31This is the largest in the history of Malaysia. Congratulations to the government.
00:36Secondly, the government has also increased the minimum wage from Rp 1,500 to Rp 1,700.
00:43Also, 13% shows the equality and justice given not only to public servants but also to private workers in Malaysia.
00:57I support the government's efforts to increase the salaries of both public servants and private workers.
01:04Salaries among Malaysians are too low. We are trapped in the middle-income trap for too long.
01:10This is the best opportunity for us to increase their salaries.
01:15Actually, according to the share of employee compensation in CE in Malaysia,
01:22we still have room because we are still in the range of 35%,
01:29and we have the opportunity to increase to 40%, 45% or 50% in CE.
01:42The second issue that I want to raise is co-prosperity.
01:48In the budget, PMX mentions Thomas Piketty, who has a very famous book entitled Capital in the 21st Century.
01:58Thomas Piketty found that those who have capital are more likely to get profits than those who have salary.
02:07Co-prosperity in corporate companies and those who have capital also happens in Malaysia.
02:14I will give an example.
02:16If someone has capital of RM10,000 in 2000,
02:23if he invests the RM10,000 in stocks such as Petronas Dagangan, Maybank, Hong Leong Bank, Selkom Digi or Public Bank,
02:36the investor will become a millionaire today.
02:42Because in the past 25 years, their stock has increased by 10,000%.
02:49Similarly, the country's wealth investment is also in large companies.
02:55For example, the profit of a large company, Maybank, in 2022 was RM7.9 billion net profit.
03:03In 2023, RM9.35 billion net profit.
03:07In 2023, RM17.4 billion net profit.
03:12In 2022, RM0.81 billion net profit.
03:18In 2023, RM1.84 billion net profit.
03:22RM127 billion net profit.
03:26Therefore, those who have capital will become richer.
03:29As ordinary people, we only hope for wages.
03:32We do not have capital to invest and get returns.
03:37Our wages have been used up 100% for daily life.
03:42So how do ordinary workers get extra capital to invest?
03:47So I want to suggest, I always think about how to help our people get capital so that they can invest,
03:56so that they can get better returns.
03:58So I want to suggest a 13-month salary system.
04:07This means that in December every year, for example,
04:12workers are paid a two-month salary.
04:16The first salary can be paid with normal expenses.
04:22But the second salary can be used for investment or large expenses such as back to school and so on.
04:29This 13-month salary system is used by many half-corporate companies.
04:36But it is not widely used in Malaysia.
04:39Overseas, there are many.
04:41I want to suggest the 13-month system to private companies and governments to think about
04:48whether it can be used to help our workers have capital to invest and so on.
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