Why does PIKM say the security sector cannot afford higher guard wages?

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The Security Sector Claims Inability to Afford Higher Guard Wages

The Malaysian Security Industry Association (PIKM) has stated that the security sector cannot afford to pay higher wages for security guards. This assertion suggests that the current economic structure and operational costs within the industry prevent an increase in compensation for its workforce. The association's position implies that any mandated wage hike would pose a significant financial burden on security companies.
Financial Constraints Cited by PIKM

PIKM has put forth the argument that the security industry is not in a financial position to absorb the costs associated with increased wages for security guards. This claim indicates that the revenue generated by security firms may be insufficient to cover higher payroll expenses without jeopardising their operational viability. The specific financial details or cost breakdowns supporting this assertion have not been elaborated upon.
Broader Industry Pushback on Minimum Wage Increases

The concerns raised by PIKM are part of a wider pattern of opposition from various industry groups regarding minimum wage adjustments. For instance, the Malaysian Employers Federation (MEF) has previously voiced its opinion that higher minimum wages primarily benefit foreign workers and could lead to increased capital outflow from the country. Such sentiments highlight a general reluctance within certain business sectors to implement mandated wage increases.
Economic Realities and Wage Discrepancies

The debate over wages in Malaysia touches upon significant economic disparities, where a considerable number of workers struggle with daily subsistence on low incomes. The current minimum wage of RM1,500, for example, is described as being close to the poverty line for a family in Kuala Lumpur. This situation is contrasted with the lifestyles of top company directors who can afford luxury vehicles and frequent international travel, illustrating a substantial gap between the earnings of the highest and lowest paid individuals in the workforce.

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Why does PIKM say the security sector cannot afford higher guard wages?

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