Budget 2027 outlines wage and housing measures for urban households
SEAFIC highlighted support spanning pay, home financing, food purchases and social protection for middle- and lower-income groups.
The minimum wage will increase to RM2,000 from RM1,700 in June 2027 at companies whose annual revenue exceeds RM50 million, benefiting more than four million workers, according to the Southeast Asian Futures Initiative Centre (SEAFIC). The centre cited the measure among Budget 2027 provisions addressing financial pressures on urban households.
SEAFIC also highlighted proposed starting pay of RM2,500 for graduates and semi-skilled jobs. For 230,000 workers at Government-Linked Investment Companies (GLICs) and Government-Linked Companies (GLCs), the living-wage benchmark rises to RM3,400 from RM3,100.
For housing, the centre said the Housing Credit Guarantee Scheme (SJKP) will provide loan guarantees worth RM20 billion for 80,000 first-time homebuyers. Bank Simpanan Nasional (BSN) and Agrobank will make RM270 million available to assist gig workers with business start-ups and home purchases.
SEAFIC said Sumbangan Asas Rahmah (SARA) can now fund fresh-produce purchases at 216 farmers’ markets operated by the Federal Agricultural Marketing Authority (FAMA). Allocations for Jualan Rahmah and Agro MADANI have risen to RM750 million, while plans call for 30,000 Jualan Rahmah programmes in urban public housing areas.
Other provisions highlighted by the centre include MyKomuter50, offering monthly savings of up to RM160, and a stamp-duty exemption for first homes valued at up to RM500,000. It also cited Medi Asas, a medical insurance plan intended to complement other social security measures.
SEAFIC chairman Tengku Datuk Seri Zafrul Abdul Aziz said implementation was the next step for the measures.
