KUALA LUMPUR, Sept. 30 -- The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has welcomed the government's decision to temporarily exempt micro, small and medium enterprises (MSMEs) from an upcoming minimum wage increase, saying the move would provide financial relief to about 1.3 million businesses.

In a statement today, ACCCIM president Datuk Ng Yih Pyng said MSMEs had faced multiple cost increases over the past two years amid a challenging business environment and growing competition from foreign businesses.

"The exemption will provide a timely and much-needed financial relief to about 1.3 million MSMEs," Ng said.

ACCCIM said the Cabinet had agreed to exempt MSMEs from the upcoming minimum wage increase fo...