In a pleasant turn of events, SCBA has substantially increased its offer to SBEU for the New CA

Salary Revision

SCBA has offered a 9% salary increase for SBEU members at a conciliation meeting convened by the Director General Of Industrial Relations in Kuching on 28 June.  Contractual Bonus remains at 2 months.

The increase will take effect from 1 January 2003 meaning members will get more than 20 months arrears (including Bonus).

SBEU members will get an extra of 6.5 Million Ringgit a year in salary increases alone.

On average, members will get a salary increase of about $170 per month.  Arrears on salary will average $3500 per member.  Total payout is more than 8 million ringgit.

This is on top of the other improvements that were agreed with SBEU earlier.

OTHER IMPROVEMENTS/INCREASE

• Mileage allowance - 5ct per km

• Subsistence allowance - $5

• Shift allowances - $10

• Family medical limit - by $100 to $1100

• Insurance by $10,000 to RM110,000

• Code of Conduct for Prevention of Sexual Harassment

• Miscarriage to be covered

• Laundry Allowance - by $5.00 to $50 pm

OVERTIME/MEAL ALLOWANCE

As part of the package it is proposed that for employees earning more than $1500 per month, overtime shall be converted to meal allowance as follow:

Normal Days

More than one hour - $10

More than 2 hours - $20

More than 3 hours - $30

More than 4 hours - $40

Rest Days

Up to 4 hrs - $45

4 to 7 hrs - $75

More than 7 hrs - $90

The Ceiling of $1500 shall be reviewed in accordance with the Employment Act.

The articles that SCBA cannot agree to are:

Performance Related Remuneration System (PRRS)

Unfortunately they are unable to pursue further on the proposed PRRS and the other few proposals SBEU wanted.  It is suggested that SBEU take this up with individual banks.

SCBA's rational is that most Banks do not yet have a well-tested and transparent appraisal system that is necessary to make PRRS work.  If any banks are ready then they come to bilateral agreement with SBEU.

HOUSING LOAN

Banks offer to increase housing loan to RM160,000 but decline to allow progressive repayment or to include Swak allowance in the Computation.

STANDING INSTRUCTIONS

SCBA says most banks are already offering this service to their employees and there is no need to put this in the CA.

TRANSFER

We are not that particular that SCBA does not wish to a transfer package in the CA.  It can mean that transfer of SBEU members would be minimised.

RETIREMENT AGE

We will continue to pursue this and hopefully the Government may extend the retirement age when it undertakes the pension reform in the country.

CHILDCARE FOR MALE EMPLOYEES

We will take this up at the Next CA.

AS GOOD AS IT GETS?

While SBEU will never stop in our efforts to get the best for our members, we believe that the offer by SCBA is reasonable.  Officials of SBEU, SCBA and the Industrial Relations Department have been working tirelessly to find an amicable solution to the dispute.

SBEU even made presentation to the CEOs of the banks.  We note the Consumer Price Index for the relevant period is only 4.5% and it will be tough to get anything better even if we go to the Industrial Court.

MEMBERS TO DECIDE

We therefore strongly recommend and urge all members to accept the proposal.

In line with long standing tradition of SBEU we now let members decide on the proposal.  We urge all members to sign the endorsement to indicate whether or not they accept the proposals.

Again in line with past practice and tradition of SBEU, we also request all members to also contribute 10% of the arrears as levy to SBEU.

This levy will again be used to strengthen our assets and resources to make sure that SBEU remain strong and effective to safeguard the interest of all members.

Please indicate on the same form to authorise the banks to effect the deduction from the arrears due.  The 10% is just on the arrears of salary and bonus only.  Arrears on overtime and other benefits will not be affected.

Once we received endorsement from at least 75% OF ALL MEMBERS, we will then sign the Agreement.  We do nope to implement the new CA by August/ September 2004.  If agreed, arrears would be paid before October 2004.

WHO WILL BE ENTITLED?

THE CA will apply to all members from All Commercial banks and Public Finance, Mayban Finance, EON Finance & BCF.  Once members agreed to the CA, we will make presentation to Bank Muamalat, RHB Delta Finance, Southern Finance & Hong Leong Finance to implement the same CA.

Affin ACF has agreed to implement after the merger with Affin Bank.  We are currently negotiating with AmFinance to implement the CA.

We are confident that SBEU members will once again make a mature and wise decision.