MCO: Maybank offers S$1,400 each to employees in Singapore amid Covid-19 pandemic

KUALA LUMPUR (April 2): Maybank Singapore Ltd said a one-time financial assistance of S$1,400 (about RM4,271) will be paid to employees who are living in Singapore temporarily due to Malaysia's Movement Control Order (MCO), to help them defray the cost of accommodation and other incidental expenses.

In a statement yesterday, Maybank Singapore said a few employees have chosen to stay in accommodation provided by Maybank or rent their own accommodation, while some are staying with friends or relatives.

"Caring for the welfare of employees amid the Covid-19 period, Maybank Singapore has rolled out a bundle of financial assistance, reimbursement and vouchers for affected employees in appreciation of their dedicated service,” Maybank Singapore said.

Maybank Singapore said its financial assistance for employees include a S$100 thank-you voucher for every sales and service staff and security personnel working at 18 Maybank branches, as well as every security guard, property management agent and cleaner stationed at Maybank office premises.

"For employees who are serving a 14-day stay-home notice and face difficulties in acquiring basic necessities, their assigned BCP (business continuity planning) coordinators are stepping in to help them order food and daily essentials, (of) which Maybank will reimburse the expenses of up to S$200,” Maybank Singapore said.

Wong Keng Fye, head of human capital at Maybank Singapore, said in the statement that the group looks at the impact of the Covid-19 outbreak on its employees and hopes to address their needs and encourage them to continue to give their best at work.

"For example, we noticed some employees may not have a support system to help them with the purchase of their daily necessities, while serving the stay-home notice. Therefore, we suggested other colleagues to send them what they need and the bank will provide some reimbursement.

"In addition, with a view to protect our staff’s well-being, Maybank has implemented split site operations, work-from-home arrangements and staggered working hours as far as possible, and reduced the proximity of physical interactions amongst our staff including safe distancing in the work and rest areas. Group trainings and events are deferred until further notice. We will continue to show support for our employees during this challenging period,” Wong said.

At Bursa Malaysia today, Maybank’s share price rose three sen or 0.41% at 3:26pm to RM7.35 for a market capitalization of RM82.29 billion. The stock saw 5.68 million shares traded.

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