Pays out incentive to all.
SHAH ALAM: All associations of the Selangor State Development Corporation (PKNS) have welcomed the corporation's decision to give employees seven months' pay incentive this year, saying it is a recognition of their contributions and high productivity.
The Workers' Welfare Association, Senior Officers' Association, Executive Officers Association, Union of PKNS Workers, Sports and Recreation Association and Islamic Association said the incentive would motivate them to work harder.
The PKNS public relations division, in a statement to Bernama, said the Selangor State Development Corporation Enactment 1964 authorises the corporation to provide incentive pay according to its audited profits for the financial year ending Dec 31 the preceding year.
At its meeting in June, the board approved the incentive payouts to employees of the corporation, its subsidiaries and board members according to prescribed procedures.
The statement said the incentive payouts are justified by the corporation's improved profits, which in 2010 amounted to RM206.3 million, up 24.3 per cent from the previous year's RM166.1 million.
The incentive payouts are also justified by the higher staff work performance, it said, adding that the amount of incentive for employees is based on how far they meet their annual work targets.
Last year PKNS paid RM43 million in taxes and contributed RM6.7 million in zakat to the Selangor Zakat Board.
The corporation also contributes an average RM30 million to RM40 million a year to subdsidise low-cost and affordable housing, educational activities and the state government's welfare programmes.