Setgaji Partners with Cheng & Co Group to Revolutionise Employee Financial Wellness in Malaysia

Setgaji, a financial wellness platform, recently partnered with Cheng & Co Group, a prominent multi-disciplinary professional services provider. This collaboration aims to improve financial well-being for Malaysian employees.

By Finlit2 min read
Setgaji Partners with Cheng & Co Group to Revolutionise Employee Financial Wellness in Malaysia

Imagine your car breaking down unexpectedly. To make matter’s worse, it’s the middle of the month and you don’t have enough money for the repairs. What do you do in this situation? Waiting for your next pay cheque won’t help in emergencies like these. But what if your boss could give you the option of an advance salary to help you with your car? That’s what Setgaji can do for you.

Setgaji is Focusing on Financial Wellness

Setgaji, a financial wellness platform, recently partnered with Cheng & Co Group, a prominent multi-disciplinary professional services provider. This collaboration aims to improve financial well-being for Malaysian employees by potentially increasing access to financial tools such as:

  • Early Wage Access: To enable financial flexibility for employees to access a portion of their already-earned wages before their regular payday, potentially helping with unexpected expenses.

  • Financial Management Resources: Offer resources like budgeting tools or educational materials to help employees improve their financial literacy and manage their finances more effectively.

Potential Benefits for Employees

By offering these tools, employers partnering with Setgaji could provide several potential benefits for employees:

  • Managing Unexpected Costs:  Early wage access could be a safety net for unforeseen expenses, reducing stress and financial strain.

  • Improved Budgeting: Having access to budgeting resources could empower employees to plan their finances better, potentially leading to financial stability.

  • Reduced Financial Stress: Knowing you have options to manage your finances might lead to greater peace of mind and overall well-being.

Conclusion

The partnership between SetGaji Sdn. Bhd. and Cheng & Co Group is effective immediately and is expected to strengthen both parties’ market positions while delivering enhanced benefits to businesses across Malaysia. This collaboration aims to make financial wellness accessible, helping employees manage their finances better and feel more secure in their financial lives.

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Frequently asked questions

What is Setgaji?
Setgaji is a financial wellness platform for Malaysian employees, run by SetGaji Sdn. Bhd. It can give staff the option of an advance on their salary, which helps in situations where an unexpected cost, like a car repair, lands in the middle of the month before the next pay cheque arrives. It recently partnered with Cheng & Co Group to help improve financial wellbeing for Malaysian employees.
What is early wage access?
Early wage access lets employees draw a portion of the wages they have already earned before their regular payday. The idea is to give financial flexibility, so a worker can cover an unexpected expense without waiting for the next pay cheque. In the Setgaji and Cheng & Co Group partnership, early wage access is one of the tools the collaboration could make available to Malaysian employees.
What does the Setgaji and Cheng & Co Group partnership offer employees?
The partnership aims to improve financial wellbeing for Malaysian employees by potentially increasing access to financial tools. These could include early wage access, which lets staff tap earned wages before payday, and financial management resources such as budgeting tools or educational materials. The stated benefits are managing unexpected costs, improved budgeting, and reduced financial stress. The partnership is effective immediately.

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