After becoming Malaysia’s biggest initial public offering (IPO) in the past seven years and its founder hitting billionaire status, 99 Speed Mart Retail Holdings Bhd (99 Speedmart) has courted flak over the wages it offers.

In defence, its chief operating officer, Yong Eng Kwang, who described the wages as fair, said it was in full compliance with the Employment (Amendment) Act 2022.

Arguing that there are unique challenges and conditions in the minimarket sector...