Greetings to all
We have passed the second quarter of the year and with the
bearers, we are now ready to move on with our goals and plans. We are
now entering a new era of management and with this new Board
comes new aspirations, new ideas and a paradigm shift. For the period
of October 2006 till March 2007, we have made a profit of RM719,705.22
and I believe we have to strive even harder to bring about better
dividends. Loans to members have declined continuously. At the close of
the financial year of 2006, the Society
had a paid up capital of
RM24,291,164.21 against RM5,544,506.05 in the Share Capital Account.
With the approval of the AGM to transfer an additional RM1,000 from
every member's Subscription Account into the Share Capital Account, the
Society will now have more fund to diversify into other businesses and
projects as alternative sources to generate more income.
From this year onwards, members can now withdraw 80% of their
subscriptions for the purpose of performing pilgrimage. This is in
addition to the benefits already existing under the withdrawal
The quantum for subscription loan has also been increased to
RM10,000.00. However, the proposal to increase the repayment period for
the various loans was not approved by the AGM.
I call upon members to avail yourselves of the various facilities,
schemes and services provided by the Society and to participate
actively in all its activities.
Your Board will always strive to ensure that members are provided with
efficient and quality services.
To all members:
"Happy Teachers' Day".