|
Proposed Payment of Bonus Share
At the last Annual
General Meeting held on 25 March 2O12, the members unanimously resolved
that the Co-operative dispose of one of our properties known as Unit
No.2, D'Piazza Mall, Bandar Bayan Baru, Penang.
The property was sold to Madam Yeow from Johor under Sales &
Purchase Agreement dated 10 May 2O12 at a price of RM1,450,000.00. Our
legal adviser Messrs Ooi Lee & Co was appointed to act on our
behalf on the said disposal.
The sale was completed and the full amount of RM 1,450,000.00 was
received by the Koperasi on the 7 September 2012.
From the disposal of the said property, the Koperasi made a net profit
of RM520,000.00. The Board decided that the Koperasi declare a bonus
shares of 4.84% amounting to RM519,511.38 basing on the total paid up
share capital of members as at 31.7.2012 which stood at RM
!0,733,706.32.
Application to pay the bonus share had been submitted to Suruhanjaya
Koperasi Malaysia (Bahagian Odit), Kuala Lumpur for approval. Upon
receiving the approval from the SKM, the Board will table the payment
of Bonus share at the next Annual General Meeting which is tentatively
fixed on 30 June 2013, before payment can be made. The above payment
shall be made in accordance with Section 55 of the Co-operative Act
1993 as well as Section 25 of the Co-operative Societies Regulations
1995.
---------------------------------------------------------------------------------------------------------------------------
|
