Effective from 1 January 2015, Bank Negara has imposed a fee of 50 sen per cheque issued by the payer.

The Board had deliberated on this issue and decided that these charges would be absorbed by the Koperasi temporarily. From sources known to us, these charges will be increased to a few ringgit per cheque issued in the near future as Bank Negara Malaysia is encouraging all parties concerned to shift to e-banking rather than issuing cheques.

Under these circumstances, members who have yet to register their bank accounts with the Koperasi are advised to act immediately as the payment by e-banking to members is unavoidable in the near future.

Those who wish to register for e-banking payment can complete the form attached and return to the Koperasi. Members who had already registered their bank accounts with the Koperasi for payment of dividend and Bonus Share are not required to submit this form as future payment by e-banking will be done through the bank account registered earlier.

Please take note that the office will be closed for the Chinese New Year holidays from 18 February 2015 till 23 February 2015 and also on 27 February 2015.

We regret for any inconvenience caused.

The Penang Chinese Clan Council has informed the Koperasi that it will be staging a cultural programme to showcase Penangites CNY Celebration 2015 on 28 February 2015.

The setting up of the canopies, performance stages and other related stuff to the event will commence from 23 February to 26 February 2015, and the six streets involved with the event location are as follows:

1 King Street
2 Bishop Street
3 Church Street
4 Penang Street
5 Chulia Street
6 Armenian Street

As the Koperasi office is open from the 24 lo 26 February 2015, members coming to the office on these dates are requested to take note of the inconvenience that may arise.

The Board after consultation with the Suruhanjaya Koperasi Malaysia has decided to submit an amendment to By-Law No. 66(2) at the 83rd Annual General Meeting to comply with the ruling of the SKM that all payment of dividends not claimed within 30 days will be credited into member's "Simpanan Khas" account and not "modal syer" account.