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MONTHLY BULLETIN - October 2009 - For Members Only

We Are Number 29 Now

We have done it again! The rating for this year's best 100 co-operatives is out.

In the 2009 Report released by Suruhanjaya Koperasi Malaysia (SKM) recently, our co-operative ranks number 29 among the best 100 co-operatives in the country. This is 10 spots higher than the 39th ranking it achieved last year. This is truly a remarkable achievement for our co-operative, considering the fact that the best 100 co-operatives are selected and compiled by SKM out of a total of 6,084 co-operatives in the country.

Suruhanjaya Koperasi Malaysia defines a co-operative as the best in Malaysia when the co-operative concerned achieves a satisfactory level of performance in finance ( earnings, asset and equity ), business, management and compliance to Co-operative Act and By-Laws in accordance to the standard set by SKM and consistent with the standard criteria practised by the International Co-operative Alliance (ICA).

The index for the best 100 co-operatives was first introduced by SKM during the 2008 national level celebrations of  Hari Koperasi Negara. The objective is to showcase the best 100 co-operatives to serve as the benchmark for the co-operative sector to determine the success of co-operatives in our country.

The statistics released for 2008 showed there were 6,084 co-operatives in the country with a total membership of 6.5 million, an accumulated capital worth  RM 8.4 billion, assets valued at RM 55.7 billion and a turnover of RM 7.7 billion.

Commenting on this year's ranking of our co-operative. Chairman Dato' Tan Gin Soon says that this achievement is not only through the effort of the members of the Board but also with the dedication of the staff and the strong support of the members.
He adds, " I am sure if we continue to strive hard and do our best, we should be able to move further up the ladder  and eventually attain the status of best 10 co-operatives in the country".