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Bulletin Pdf >

MONTHLY BULLETIN - April 2013 - For Members Only

ln all my long years associated with the Koperasi, either as Chairman or Director, I have the courage and conviction to say that we are very transparent in administering our Koperasi. All decisions and policies arising are made collectively by the Board of Directors and then brought forward at the AGMs for members knowledge.

Our financial accounts are audited by the lnternal and External Auditors yearly. Furthermore, the Suruhanjaya Koperasi Malaysia (SKM) acting as a "Watch Dog", strictly supervises the activities and administration of the Koperasi into complying with the various Co-operative Acts. Hence, I can assure all members that our Koperasi is "well and sound" and there is no room for any "hanky-panky".

To illustrate that our Koperasi is robust and strong, I wish to bring you back to 1991, when we hit the RM one million mark in net profit. That's a long 22 years. And since then, to our last audited accounts in 20t2, we have never missed hitting the one million (RM) target in our net profits (except in 2002 where a RM967,207.00 net profit was made). At the time this message is being delivered, I am pleased to inform you that from our unaudited accounts for the financial year ending 31-12-2012, we have made a profit of RM 2.1 million and I can assure you that we can declare a higher dividend.

To consolidate further, our Koperasi in 2009 was awarded a 4-Star ranking out of a maximum of 5 by the SKM after an intensive "Due Diligence" Examination. Also in that same year, our Koperasi emerged proudly with a ranking of 29 among the best 100 co-operatives in the country. The icing in the cake came in 2011 when we were awarded the "Anugerah lnovasi Dan Kreative" together with a monetary reward of RM10,000.00

Our Koperasi has also applied to the SKM for payments of Bonus Shares to all members. The SKM has replied that it would consider it after the accounts for the financial year (20L2) has been audited and a Bonus Share Redemption Fund has been created. We have duly instructed our ExternaI Auditor to do the necessary for that purpose.

Thus far; serving as either Chairman or Director, has both been challenging and satisfying. I hope that the in-coming and future members of the Board of Directors have the dedication and passion to bring the Koperasi to greater heights.

Lastly, I take this opportunity to thank all past and present members of the Board, the staff and most importantly all the members for their unwavering support and contributions to the Koperasi.

Thank you.

Dato' Tan Gin Soon