Salam Adilfitri from all of us at Koperasi Guru Pulau Pinang to all our Muslim members.

Thank you for giving me a very motivated and dedicated team. We’ll strive to steer the Co-operative Society to greater success.

In my 1st Board meeting, I’ve impressed on Board members to reinforce our commitment to OUR VISION to be a Progressive, Dynamic and Role Model Co-operative Society not only in  Penang but nationwide as well.

Also in line with this, we’ve a mission to enhance member related services. We need to be relevant to the ever changing needs and aspirations of our members.  They are yearning and crying for higher dividends and better returns on their savings.

As such, we’ve to explore and introduce New INITIATIVES and PRODUCTS to fulfill these challenges.  The Board needs to think out of the box to generate higher income by exploring and venturing into new business ventures. We’ve to invest in commercial properties which yield better returns in rental initially and later contribute to capital growth.

Arising out of the recent AGM , one pressing issue merits mention and action – payment of travelling allowances.  The Board is very much concerned and views this trend to increase travelling allowances as a serious threat to the financial health of the Society vis-à-vis in the payment of dividends.  This is an expense account which inevitably increases our overheads.

A payment of an disproportionate amount in travelling allowances is considered as highly unequitable. Normally profits are disbursed as dividends based on the subscription of members.

The discrepancy is very glaring and the payout is a great disservice to the other membership.

It cannot be denied that the AGM is the August assembly of members where decisions made are supreme.  Time and again we have stressed that your attendance is not only encouraged but appreciated for constant vigilance by the membership is pivotal to the successful management of the Society.

As members you have your rights and privileges but most importantly you have obligations and responsibilities to the Society as well.  Hence, it is your duty to attend and the Society does pay a reasonable sum as your travelling allowance for you to be present.

All said and done, the Board respects your decision and RM70.00 will be paid as travelling allowance for the next AGM.

Thank you.
P. Kanagarajah