‘Return management rights to members’
KUALA LUMPUR: Despite the ongoing probe into four Koperasi Telekom Malaysia Bhd (Kota Mas) directors, its members still have confidence in the board’s management ability.
This was why they had demanded for the cooperative’s management rights to be returned to the board.
Kota Mas is presently under the management of the Malaysian Cooperative Commission (MCC), which took over the cooperative on April 19 and dissolved its board the same day.
Speaking at a press conference yesterday, Kota Mas spokesman Azmi Mahmud Ramli said its members wanted MCC to return management powers to its members and 11 remaining board of directors.
He said there was no need for an “outsider”' to manage the entity.
“On behalf of 17,000 Kota Mas members, we want to say that we are unhappy with MCC’s takeover and appointment as the new administrator.
“I would like to point out MCC has not brought any improvement to the cooperative since the takeover.
“Even the latest appointment of Datuk Mohd Yusof Shamsuddin as the administrator was not done with members’ consent and does not sit well with many of us,” he said.
A group of 15 members, including Azmi, called for a press conference at Kuala Lumpur International Hotel yesterday evening to express their dissatisfaction.
Azmi alleged that Yusof had conflict of interest, as he was also adviser to another cooperative.
He said a court order had also been issued on June 8 by the Kuala Lumpur High Court requesting MCC to return the country’s first registered cooperative, but MCC had yet to comply.
He also said the cooperative members had collected more than 200 signatures in a day for a petition.
This came after a company accumulated a debt of RM23 million with Kota Mas and was not dealt with by the cooperative for a long time.
Upon that, four Kota Mas directors were arrested by the Malaysian Anti-Corruption Commission on Tuesday for alleged fraud and abuse of powers.
“By right, we have a total of 15 board members at Kota Mas. But, now, we have 11 left.
“Most of us feel that these remaining directors and 89 of its representatives nationwide can run the show.
“Besides, the four detained are not guilty until they are proven otherwise. We will wait for MACC to complete its investigation,” Azmi said.
To reinstate trust and confidence in the cooperative members, Azmi said, MCC must comply with the court order before June 19.
“Otherwise, it would be a contempt of court,” he added.
Azmi said once the powers had been returned to its members, Kota Mas would have an annual general meeting to re-elect a new board of directors.
Yesterday, MCC executive vicechairman (operation and regulatory) Meriam Mat Nor had said the takeover was done following reports lodged by its members, who were affected by the board of directors’ dispute.
It was meant to rectify problems in the cooperative in terms of its management, expenses, recovery plan and investments.
The appointment of Yusof was allowed for under the Cooperative Act 1993.
MCC said when everything was in order, in at least two years’ time, it would call for a general meeting for Kota Mas members to choose a new board of directors.