Be cautious in new business initiatives, Kopeks advised
KOTA KINABALU: State Secretary Datuk Seri Panglima Hashim Paijan has advised the Sabah Government Employees Cooperative Berhad (Kopeks) to be cautious when venturing into new business initiatives, especially on investments.
In this regard, he reckoned that Kopeks leaders and members should act and work collectively and also to multiply their efforts to achieve their goals.
Hashim said that to date, there are 13,388 registered cooperatives nationwide with membership of seven million members, total assets amounting to RM130.74 billion with a total share capital and fee of RM13.99 billion.
He said, in Sabah alone, there are 1,374 cooperatives with a total of 335,479 members and combined assets amounting to RM787.30 million.
“All the cooperatives in Sabah have a total share capital and fee of RM157.61 million, and their income amounted to RM323.86 million,” he disclosed when opening the cooperative’s 43rd Annual General Meeting (AGM) here yesterday.
Hashim said, as the Kopeks’ membership has reached over 9,000 members, this certainly requires leaders who are not only committed, transparent and focused but also insightful to safeguard the interests of its members.
He said he was satisfied that Kopeks is now well-guided and the welfare of its members are being taken care of as seen from the loans given to members.
Kopeks had also assisted more than 400 of its members to settle their loans amounting to RM4 million, he added.
Also present were Kopeks chairperson, Datuk Maznah Abdul Ghani, Kopeks chief executive officer, Buvil Angkui, Director of Sabah Cooperative Commission, Omar Sarim Saidin, Permanent Secretary to the Ministry of Health and People’s Wellbeing, Datuk Janet Chee.