Kopeks registers RM1.48m profit
Published on: Monday, July 22, 2019
By: Ricardo Unto
KOTA KINABALU: Sabah Government Employees Co-operative Society Berhad (Kopeks) registered a net profit of RM1.48 million in 2018.
Its Chairperson Datuk Maznah Abdul Ghani said this showed an increase of RM224,000 compared to the RM1.26 million net profit in 2017.
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“Thanks to the continued business profitability from 2009 to 2019, Kopeks has registered a total accumulated profit of RM27.1 million,” she said during Kopeks’ annual general meeting, here, Sunday.
“With the profit, we had cleared in 2018 the accumulated losses of RM24 million before 2005.”
Maznah also refuted rumours of Kopeks experiencing losses, saying the co-operative has been paying dividends to its members every year since 2008.
Recently, she said, news of an alleged power abuse within the co-operative went viral on social media.
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“This viral statement is an ill-intended slander meant to achieve a certain agenda and it could affect the confidence in its businesses.
“It would be impossible for us to gain profit and make dividend and allowance payouts if the alleged corruption occurred.
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“We must not let irresponsible quarters ruin our co-operative…if there are people who spread slanders, then they should be rejected by the members,” she said.
She also said Kopeks was confident of a good dividend payout to its members this year, thanks to the increased profit attained last year.
“This is important as apart from providing financial facilities, the co-operative aims to improve its members’ economy and welfare.
“The dividend payout can help members to reduce the high living cost pressure as well as the burden of increased cost for necessities.”
Maznah said since 2009 until 2017, Kopeks had made dividends and bonus payouts totalling RM6.9 million.
“For 2018, Kopeks proposed a 10 per cent dividend, which is RM1.48 million of distributable current profit and RM181,102 of distributable positive accumulated profit.
“This amount shows significant economic growth for Kopeks members,” she said.
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