KOTA KINABALU: Sabah Government Employees Cooperative Society Bhd (KOPEKS) has the potential to contribute in the development and growth of the country’s economy, according to the Assistant Minister in the Chief Minister’s Department, Datuk Mohd Arifin Mohd Arif.
He is confident with a strategic planning and leadership, KOPEKS can play an important role in increasing the contribution from cooperative sector in the country’s Gross Domestic Product (GDP) by 2020.
“Under the National Co-operative Policy which was launched by the Prime Minister Datuk Seri Najib Tun Razak, the cooperative sector is aimed to contribute up to 10 percent in the country’s GDP by the year 2020.” He said in his speech for the Education Incentive Presentation for the Members’ Children and Dividend Distribution of 2013 for the KOPEKS members, in JKR Multipurpose Hall, Sembulan, yesterday.
“In accordance with the Economy Transformation Programme to attain the status of a developed country with per capita income of USD$15 thousand by the year of 2020; the cooperative sector must increase its business and profit with five times the growth in KDNK, which is currently at 0.8 percent, to five percent this year in order to achieve 10 percent contribution in the GDP by 2020,” he said.
Also present were KOPEKS chairman, Datuk Hajah Maznah Abdul Ghani, the Director of Malaysia Co-Operative Society Commission of Sabah, Umar Sarim Haji Saidin, KOPEKS Chief Executive Officer (CEO), Buvil Angkui, and KOPEKS board members.
About 70 students of excellence in Penilaian Menengah Rendah (PMR) and Sijil Pelajaran Malaysia (SPM) for the year 2013 are presented with education incentives from KOPEKS.
Arifin said, the education incentive programme for the cooperative members’ children is one of KOPEKS corporate social responsibility (CSR).
“This is another success for KOPEKS as the biggest cooperative by government employees in the state.
Arifin also commended the annual increase of KOPEKS income and net profit since its recovery in 2009.
“We are proud because at 2014, KOPEKS successfully entered the Malaysia Index for 100 Best Co-Operatives, ranked 37th from 10,000 cooperatives across the country. This success has proven the quality of KOPEKS visionary management.
From 2009, KOPEKS has been issuing dividends, with two years record (2012 and 2013) of dividend payout up to 12 percent to its members, which is now more than 11,000 membership. – SayangSabah