By: Zaki Saleh
IPOH: The Ipoh City Council Workers’ Co-operative (Koperasi Pekerja-pekerja Majlis Bandaraya Ipoh Berhad) has announced a 10% dividend payout amounting to RM2.4 million to 1,346 of its members.
Ranked 116th among more than 16,000 co-operatives nationwide and 10th in Perak, the co-operative continues to demonstrate financial strength and member trust.
Its chairman, Mahendran Suppiah Raman, said the co-operative currently holds a capital base of RM24 million, with financing assets reaching RM35 million.
“These figures reflect the strong confidence our members have in the co-operative,” he said during the co-operative’s 51st Annual General Meeting, where the dividend was officially announced by Ipoh Mayor Zamakhshari Hanipah.
Mahendran said the cooperative currently runs several economic initiatives, including Tawarruq-based Shariah-compliant financing, stock investments, fixed deposits, and building rentals.
“In addition to financial services, we also offer various member programmes such as health seminars, Umrah courses, zakat seminars, financial literacy workshops, and debt management training.
“We also provide co-operative-branded annual products and health devices for the benefit of both members and the public,” he added.
As part of its long-term strategy to diversify income sources, the co-operative has also introduced the Ar-Rahnu pawn-broking business scheme.
Recognising the welfare of its members, most of whom are Ipoh City Council staff, the cooperative offers several assistance schemes.
These include a RM5,000 death benefit fund for members, protection and redemption funds for financing, as well as the “Insan Penyayang” fund for compassionate purposes.
Also in place are retirement or death gratuity funds for members and education incentive funds for members’ children who excel academically.
