Secretary's Review of Year 2024

In spite of the turbulent economic and political situation in the country, The Board of Directors are pleased to announce a 6% Bonus Share for all eligible members. This recommendation is possible due to the partial acquisition of our Lock Lian Estate in Pahang by the government for the East Coast Rail Link (ECRL) project.

Members have a right to a decent return on their investment. The Co-operative has been paying out better returns to members than banks for the past 30 years. Members have been reasonably rewarded for investing in our co-operative in terms returns and benefits. Your money earns more in our Co-operative that any bank in Malaysia. We have also given more benefits than the banks.

We are living in a volatile times where racial and religious extremism are rampant. Cost of living is escalating. The government promised much but has failed to deliver in the past 2 years. We had hoped for more stability and moderation but are faced with taunts and threats to our racial, religious and educational freedoms. All these unhealthy developments are making economic activity and development more difficult. We expect the government to ensure that after 67 years on independence to give all citizens equal rights and opportunities. How long more are we to be divided into races and religions. We are all MALAYSIANS and have no other country to call as home. Our loyalty should not be questioned as no one as a monopoly on loyalty.

Future.

We need a change of mindset.
We have to start thinking of the next generation.
We have laid a strong foundation for the next generation to build on.

We have requested all members to enrol their children and grandchildren as members.
Children under the age of 18 year will be identified as "child members".

"Child members" are eligible to all co-operative's rights and benefit (subject to the terms and conditions) including dividend and bonus share.

"Child member" do not have the right to vote, contest or hold any position in the co-operative until they reach the age of 18 years old. These children will become members of a very assets rich co-operative and can expect to enjoy high dividends and bonuses in their time. At the same time we will continue with members recruitment, but only encourage those below 35 years to become members. There has been a demand for older people too become members. We will study allowing older people members with conditions that we think might be necessary. Deceased members are still allowed to be replaced by 2 new members from the same family who are below 35 years of age. This will allow long term deceased members to have a continued interest in the Co-operative through their family. The Co-operative's property is a family property and should be passed on to the future generations. We have also allowed estate workers to join as new members without any age constraints. Sadly, Sime Darby, a government linked company, has stopped deduction from estate workers who are our members, on the flimsy excuse that this deduction from their salary may cause a drop of their salary below the 60% permitted amount by law that could be deducted.