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November 10, 2022

KOPIT Holds Successful First Annual General Meeting (AGM)​

KOPIT held its first Annual General Meeting (AGM) through Microsoft Teams on 10th November 2022, which was attended by 25 participants. The meeting was conducted in Bahasa Malaysia and included the participation of the Suruhanjaya Koperasi Malaysia (SKM) authority.

The agenda of the meeting included several important items, which were successfully discussed and approved by the members. The items included:

  1. Appointment of Meeting Chairman – The meeting started with the appointment of the chairman to lead the proceedings.
  2. Approval to Establish the Cooperative – The members approved the establishment of the cooperative and its registration process.
  3. Application to be Registered as a Cooperative – The application for registration as a cooperative was discussed and approved by the members.
  4. Acceptance of the Cooperative By-law (Undang-Undang Kecil/UUK) – The members received and approved the UUK governing the operations of the cooperative.
  5. Election of Cooperative Board of Directors (Anggota Lembaga Koperasi/ALK) – The members elected the Cooperative Board of Directors (ALK).
  6. Consideration and Approval of the Cooperative’s Annual Budget 2023/2024 – The members considered and approved the annual budget for the cooperative for the financial year 2023/2024.
  7. Approval of the appointment of at least two auditors who are approved by the Commission or its officers to audit the cooperative’s accounts. – The members approved the appointment of at least two auditors who are approved by the Commission or its officers to audit the cooperative’s accounts.
  8. Consideration and approval of the scope of the investment limit financed by the cooperative’s surplus funds – The members considered and approved the scope of the investment limit financed by the cooperative’s surplus funds.
  9. Determination of Maximum Debt Limit for the Cooperative – The members determined the maximum debt limit for the cooperative.

The SKM authority also participated in the AGM and provided guidance and support to Koperasi KOPIT during the meeting. The cooperative looks forward to continuing its operations as a registered cooperative in line with the Cooperative Societies Act, with the support and guidance of the SKM authority.

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