Co-operative offers RM9mil in dividends to members

  • Nation
  • Tuesday, 01 Jul 2003

Other News & ViewsCompiled by LOO YOK SOI, LAM LI and S. ARULLDAS

THE National Land and Finance Co-operative Society has offered RM9mil in dividends to its members despite the global economic slowdown, Malaysia Nanban reported.  

The co-operative’s chairman Tan Sri K.R. Somasundram, at the 36th annual general meeting in Kuala Lumpur on Sunday, announced the board’s decision on the dividend allocation. 

The daily quoted him as saying that the co-operative had in previous years earned about RM20mil from several of its investments but last year it dropped to RM6.7mil due to bad economic climate. 

He said the co-operative has been paying bonuses to estate workers since 1993 and was told to leave the Malaysia Agriculture Producers Association (Mapa). 

He added that the co-operative had introduced monthly salaries for workers since 1999 compared to other estate managements which started only from early this year. 

Tamil Nesan, in its editorial, commended Malaysia Airport Holdings Berhad (MAHB) for their achievement in making KLIA the second best international airport in the world. 

It said the achievement was in recognition of the world-class service provided by MAHB. 

“Airports are the first place for travellers to experience the arts and culture of any foreign land and they would become our travel ambassadors in their countries,” it said.  

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