Police co-op may be granted development projects
PETALING JAYA: The Royal Malaysia Police Cooperative may be given the opportunity to carry out physical development projects under the Home Ministry, subject to its governance performance and compliance with financial procedures.
Home Minister Datuk Seri Saifuddin Nasution Ismail said the proposal was made following a policy announcement by the prime minister, who in principle supported the idea of allowing the cooperative to participate in certain infrastructure works under the ministry's development expenditure.
'These are primarily physical development projects such as the construction and upgrading of state and district police headquarters.'
Among the projects identified were the replacement of the ageing state police headquarters in Kelantan, Perak and Penang as well as new district police headquarters in Wangsa Maju, Kapit and Padang Besar.
'Projects under the Home Ministry typically involve agencies such as the Public Works Department or PBLT Sdn Bhd.
'But if the cooperative demonstrates good governance, competence and the ability to deliver projects at a reasonable cost, then the prime minister is open to considering them as an implementation partner,' he said at a media conference during the 90th Annual General Delegates Meeting of the Royal Malaysian Police Cooperative.
'This is not a direct award. All financial rules still apply. But the prime minister's confidence is based on the belief that if cooperatives are given space, the benefit will be returned to over 100,000 of their members.'
Saifuddin added that police infrastructure projects remain a priority under the Home Ministry's development budget, which is the third largest after the Education and Health ministries.
He said any proposal by the cooperative to take part in such projects must still undergo the due process of project bidding and review by the Economy Ministry.
Inspector-General of Police Tan Sri Razarudin Husain, who also spoke at the event, said the cooperative's financial performance has remained strong, allowing it to declare its highest dividend payout to date.
It recorded a profit of RM50.14 million in 2023, with total membership reaching 119,920, up from 114,000 the previous year.
'Share capital increased to RM586.6 million and our total assets as of January 2024 stood at RM1.134 billion.'
Razarudin said the cooperative would distribute RM36.14 million in dividends, translating to 58% on share capital and 9.2% on sales capital, the highest distribution recorded by it to date.
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The Sun
a day ago
- The Sun
Police co-op may be granted development projects
PETALING JAYA: The Royal Malaysia Police Cooperative may be given the opportunity to carry out physical development projects under the Home Ministry, subject to its governance performance and compliance with financial procedures. Home Minister Datuk Seri Saifuddin Nasution Ismail said the proposal was made following a policy announcement by the prime minister, who in principle supported the idea of allowing the cooperative to participate in certain infrastructure works under the ministry's development expenditure. 'These are primarily physical development projects such as the construction and upgrading of state and district police headquarters.' Among the projects identified were the replacement of the ageing state police headquarters in Kelantan, Perak and Penang as well as new district police headquarters in Wangsa Maju, Kapit and Padang Besar. 'Projects under the Home Ministry typically involve agencies such as the Public Works Department or PBLT Sdn Bhd. 'But if the cooperative demonstrates good governance, competence and the ability to deliver projects at a reasonable cost, then the prime minister is open to considering them as an implementation partner,' he said at a media conference during the 90th Annual General Delegates Meeting of the Royal Malaysian Police Cooperative. 'This is not a direct award. All financial rules still apply. But the prime minister's confidence is based on the belief that if cooperatives are given space, the benefit will be returned to over 100,000 of their members.' Saifuddin added that police infrastructure projects remain a priority under the Home Ministry's development budget, which is the third largest after the Education and Health ministries. He said any proposal by the cooperative to take part in such projects must still undergo the due process of project bidding and review by the Economy Ministry. Inspector-General of Police Tan Sri Razarudin Husain, who also spoke at the event, said the cooperative's financial performance has remained strong, allowing it to declare its highest dividend payout to date. It recorded a profit of RM50.14 million in 2023, with total membership reaching 119,920, up from 114,000 the previous year. 'Share capital increased to RM586.6 million and our total assets as of January 2024 stood at RM1.134 billion.' Razarudin said the cooperative would distribute RM36.14 million in dividends, translating to 58% on share capital and 9.2% on sales capital, the highest distribution recorded by it to date.
The Sun
a day ago
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Police Co-op May Lead Ministry Projects, Says Saifuddin
PETALING JAYA: The Royal Malaysia Police Cooperative may be given the opportunity to carry out physical development projects under the Home Ministry, subject to its governance performance and compliance with financial procedures. Home Minister Datuk Seri Saifuddin Nasution Ismail said the proposal was made following a policy announcement by the prime minister, who in principle supported the idea of allowing the cooperative to participate in certain infrastructure works under the ministry's development expenditure. 'These are primarily physical development projects such as the construction and upgrading of state and district police headquarters.' Among the projects identified were the replacement of the ageing state police headquarters in Kelantan, Perak and Penang as well as new district police headquarters in Wangsa Maju, Kapit and Padang Besar. 'Projects under the Home Ministry typically involve agencies such as the Public Works Department or PBLT Sdn Bhd. 'But if the cooperative demonstrates good governance, competence and the ability to deliver projects at a reasonable cost, then the prime minister is open to considering them as an implementation partner,' he said at a media conference during the 90th Annual General Delegates Meeting of the Royal Malaysian Police Cooperative. 'This is not a direct award. All financial rules still apply. But the prime minister's confidence is based on the belief that if cooperatives are given space, the benefit will be returned to over 100,000 of their members.' Saifuddin added that police infrastructure projects remain a priority under the Home Ministry's development budget, which is the third largest after the Education and Health ministries. He said any proposal by the cooperative to take part in such projects must still undergo the due process of project bidding and review by the Economy Ministry. Inspector-General of Police Tan Sri Razarudin Husain, who also spoke at the event, said the cooperative's financial performance has remained strong, allowing it to declare its highest dividend payout to date. It recorded a profit of RM50.14 million in 2023, with total membership reaching 119,920, up from 114,000 the previous year. 'Share capital increased to RM586.6 million and our total assets as of January 2024 stood at RM1.134 billion.' Razarudin said the cooperative would distribute RM36.14 million in dividends, translating to 58% on share capital and 9.2% on sales capital, the highest distribution recorded by it to date.
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