Latest news with #KPDRM
Sinar Daily
5 days ago
- Business
- Sinar Daily
Ex-IGP Razarudin appointed Classita's non-executive chairman
With decades of service in the police force, Razarudin brings a first-hand understanding of the challenges faced by public servants. 12 Aug 2025 05:23pm Tan Sri Razarudin Husain. Bernama FILE PIX KUALA LUMPUR - Classita Holdings Bhd has appointed former police inspector-general, Tan Sri Razarudin Husain, as its non-executive chairman, effective immediately. His appointment marks a significant step in the company's commitment to public-interest aligned development and stronger governance as it enters a new phase of growth, Classita said in a statement on Monday. It also said this leadership transition coincides with the emergence of NexG Bhd as a substantial shareholder of Classita, following its recent acquisition of a 32.61 per cent equity stake in the company. With decades of service in the Royal Malaysian Police, Razarudin brings a first-hand understanding of the challenges faced by public servants - particularly in securing affordable and dignified housing. Tan Sri Razarudin Husain. Bernama FILE PIX "In line with this, Classita intends to propose the construction of a dedicated residential development to Koperasi Polis Diraja Malaysia (KPDRM) on its Ulu Kelang land, specifically aimed at supporting the welfare and housing needs of police personnel and their families," it said. Classita said this is in line with its shift toward socially responsible, Madani-aligned development. "This initiative is not about property; it's about purpose. By proposing this to KPDRM, we're creating a win-win solution - uplifting the lives of those who serve the nation, while aligning Classita's future with meaningful, socially-driven development,' said Razarudin. As part of the company's internal restructuring, Ng Keok Chai, who was previously executive chairman, has been redesignated as executive director, where he would continue to play an active role in driving project execution and business development under the new direction. - BERNAMA
New Straits Times
6 days ago
- Business
- New Straits Times
Classita appoints former IGP as chairman, rebrands to NexG Bina in affordable housing push
KUALA LUMPUR: Classita Holdings Bhd has appointed former inspector-general of police Tan Sri Razarudin Husain as non-executive chairman, effective immediately, as the company pivots toward public-interest-aligned development and large-scale infrastructure projects. The leadership change follows NexG Bhd's emergence as Classita's substantial shareholder with a 32.61 per cent stake. The group has proposed a rebranding to NexG Bina Bhd, subject to shareholder approval, to reflect its shift into construction and development in partnership with NexG Group. Ng Keok Chai, previously executive chairman, has been redesignated as executive director and will remain actively involved in project execution and business development under the company's new direction. Leveraging his four decades in the police force, Razarudin is spearheading a proposal for a dedicated residential project for members of Koperasi Polis Diraja Malaysia (KPDRM) on Classita's Ulu Kelang landbank. The initiative, originally earmarked for a public service housing project (PPAM), will be repositioned as a mission-driven development aimed at affordable, dignified housing for police personnel and their families. "Affordable, dignified housing is not just a need - it's a foundation for stability, morale, and long-term wellbeing. This initiative is not about property; it's about purpose. By proposing this to KPDRM, we're creating a win-win solution - uplifting the lives of those who serve the nation, while aligning Classita's future with meaningful, socially driven development," he added. In addition to housing initiatives, Classita is preparing for participation in large-scale infrastructure projects, most notably the MRT3 System Project. The company is collaborating with Lion Pacific Sdn Bhd to jointly tender for the MRT3 System Project, with Lion Pacific acting as lead contractor. Under the proposed arrangement, Classita is expected to undertake the SY303 work package, which involves the supply, testing, and commissioning of electric trains and related systems. Classita said this partnership positions it to play a significant role in national infrastructure delivery and reflects the company's capacity to meet the demands of high-value, public-sector engineering contracts aligned with the Madani agenda. With strategic support from NexG, whose core businesses include secure ID solutions, eKYC platforms and government-aligned digital infrastructure, Classita is set to expand its role in affordable housing, infrastructure and public-private partnership programmes. Under the 13th Malaysia Plan, the government aims to build one million affordable homes by 2035, alongside major investments in transport, urban renewal and infrastructure. A total of RM560.45 million has been set aside to upgrade 1,776 health clinics, while over 82,000 police and army quarters are being built or refurbished. The Malaysia Construction Industry Report 2025 notes over 1,049 public projects worth RM58.8 billion in the pipeline, with RM60–70 billion in annual opportunities for housing, infrastructure and institutional works. Razarudin said with the backing of NexG and a renewed leadership mandate, Classita is transforming into a development platform that serves not just markets but Malaysians. "We are aligning ourselves with the nation's policy agenda—from affordable housing and infrastructure to projects that deliver lasting socioeconomic impact. "To realise these ambitions at scale, government support will be crucial — including strategic land allocations, regulatory facilitation, and integration into national programmes.
Malay Mail
13-06-2025
- Business
- Malay Mail
More members, more profit: Police co-op posts ‘impressive' RM50m profit, raises dividends
KUALA LUMPUR, June 13 — Koperasi Polis Diraja Malaysia Berhad (KPDRM) announced a dividend distribution of 5.8 per cent for 2024 on subscription capital and 9.2 per cent on share capital to members, with a total distribution of RM36.14 million. KPDRM president and Inspector-General of Police Tan Sri Razarudin Husain said the distribution showed an increase of 0.3 per cent for subscription capital and 2.2 per cent on share capital compared to the previous year. 'In the cooperative's 97 years of existence, this is the first time such an impressive dividend has been distributed to KPDRM members,' he said when speaking in conjunction with KPDRM's 90th Annual General Meeting here today. Also present were Prime Minister Datuk Seri Anwar Ibrahim, Home Minister Datuk Seri Saifuddin Nasution Ismail and Ministry of Human Resources secretary-general Datuk Seri Khairul Dzaimee Daud. Commenting further, Razarudin said KPDRM recorded a profit of RM50.14 million for the year 2024, compared to RM45.02 million in 2023. 'This is influenced by the increase in the number of KPDRM members from 114,608 in 2023, to 119,922 in 2024, involving an increase of 5,314 people. 'In this regard, the subscription capital also increased to RM586.6 million in 2024 compared to RM558 million in 2023, an increase of 4.9 per cent equivalent to RM28.6 million,' he said. In addition, Razarudin said the share capital also increased to 11 per cent equivalent to RM2.9 million from RM20.5 million in 2023 to RM23.04 million in 2024. At the ceremony, the Prime Minister also presented insurance compensation to nine relatives of Federal Reserve Unit (FRU) members who died in a road accident in Teluk Intan, Perak, in May. — Bernama
Malay Mail
13-06-2025
- Business
- Malay Mail
PM Anwar says open to discounts, but not full cancellation of police cooperative debt
KUALA LUMPUR, June 13 — Prime Minister Datuk Seri Anwar Ibrahim today said he is open to granting discounts on debts owed by companies under the Royal Malaysian Police Cooperative Bhd (KPDRM), but ruled out a full cancellation. Speaking at KPDRM's annual general meeting, Anwar was responding to a request by Inspector-General of Police Tan Sri Razarudin Husain for the government to write off debts linked to past 'poor business decisions' by the cooperative's companies. 'On asking for debt cancellation, Tan Sri Razarudin — if you owe, you pay lah,' Anwar said in his speech, drawing light laughter from the audience. 'Right, so we can negotiate. I don't think it's right to relieve all. But I feel, based on the performance of the police and the current management, we can give reasonable discounts.' Razarudin earlier announced a dividend payout of 5.8 per cent on subscription capital and 9.2 per cent on share capital for the financial year 2024, amounting to RM36.14 million. He did not disclose the total amount of debt owed by the KPDRM-owned firms or the exact sum he hoped would be cancelled.
The Star
13-06-2025
- Business
- The Star
Police co-op declares over RM36mil in dividend
KUALA LUMPUR: Koperasi Polis Diraja Malaysia Berhad (KPDRM) announced a dividend distribution of 5.8 per cent for 2024 on subscription capital and 9.2 per cent on share capital to members, with a total distribution of RM36.14mil. KPDRM president and Inspector-General of Police Tan Sri Razarudin Husain ( pic ) said the distribution showed an increase of 0.3 per cent for subscription capital and 2.2 per cent on share capital compared to the previous year. "In the cooperative's 97 years of existence, this is the first time such an impressive dividend has been distributed to KPDRM members," he said when speaking in conjunction with KPDRM's 90th Annual General Meeting here Friday (June 13). Also present were Prime Minister Datuk Seri Anwar Ibrahim, Home Minister Datuk Seri Saifuddin Nasution Ismail and Human Resources Ministry secretary-general Datuk Seri Khairul Dzaimee Daud. Commenting further, Razarudin said KPDRM recorded a profit of RM50.14mil for the year 2024, compared to RM45.02mil in 2023. "This is influenced by the increase in the number of KPDRM members from 114,608 in 2023, to 119,922 in 2024, involving an increase of 5,314 people. "In this regard, the subscription capital also increased to RM586.6mil in 2024 compared to RM558mil in 2023, an increase of 4.9 per cent equivalent to RM28.6mil,' he said. In addition, Razarudin said the share capital also increased to 11 per cent equivalent to RM2.9 million from RM20.5mil in 2023 to RM23.04mil in 2024. At the ceremony, the Prime Minister also presented insurance compensation to nine relatives of Federal Reserve Unit (FRU) members who died in a road accident in Teluk Intan, Perak, in May. - Bernama
