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The Sun
13 hours ago
- Business
- 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
13 hours ago
- Business
- The Sun
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.
The Sun
a day ago
- Business
- The Sun
KPDRM declares over RM36 million 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 RM36.14 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.
New Straits Times
2 days ago
- Business
- New Straits Times
Police cooperative announces RM36.14mil dividend payout
KUALA LUMPUR: The Royal Malaysian Police Cooperative Bhd (KPDRM) has announced an annual dividend payout of 5.8 per cent on subscription capital and 9.2 per cent on share capital to its members for financial year 2024, totalling RM36.14 million. Inspector-General of Police Tan Sri Razarudin Husain said this was the first time such a substantial dividend had been distributed to KPDRM members in the cooperative's 97-year history. "This dividend represents an increase of 0.3 per cent for subscription capital and 2.2 per cent for share capital compared to 2023," he said during the KPDRM Annual General Meeting at a hotel here today. The event was officiated by Prime Minister Datuk Seri Anwar Ibrahim, with Home Minister Datuk Seri Saifuddin Nasution Ismail also in attendance. He said KPDRM recorded a profit of RM50.14 million for 2024, compared with RM45.02 million in 2023.
