KOPERASI Komuniti Pulau Pinang Selatan Berhad (KKPPSB) has declared a five per cent dividend payout for the financial year 2024 (FY24). The dividend approval for its 1,399 members was one of the key highlights of KKPPSB’s third Annual General Meeting (AGM) held at Raia Inn Penang recently.

The AGM also recorded its highest attendance to date, with 894 members present compared to 803 the previous year. Members in attendance comprised fishermen, residents, and entrepreneurs from the southern region of Penang Island, underscoring KKPPSB’s growing role in strengthening the local community’s economy and expanding public participation in cooperative development.

KKPPSB chairman Mohd Kamal Abdullah said the encouraging turnout reflected the members’ dedication and confidence in the cooperative’s mission. He stressed that the cooperative is not merely a business entity but a values-based platform for community wellbeing.

Among last year’s achievements were the construction of 12 fishermen’s sheds in Kampung Binjai, the fabrication of 21 boats and engines complete with equipment for eligible fishermen, as well as the organisation of short courses to increase cooperative income.

“These successes would not have been possible without the continuous support of our members,” he said during the AGM on Aug 23, while also expressing appreciation to the Penang government for its assistance in realising these projects.

State Agrotechnology, Food Security and Cooperative Development Committee chairman Fahmi Zainol, who is also KKPPSB president, said the cooperative was officially registered on 21 April 2022 with a start-up capital of RM5 million from the state government.

“This capital laid the foundation for various cooperative ventures and community-based initiatives. With the state government’s support, KKPPSB continues to play a pivotal role in generating supplementary income,” he said when officiating the meeting.

Also present at the AGM was Malaysia Cooperative Societies Commission Penang director, Dr Zainab A. Raman.

The third Annual General Meeting of KKPPSB also celebrated the academic excellence of three children of cooperative members who excelled in the Sijil Pelajaran Malaysia (SPM) examination.

They were Lee Jiun Yiih from SMJK (C) Heng Ee Bayan Baru Branch (7As, 3Bs), Nurul Qistina Ahmad Saleh from MRSM Balik Pulau (6A+, 3As) and Rifqah Raihanah Mohamed Azlan from SMK Sungai Ara (7As).

Each recipient received RM500, and all three are now pursuing foundation studies at local universities in the fields of science, pharmacy, and accounting.

For 18-year-old Jiun Yiih, success in the SPM was never about outshining others, but about competing with himself.

“At first, I kept comparing my results with others and it only made me feel like I had failed. Eventually, I decided to stop the comparisons and focus on competing with myself. That motivated me to study harder, and I ended up satisfied with my own progress,” Jiun Yiih, who is now pursuing a Foundation in Science at Tunku Abdul Rahman University of Management and Technology (TAR UMT) in Kuala Lumpur, said.

The AGM concluded with a lucky draw featuring 21 prizes, including an electric scooter, refrigerator, air-conditioner, washing machine, television, and smartphone.

The highlight of the event was a special prize worth RM10,000, sponsored by M Summit Group, comprising a six-hour rental of The Petals hall along with a buffet for 100 guests.

Pix courtesy of Koperasi Komuniti Pulau Pinang Selatan Berhad