SUNGAI BULOH: The Armed Forces Cooperative or Koperasi Angkatan Tentera Malaysia Bhd (KATM) has announced a dividend of 10 per cent amounting to RM145 million for its 154,620 members.
Defence Minister Mohamed Sabu said he was pleased with the cooperative’s performance and hoped that it would continue to improve from year to year.
“In 2018, the KATM made a net income of RM313.5 million and a net profit of RM184.33 million before zakat and taxes and this is a strong showing that members should be proud of.
“From 2009 to 2018, KATM has generated a net income of RM2.44 billion and profit before distribution of RM1.83 billion.
“This is a good achievement for KATM which had been paying a dividend worth RM1.549 billion at the rate of 12 per cent annually.
“I want the cooperative to continue improving its performance so that its members can benefit more in the future,” he said in his speech at the 54th annual general meeting of the Armed Forces Cooperative, here, today.
Meanwhile, KATM chairman Major General Datuk Zulkiflee Mazlan (R) announced an online service had been implemented to value-add existing services for its cooperative members.
“I would like to announce an online service call KATM Online which will make it easier for members to keep up to date with KATM’s activities as well as to conduct online transactions,” he said.
Zulkiflee said the cooperative will also continue to focus on its social activities to help cooperative members who are facing health problems and difficulties.