By Syifarida Muhamad Zaki
SERDANG, Dec 29 - Koperasi Universiti Putra Malaysia (KUPUTRA) Berhad recorded a breakthrough when it was listed as Malaysia’s Top 43rd Cooperative 2016 under consumer function category in the publishing of Malaysia’s 100 Top Cooperatives Profiling as issued by the Cooperative Commission of Malaysia.
The ‘function’ category among other things included the function of credit and banking, transportation and agriculture, services, housing and construction.
The recognition was based on KUPUTRA’s high revenue that had contributed to the overall cooperatives’ movement turnover in an effort to meet the revenue target of RM50 billion by 2020.
KUPUTRA with 2,158 members, succeeded in reaping profits, totalling RM29,968,350, through its major revenue contributor - KUPUTRA gas station.
The evaluation criteria for 100 Best Cooperatives in Malaysia was done through a quantitative and qualitative assessment process, covering the aspects of financial management, competency management, law compliance and business sustainability.
The assessment adopted the average ratio cooperative position (PNK) standards, in line with the criteria used by the International Co-operatives Alliances (ICA). – UPM.
