KUALA LUMPUR, June 18 — Koperasi Angkatan Tentera Malaysia Berhad (Koperasi Tentera) today announced a seven per cent dividend to its 156,156 members involving a payment of RM130.4 million for the year 2022.

Deputy Defence Minister Adly Zahari said the dividend payment was much higher as compared to RM89 million in 2021.

"We will get approval from the Cooperative Commission of Malaysia (SKM) for the payment of the dividends to the members and it is our intention to channel them before Hari Raya Aidiladha,” he told a press conference after officiating Koperasi Tentera’s 57th annual general meeting at Wisma Perwira here today.

He said the financial performance of Koperasi Tentera also recorded a net income of RM256 million for the year 2022 with profit before tax and zakat amounting to RM154 million.

He said the encouraging performance was the result of financing offered to Small and Medium Enterprises which was increasing.

Meanwhile, Adly said that in the last 10 years, Koperasi Tentera had channelled contributions totalling RM17.7 million or an average of RM1.7 million per year to its members.

"This has benefited a total of 42,706 members covering the aspects of education, medication and general donations in addition to death benefit contribution amounting to RM572,000 distributed to members’ heirs in 2022.

"This is direct contributions paid to take care of the welfare of members and their families,” he said.

He said Koperasi Tentera also achieved further success when it received recognition as a premier cooperative from SKM in 2022 for the third consecutive year. — Bernama