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  Home > National

KOTIBA Organised Meeting, New Members Elected


 May 2nd, 2016  |  05:27 AM  |   988 views



Members of Koperasi Persatuan TIBA (KOTIBA) gathered at the multipurpose hall of the Sultan Sharif Ali Secondary School yesterday, for the association's 32nd annual general meeting.


During the meeting, Awang Haji Rosdi Amin bin Dato Paduka Haji Yaakub, Chairman of KOTIBA, talked of the low profit margins at the Kampong Salambigar petrol station, owing to current mismanagement and oversight.


Since its inauguration in 1981, KOTIBA has been managing a petrol station at Kampong Salambigar. In 1999, the station underwent major renovations, which enabled the association to distribute its first shares for the year 2000, totalling 10 per cent.


"Basically, the KOTIBA station continues to operate, but the profits of $357,732 gained from last year were lower than the $410,236 in earnings from 2014, which shows a deficit of $52,504, or 13 per cent," said Haji Rosdi.


He attributed the decline to a number of factors, which included irregular deliveries of fuel, long car queues and frequent absenteeism among the station attendants.


To address this problem, Haji Rosdi said that the new board of directors would be introducing strategies, including reorganising the management system at the Kampong Salambigar petrol station.


"The management and the new governance will work as one integrated team in taking a holistic approach, while at the same time being responsible for KOTIBA as well as Persatuan TIBA," he said.


He explained that the new governance would carry out strict control of financial affairs, upgrade services, introduce appreciative programmes for customers and offer attractive rewards for KOTIBA employees.


At yesterday's meeting, the association members submitted the annual reports for the KOTIBA Board of Directors and the financial log for the year 2015, appointed new auditors for the financial year of 2015-2016, and dissolved the previous board of directors by electing new members to supervise KOTIBA.




by BruDirect.com


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