Opening Speech For AGM Of KOJADI

June 24, 2018 at 12:02 pm


Speech by MCA President Dato’ Sri Liow Tiong Lai

On the Occasion of the
36th Annual General Meeting of Koperasi Jayadiri Malaysia Berhad
24 June 2018

Datuk Ng Peng Hey, Chairman of Koperasi Jayadiri Malaysia Berhad,

Directors and representatives of Kojadi,

A very good morning to everyone.

1. It is as much an honour as it is a delight to me that the board of directors of KOJADI has invited me to preside over the opening ceremony of the Annual General Meeting 2018.

2. Since its inception in 1981, KOJADI with the support of its members, has successfully realised its principal aspirations and not let the Malaysian Chinese community down. As its founder, MCA could not be prouder of KOJADI’s achievements.

3. Reflecting on what has transpired in the past 36 years, I notice that the key to KOJADI’s stable operations lies in one word- timeliness. The cooperative is able to adapt to fleeting opportunities and emerging threats; adapting its loan schemes and services to better accommodate the needs of its members.

4. KOJADI is one-of-a-kind amidst the 14,000 cooperatives residing in our country. Simply in terms of education, KOJADI has issued over RM255 million in loans — loans which have benefitted approximately 11,000 students. Education loans are sort-of the signature of KOJADI; aside from the government, it is one of the most prominent loan scholarship organisation in our country.

5. While initially KOJADI started off with the goal to become an effective education loan facility, it has since embraced diversification. It now provides loans for enterprises and these include the Micro-Credit Loan Scheme for Youth, TUKAR (Transformasi Kedai Runcit), ATOM (Automotive Workshop Modernisation), and the government-provided, interest-free loans worth RM150 million to help Chinese SMEs. These are all in line with the needs of its members and the community.


6. I am glad that KOJADI has not forgotten its origins amidst all the transformation. Amidst promoting its commercial loan schemes, it has continued to extend and expand available education loan schemes. If my memory serves me well, KOJADI has already launched 13 different education loan programmes, covering various fields from vocational education to postgraduate courses. I believe this makes KOJADI the one and only organisation in Malaysia to provide such extensive consideration to meet the needs of students’ skills’ training and tertiary education.

7. To my knowledge, the KOJADI SME Loan Scheme, started back in 2015, has so far issued over RM127 million in loans, benefiting a total of 693 members. These SME loan schemes have played an active role in endorsing domestic SMEs, especially Chinese SMEs.

8. As we speak, KOJADI has already managed to establish itself as a major financial institution for SMEs. What is more commendable right here is that the percentage of non-performing loans for SMEs has stayed below the threshold of 1%. This demonstrates that KOJADI has rigorously assessed loan applications and maintained a professional attitude in their credit management. I hereby congratulate KOJADI, and have high hopes that they will persistently preserve this excellent record.

9. At the same time, I hope too that KOJADI can introduce more innovative packages in the financing of SMEs, and turn it into yet another signature product that we can all be proud of.

10. Dear ladies and gentlemen, as a cooperative, I trust KOJADI will continue to keep to the spirit of self-help and mutual assistance as it innovates. I remain hopeful that KOJADI will be able to grab on to business opportunities brought about by new business models and new technologies such as artificial intelligence, big data, or the internet of things – all to create new wealth for the members and ensure the sustainability of KOJADI.

11. As I conclude my speech, it is with utmost pleasure that I announce the official opening to the 36th Annual General Meeting of Koperasi Jayadiri 2018.

12. Thank you.

// End