KUCHING: Koperasi Koperkasa Sarawak Berhad is planning on increasing its property portfolio as part of its strategic investments.
Its chairman Fathi Hambali said Koperkasa aims to continue making such investments not only in Sarawak but also in Peninsular Malaysia.
Speaking at the launching of Koperkasa’s new building at Jalan Satok here on Monday (April 29) he said the proposal to purchase the new building was suggested by the members of its board during the 68th Annual Representative Meeting of Koperkasa on July 16 for investment purposes.
“Inflation directly affects the economy by drastically reducing purchasing power, while income generated from property investment has a high impact on property value,” he said.
“Therefore, property investment is the best investment because it is not influenced by depreciation even during national inflation.”
At the launching, the Chief Political Secretary to the Premier of Sarawak, Fazzrudin Abdul Rahman, credited its success today to every decision made by its board since its formation in 1949.
“Most importantly it is the great and efficient management of Koperkasa, which includes accountability and transparency,” he said .
“This should be emphasised to ensure the organisation achieves higher standards.”
Having said that Fazzrudin reminded that external factors also contribute to the success of business including political stability, government strength, government procedures, and the transparency of a government in carrying out their responsibilities.
“These factors will enhance and further enrich the business ecosystem,” he added.
In the same event, Koperkasa also handed over its zakat cheque to Tabung Baitulmal Sarawak (TBS) and also Wakalah cheque to the Lembaga Kebajikan Anak-Anak Yatim Negeri Sarawak (Peryatim).
