Our 83rd Annual General Meeting saw the attendance of 94 members, exceeding the quorum of 30 required for the meeting.
In the opening speech by Mr Ng Joo Hee, President of Police Co-op and Commissioner of Police, he commended the Co-operative for delivering another year of good results despite uncertain conditions, a global slowdown and restrictions in investment options by the Registrar of Co-operative Societies.
Police Co-op declared a $4.5 million surplus for Financial Year 2012, and the Board of Directors recommended a 3.75% dividend payout for Financial Year 2012.
Mr Ng congratulated the Board for crossing the 10,000 membership mark, and is heartened to learn that out of the 830 new members who joined the Co-operative in FY2012, 72% of them are below 30 years of age. He reiterated the importance of reaching out to even more young officers, in order for the Co-operative to continue flourishing.
He also encouraged the Co-operative to continually review and monitor its products, services and delivery channels to ensure that they stay relevant to the needs and expectations of its members and prospective members.