Koperkasa goes big in real estate business

KUCHING: Koperasi Koperkasa Sarawak Berhad (Koperkasa) is set to penetrate the real estate business.

Its Chairman Alif Bacha Madrashah said a memorandum had been signed with a developer.

“The land to be developed for the housing project is about 34.3ha and located near Matang. Proposed would be 865 units of two-storey detached houses and 20 units of shoplots.

“The unit sales are open to everybody. However, Koperkasa members consisting of government servants and staff of government-linked companies will benefit from our financial packages”, he told a press during Koperkasa’s annual general meeting (AGM) here yesterday.

Alif said the AGM discussed plans and proposals to expand and set up branches  in Lawas and Kapit.

“So far we have six branches all over the state with about 25,000 members,” he said.

Meanwhile, Alif said he believe Koperkasa would rake in more profits this year compared to last year.

“In 2010, our nett profit was an increase of 10.3% or RM6.62mil compared to 2009. This year from January till June we are declaring a RM6.6mil in nett profit – a 2% increase compared to the same period last year.”

The Star, 26 June 2011