“Share Redemption Fund ” is a special fund set up by the Board in 1992 in accordance with the provisions of the By-laws. Allocation to the ‘Fund’ is apportioned from the annual net profit of KOJADI subject to approval of the AGM on recommendation of the Board. The purpose of setting up the “Share Redemption Fund” is to cater for the needs of members who wish to redeem their shares in the co-operative.

A member shall fill in the application forms prescribed by the Board.

Yes, the member should read Section “E” carefully and ensure that all relevant document(s) are enclosed when submitting the application form.

Generally, the major qualifying factors that will be prioritized include : –

        a) upon the death of the member;  (application is to be made by nominee or legal representative or immediate family)
        b) upon attaining the age of 70 years or above in the case of a member who has been a member of KOJADI for more than 10 years;
        c) if the member is suffering from permanent disablement or prolonged / serious illness resulting in his total loss of earning power;
        d) if the Board in its sole and absolute discretion decides that the member is in urgent financial need; or
        e) other reasonable reasons.

This will depend on the number of valid applications and allocation to the Fund. Based on the factors above, the Board will decide the qualifying applicants at its sole discretion.

This will depend on the allocation to the Fund. Generally, there is no ceiling of amount fixed for the share redemption if the application is successful.

Estimated within 2 weeks