FREQUENTLY ASKED QUESTIONS
Share is a unit of ownership of a company or its financial assets. Owning one share means owning one unit of the company's assets. In order for a company or co-operative to raise capital, it may decide to sell shares to investors, who will become equity shareholders in the business. The shareholders then have the opportunity to earn yearly DIVIDENDS, with the profit distribution depending on the co-operative's supporting companies' overall financial performance. As in Koperasi MAYI Malaysia Berhad's case, it is supported by all the MAYI Group of companies. The shares can grow in value as the Co-operative expands its financial assets.
The monthly SAVINGS is a separate interest-bearing deposit account held at the Co-operative. Though this account typically pays a modest interest rate, their safety and reliability make them a great option for saving money at the Co-operative.
Mutual funds are very lucrative, but the investment returns in mutual funds depend totally on the market related to the investment portfolio. In this respect, the invested capital can fluctuate positively or negatively, i.e. your capital can be reduced if the market happens to be affected negatively at the time of withdrawal. Just for illustration purposes, and not to be taken as a fact: If the investment was RM1,000,000 in 2000 and you take out your money in 2021 at a time when the market is down, what you get in return can be RM400,000 only (lower than the capital amount).
The stock market is also affected by similar fluctuations, and investors can lose all their money if the investment is not managed well. The other ethical issue to consider is what the stocks are invested in: It can be poultry companies, which slaughter innocent animals by the millions; restaurants that serve substandard food/service; companies that practice racial or other discriminating practices; developers who use ill-treated construction workers; companies that use bribes and other methods to win tenders and contracts, etc. - These are some of the facts observed worldwide, which may not be applicable in many markets.
In Malaysia, the laws are stringent and clean as we have a very strong ethical process and we are governed by the tenets of Rukun Negara. However, the fluctuations of the stock market are real. Koperasi MAYI Malaysia Berhad doesn't invest in the stock market or mutual funds at all. It invests in sound business ventures, where the vision and mission are to assist self, family, country, humanity, and nature.
*The investment in the Co-operative is a personal asset belonging to each of the shareholder. When we have assets in the form of buildings, those assets collectively belong to the shareholders.
One unit of share is RM1,000, but the first payment is RM1,266. The breakdown of the payment is as below:
Form and Processing Fee: RM16
Co-operative Membership: RM30
Entrance Fee: RM20
One (1) Unit of Share: RM1,000
Bereavement Support (Khairat Kematian): RM200 (members to pay this amount every 5 years)
The first 500 members can buy up to 3 shares each, and thereafter only 1 share is allowed for each member. Please contact the Co-operative office or any of our Board Members to know if you are still within the first 500.
The minimum savings per month is RM100. One can choose to pay ahead for the entire year. For example, if one wants to save RM200 a month, then one can pay RM2,400 for the entire year.
The minimum amount is RM1,200 per year, and one can choose to pay as and when one wants, but within the one year at least 80% of the amount must be reached to be eligible to get the annual interest and to continue being a member.
Koperasi MAYI Malaysia Berhad has decided on a minimum of 3% per annum, however, it also depends on the financial status of the co-operative at the time of interest payment.
Koperasi MAYI Malaysia Berhad has decided on a minimum of 3% per annum, however it also depends on its financial performance.
Yes. A processing fee of RM10 will be charged.
The co-operative encourages members to actively save at least RM100 per month. This will be a minimum of RM1,200 a year. But if a member fails to fulfil at least 80% of the required saving amount in a year, then after 3 years a membership termination notice will be sent.
The Co-operative encourages members to save, as such no limitation has been imposed. Members can save as much as they want.
Yes. For example, if a member chooses to save RM200 a month, he/she can pay RM2,400 upfront for the entire year. This amount can also be given as and when the member has money.
- You will have part ownership in the Co-operative's assets through the shareholding.
- You will be able to save a monthly amount under the saving mechanism provided by the Co-operative. Saving under a co-operative is safer and more protected; also, members can take out this amount whenever needed. The interest gained via the saving is also higher compared to the interest paid by a bank.
- Receive bereavement support (khairat kematian) payout at these rates: 1st year: RM1,000; 2nd year: RM1,500; 3rd year: RM2,000; 4th year: RM2,500; 5th year: RM3,000
- Be eligible for the interest-free monthly payment to buy MAYI Waters' air-water-generating machine.
- Be eligible to get assistance to buy MAYI Group businesses-related products and services, with applicable terms and conditions in place. No bonuses or overrides, etc. are given by the Co-Operative for this, and it is only given as temporary assistance for members to kick start their businesses.
A member may be able get a loan of 80% from the amount saved at the Co-operative at a very low interest. However, this loan is only to buy MAYI products, for example the MAYI Infinity herbal products or the MAYI Waters machine to do the business. However, this is subject to approvals and further clarifications from SKM.
Yes. All members must adhere to the Co-operative By-Laws