OFFICIAL OPENING: Che Hasni Che Ahmad (centre) signing on the plaque during the opening of a Ar-Rahnu KT branch in Kuala Lumpur yesterday. — Bernama photo
KUALA LUMPUR: The Koperasi Angkatan Tentera Malaysia Bhd (KATM) is aiming for a profit of more than RM1 million from its Islamic pawn broking segment, Ar-Rahnu KT,into a year of its operations.
The profit target will be driven by the opening of more Ar-Rahnu branches throughout the country.
KATM Chairman Jeneral (R) Datuk Paduka Che Hasni Che Ahmad said at present, Ar-Rahnu KT has operations in Sungai Besi (Kuala Lumpur), Sungai Udang (Melaka) and Kluang (Johor).
“This year, we plan to open four more Ar-Rahnu KT branches in the Klang Valley and in the north.We have allocated RM300,000 for the opening of each branch and expect a return on investment after a year of operations,” he added.
Che Hasni was speaking to reporters after officiating the opening of a Ar-Rahnu KT branch here yesterday.
He said since starting operations on July 5 last year, Ar-Rahnu KT had attracted about 1,000 customers, with 65 per cent being members of the public and the rest from among members of the cooperative.
Ar-Rahnu KT offers loans of up to 70 per cent of the gold value as well as lower charges.
Apart from the Ar-Rahnu product, the Armed Forces Cooperative also offers insurance products, personal financing and investments.
The KATM was formed in 1960 with 140,000 members and to date, has assets worth RM2.3 billion. — Bernama