Ripin (second row eight left) is seen during a photo call with organisation members.
MIRI: The Subis Farmers Organisation (SFO) achieved a business turnover of RM21.89 million and a pretax profit of RM1.5 million last year.
This placed the organisation among the top achievers in the state.
“Subis Farmers Organisation has been able to stand on its own feet, operating from income derived since 2002, and being the first to pay corporate tax with Muslim members paying zakat,” said Lambir assemblyman Ripin Lamat when officiating at the organisation’s 31st annual general meeting on Wednesday.
He attributed the organisation’s success to its committed board of directors and sound management.
“The management’s emphasis on planning, implementation, monitoring and auditing has resulted in this success and I look forward to the board continuing its good governance practices,” he said.
Ripin urged members to continue supporting the board as business is cyclical.
“Every business has its own risks, but what is important is that we must be ready and be well prepared to overcome or reduce such risks,” he said.
Board chairman Penghulu Lansam Goyang said the organisation has come a long way since it was established.
“It may seem illogical that the paid capital is RM535,000 in contrast to business volume of RM21.89 million and a pretax volume of RM1.5 million in 2013, but SFO has done it,” he said.
Lansam said the organisation would remain true to looking after the interests of members while striving to generate income through its operations.
The Subis Farmers Organisation was established in 1984 but it only began to take off in 1997 when it shifted to become a business-driven entity.
Dividends totalling RM480,000 was paid out between 1985 and 2012.
Membership stood at 5,345 as of May.