PERDANAJAYA IN RETROSPECT
A Brief History
KOPERASI PERDANAJAYA MALAYSIA BERHAD [PERDANAJAYA] (formerly known as The Malaysian Co-operative Printing Press Society Ltd) was registered on 18 January 1962 with a view to provide a one-stop printing service to the co-operative sector.
The Glorious Years
PERDANAJAYA’s printing business became profitable in 1969. For 11 years till 1980, it operated profitably and for the period 1971 till 1980, an average of 8% dividend was paid annually to members. This period will go down as the glorious years of PERDANAJAYA’s printing business.
PERDANAJAYA’s fortunes changed in 1981 and its business fell from a peak of RM2.55 million in 1986 to only RM0.57 million in 1991. PERDANAJAYA suffered losses continuously from 1981 to 1983 including in its venture into the Co-operative Autoworks Malaysia Limited. It finally bit the bullet and ceased printing operations on 31 December 1991 with total accumulated losses of RM1.72 million, nearly wiping out PERDANAJAYA’s entire share capital of RM1.831 million at that time. Of the 27 staff employed, 25 were retrenched and retrenchment benefits of RM183,176 were paid. PERDANAJAYA’s prime assets, namely the building and land were sold for RM7.5 million in 1995, thus bringing to a sad end 26 years of a colourful history as the only co-operative printer in the country.
Start of a New Era for PERDANAJAYA – Revival
Plans were made to start a new era picking up the pieces and defining a new role for PERDANAJAYA. For a start, bonus shares of 1:1 were declared capitalizing part of the gains from the sale of the land. The liquid funds were channelled into purchase of properties and between 1994 -1997 several properties were acquired comprising a four – storey building in Pasar Borong, Selayang, Kuala Lumpur; a terrace factory (under construction) in Jalan Meru Selangor; a 2 unit 3 storey shophouse in Taman Desa Bakti, Kuala Lumpur and a 3 storey shophouse at Bandar Baru Selayang, Selangor, thus converting the Society into a Property and Investment Holding Co-operative.
Amendments to By-Laws
In 1998 amendments were made to the By-Laws to enable the co-operative to go into a wide range of services and business, namely provision of personal loans, consumer activities and services, housing, property development, construction, plantation and industrial activities.
In keeping with its new role, the co-operative’s name was changed to KOPERASI PERDANAJAYA MALAYSIA BERHAD on 29 June 1999.
Some of the significant historical milestones of PERDANAJAYA are as follows:-
1962 - Inauguration and Registration
1964 - Purchase of land in Petaling Jaya
1967 - Official opening of the Printing Press
1983 - Restructuring of the Business Operations
1991 - Printing Press ceases operations
1993 - Building and land sold
1997 - Entry into provision of educational services
1994 - New properties purchased
1999 - Amendments to By-Laws approved
2000 - Office of PERDANAJAYA shifted to own building in Bandar Baru Selayang Selangor
2003 - Commenced personal loan credit scheme
PERDANAJAYA moved into its new home at No: 16A Jalan 2/6 Dataran Templer, Bandar Baru Selayang 68100 Batu Caves Selangor Darul Ehsan on 1 st October 2000.