Kongsi Co-op

Frequently Asked Questions

FAQs

About Kongsi Co-op

Q1: What is Kongsi Co-op?

Koperasi Kongsi Selangor Berhad (“Kongsi Co-op”) is a cooperative organisation initiated by a group of ordinary people in reflection and in response to the current social issues experienced. We are enthusiastic to co-create a sustainable way of living by connecting our communities and co-exist with nature in a harmonious way.

Our 7 foundations for sustainable living:

  1. Environmental-friendly, organic or biodynamic food
  2. Products made friendly to the people and environment
  3. A green consumption model with minimal wastage of resources
  4. Doing business without exploiting others and nature
  5. Support local farmers and artisans
  6. Provide diverse and holistic education
  7. Create a sustainable community with circular economy
Q2: What is the vision and mission of Kongsi Co-op?

Kongsi Co-op’s Vision and Mission are:

Vision

Kongsi Co-op connects people, soil, and nature to co-create a harmonious ecosystem.

Mission 

  1. To Co-create a platform with the local community to support farmers and producers.
  2. To Connect people with resources – to revive and grow the local economy, especially in rural areas.
  3. To Collaborate with producers and consumers to produce and support organic, biodynamic foods or Earth-friendly products.
  4. To support the Community to become culturally, environmentally, and economically sustainable through education and community services.

FAQs

About Co-ownership

Q1: Who are the co-owners of Kongsi Co-op?

In accordance with Kongsi Co-op’s By-laws, the Co-owner is a registered member of Kongsi Co-op.

Q2: What are the roles and responsibilities as Co-owner?

The co-owners are the foundation of Kongsi Co-op. Their need for a sustainable way of living in creating the circular economy by connecting people, soil, and nature are one of the main reasons for Kongsi Co-op’s existence.

The co-owners have general responsibilities toward Kongsi Co-op. Unlike the passive investor in a general business corporation, the co-owners are the main patrons of Kongsi Co-op and guide the Co-op for it to succeed.

To know more, please attend our Kongsi Co-op Green Carpet.

Q3: Who is eligible to be Kongsi Co-op co-owner?

Malaysians who have reached 18 years old and reside in Wilayah Persekutuan Kuala Lumpur and Selangor.

Q4: How can I become a Kongsi Co-op co-owner?

You will go through a series of activities before becoming a co-owner. Please go through the following step to become a co-owner.

Step 1: You may express your interest by submitting the ‘Expression of Interest Co-ownership’ form here.

Step 2: Attend ‘Kongsi Co-op Green Carpet: An Introduction’. It will be conducted physically or virtually.

Step 3: Submit the ‘Co-Ownership Application Form’ and make payment. We will review your application and notify you of the next course of action within 14 working days.

Q5: Is there any administrative or entrance fee to join Kongsi Co-op as co-owners?

Yes, there is a compulsory entrance fee of RM 100.00 for new co-owners or a re-entrance fee of RM 150.00 for former co-owner.

The fee is a one-off administrative fee payable to Kongsi Co-op upon successful application which is non-transferable and non-refundable.

Q6: How would I know about my application status?

Upon receiving your application with complete documentation,we will review your application within 14 working days. Once the application is approved, the team will notify you of the next course of action accordingly.

FAQs

About Co-ownership Share

Q1: What is the difference between the co-ownership share and the entrance fee of co-owners?

The co-ownership share is the unit of equity ownership of a co-owner in Kongsi Co-op while the entrance fee is an administrative fee in handling the co-ownership application and administration.

Q2: What is the minimum Co-ownership share subscription amount?

Every co-owner must subscribe to a minimum of ONE co-ownership share (equivalent to RM 1,000.00) to gain the benefits of co-ownership and exercise rights.

Q3: Is there any co-ownership shareholding restriction?

Yes, there is a co-ownership shareholding restriction in Kongsi Co-op based on By-laws and regulation. No co-owner shall hold more than one-fifth (20%) of the total share capital or not more than RM 50,000.00, whichever is lower.

Q4: Can I transfer or sell my co-ownership share(s) to others?

The co-ownership share is non-transferable and it cannot be sold to non-co-owners, except as provided in the By-laws and regulations.

Q5: Can I withdraw my shares anytime?

The co-ownership share(s) can only be withdrawn after five years of co-ownership (except in the case of co-ownership termination). However, a minimum of ONE (1) share must be retained to maintain co-owner’s benefits and voting rights in Kongsi Co-op.

Please contact us for more details on the withdrawal matters.