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Share Redemption Fund
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QUESTIONS & ANSWERS

1. Q: What is "Share Redemption Fund" and what is the purpose of the "Fund" ?

    A:  "Share Redemption Fund" is a special fund set up by the Board in 1992 in accordance with 
          the  provisions of the By-laws. Allocation to the  "Fund" is apportioned from the annual net profit
          and Statutory Reserved Fund  of  KOJADI subject to approval of the AGM on recommendation
          of the Board. The purpose of setting  up the "Share Redemption Fund" is to cater for the needs
          of members who wish to  redeem their  shares in the co-operative.

2. Q: How shall a member apply for the Share Redemption Fund ?

     A: A member shall fill in the form of APPLICATION FOR SHARE REDEMPTION (MEM/R039)
         prescribed by the Board. The form can be obtained from KOJADI's office at 11th Floor,
         Wisma MCA, Jalan Ampang, 50450 Kuala Lumpur or our local director or our delegate or local Area
         Liaison Committee. Photostat copy of the form is acceptable, but such form should be clearly written
         or typed and duly signed by the applicant.

3. Q: Are there any important points to draw attention of a member in filling up of the 
        application form ?


    A: Yes, the member should read Section "E" carefully and ensure that all relevant document(s) 
         are enclosed when submitting the application form.

4. Q: Are there any rules governing the operation of the Fund ?

    A: Yes, the Board has approved the "Rules of KOJADI's Share Redemption Fund" governing the 
        operation of the Fund. The Rules are attached together with the application form. Members 
        concerned are required to read the Rules before filling in the application form.

5. Q: Is there any method or system in the evaluation of applications ?

    A: In order to implement the Fund in an orderly and systematic manner and also to be fair as far as 
        possible to the members concerned, a "Point System" has been adopted by the Board in its 
        evaluation of applications. Specific points will be given to an applicant based on various factors 
        such as duration of membership with KOJADI and age of the applicant etc. Applicants who meet 
        the minimum qualifying points will be approved to redeem their shares. Generally, the major 
        qualifying factors that command high points include : -
        
        a) upon the death of the member;  (application is to be made by nominee or legal representative)
        b) upon attaining the age of 70 years or above in the case of a member who has been a member 
            of KOJADI for more than 10 years;
        c) if the member is suffering from permanent disablement or prolonged / serious illness resulting 
            in his total loss of earning power; or
        d) if the Board in its sole and absolute discretion decides that the member is in urgent financial
            need.

6. Q: Will all valid applications be successful ?

    A: This will depend on the number of valid applications and allocation to the Fund. Based on the 
        point-system above, the Board will decide the qualifying points and select successful applicants 
        at its sole discretion.
        Unsuccessful applicants for the "Fund" need not re-apply, as their applications will be   
        automatically reconsidered at the next selection process.

7. Q: Is there a ceiling of the amount fixed for the share redemption fund ?

    A: There is no ceiling of the amount of share redemption, all successful applications will receive full
         redemption amount.

8. Q: How soon can a member get back his redemption sum if he is successful in his 
        application ?


    A: Barring unforeseen circumstances, the successful member-applicant will be able to get back his
        redemption sum within a month upon receipt of the “SRF Payment Advice” and relevant document
           (eg. Original share certificate, etc) by the Society.