Kosan badly hit by uniform cutback
Published on: Sunday, August 20, 2017
Kota Kinabalu: Korperasi Serbaguna Sanya Berhad (Kosan) is diversifying its business in the bid to cushion impact of the fluctuating global economic that has hampered transformation of its Business Plan.Youth and Sports Minister Datuk Tawfiq Abu Bakar Titingan who is the Chairman of Kosan Board of Director said Kosan must also reduce its dependency on government contracts.Nonetheless, he believed with the capability of the present workforce and wisdom of its board as well as management the cooperative should be able to face the challenges and for that matter boost its income.
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"Therefore the best steps that we should be taking is to maximise production and reduce any external purchasing."This way Kosan will be able to reduce loss and stabilise its worsening financial standing," he said at Kosan's 34th annual general meeting in Wisma Muis here Saturday.His speech was delivered by Assistant Minister Datuk Masiung Banah.According to Tawfiq, Kosan's finance was badly hurt by the government's decision to reduce its school uniform order from two to just one pair.
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Hence, there is a need to figure out the best way to strengthen Kosan's economy to increase income and reduce cost."With a big workforce we need to maximise production," he said.
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Besides that, he said Kosan had started to introduce other products and services such as sewing and supplying corporate shirts, sports attires, baju kurung, baju Melayu among others.In this respect, Tawfiq urged all personnel of Kosan to give full support to these efforts in order to double up returns and allow the cooperative to stand firm on the ground. Tawfiq said Kosan must be independent and reduce its reliance on government orders which in principle can be terminated at any time.He also urged the board members to be attentive to the government's call to continue work hard, hence proving that Kosan is able to uphold the State Government's mission in carrying out its social development responsibility particularly for school children.Since he had been entrusted to lead Kosan and ensure it practice good governance, Tawfiq said he was aware of the great responsibility shouldered by him and the board members in the face of the global economic uncertainty.Stay up-to-date by following Daily Express’s Telegram channel.
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