PEKIRA’s Shares For New Petrol Station On Sale
By Rosh Abidin Yahya

Bandar Seri Begawan - More than 50 former civil servants yesterday attended the launch of sale of shares for a petrol station to be ran under a new company of the Pekira association.

Their presence demonstrated their support towards the opportunity to improve their economic standing in the long run.

Many members, who were not in possession of the forms, were seen lining up to get documents from the president of their association.

The launching ceremony, held yesterday morning at the Pemodo Restaurant in Jalan Telanai, marked the beginning of a corporate era of Pekira as it promised members more viable and fruitful projects in the future if the proposed one showed early success. The company that will run the petrol station.

If professionally run, the eight-year-old association could one day emulate the success story of another organisation, the Malay Teachers Association (PGGMB), which has a myriad of assets, capitals and businesses.

On hand to launch the sale of shares was Pg Dato Paduka Hj Jaludin Pg Mohd Limbang, Pekira's president, who is also the Chairman of the Board of Directors for the Ikatan Teluk Mewah Sdn Bhd (ITM).

In his keynote address, Pg Dato Paduka Hj Jaludin thanked Hj Awg Hj Ibrahim as well as his brothers and sisters for allowing Pekira to use their land in Mukim Mentiri as a location for the petrol station.

"Because of the cooperation, Hj Awg Hj Ibrahim as well as his brothers and sisters had agreed to form the new company ITM where 35 per cent of the shares were allotted to the family, and another 15 to the population of Mukim Mentiri.

"Therefore, Pekira members have been allocated 50 per cent of the petrol station or 500,000 shares," he said.

He said that a member could purchase a minimum of 2,000 shares priced at B$1, each and no more than 50,000 shares. Forms to join in the investment scheme will still be available until July 14.

Any member can put in a deposit of $500 for any commitment he or she makes but it must be fulfilled by September 30.

They can also pay cash for the intended investment.

He then urged all members to demonstrate their support in the project by purchasing petrol at the new location when it is ready.

The petrol station is expected to be fully operational by the middle of next year. -- Courtesy of Borneo Bulletin

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