XN000022-1992-07-04 — Page 3

2

SATURDAY, JULY 4, 1992

THE

THE DIRECTOR WAS PLEASED TO NOTE THAT RAISING CO-OPERATIVE SOCIETIES, WITH A TOTAL SOCIETIES, CONTINUED TO REFLECT MEMBERS PROBLEMS FACED BY THE LOCAL INDUSTRY.

*

FEDERATION MEMBERSHIP

OF

PIG

OF

22

VIEWS TO THE GOVERNMENT ON

IN JANUARY THIS YEAR, DR LEE SAID, THE FEDERATION ORGANISED A VISIT TO ADVANCED PIG BREEDING CENTRES IN IOWA, MINNESOTA AND ΟΗΙΟ, USA TO PURCHASE HIGH QUALITY BREEDING STOCK FOR ITS MEMBERS.

THE FARMERS' CO-OPERATIVE SOCIETIES HAVE ALSO CONTINUED TO PLAY AN IMPORTANT ROLE IN THE DISTRIBUTION OF AGRICULTURAL CREDIT, HE SAID, ADDING THAT A TOTAL OF $240,000 FROM THE SOCIETIES' OWN REVOLVING LOAN FUNDS WAS ISSUED TO MEMBERS.

"HOWEVER, THE MAJOR ASSISTANCE STILL CAME FROM THE GOVERNMENT IN THAT 39 PER CENT OF THE TOTAL $7.7 MILLION LENT ΤΟ FARMERS FROM VARIOUS LOAN FUNDS ADMINISTERED BY AFD WERE CHANNELLED THROUGH THESE SOCIETIES, HE ADDED.

|

ON URBAN CO-OPERATIVE MOVEMENT, DR LEE NOTED THAT THE EXISTING 10 CONSUMERS' CO-OPERATIVE SOCIETIES CONTINUED ΤΟ ENJOY ANOTHER SUCCESSFUL YEAR, RECORDING A GROSS TRADING SURPLUS OF $2.2 MILLION.

PER

COMPARED WITH LAST YEAR'S FIGURE, THIS WAS AN INCREASE OF FIVE CENT DESPITE THE KEEN COMPETITION FROM SUPERMARKETS AND NEIGHBOURING STORES, HE SAID.

"CO-OPERATIVE BUILDING SOCIETIES HAVE CONTINUED то TRANSFER LEGAL TITLE TO FLATS AND LAND TO INDIVIDUAL MEMBERS.

"AS AT MARCH 31, 1992, A TOTAL OF 63 SOCIETIES HAD APPLIED FOR VOLUNTARY DISSOLUTION IN ORDER TO TRANSFER TITLES TO FLATS AND LAND TO 1,151 MEMBERS. OF THESE APPLICATIONS, 24 SOCIETIES HAD COMPLETED ALL THE NECESSARY FORMALTIES AND TRANSFERRED THE TITLES TO 406 MEMBERS. HE SAID.

प

DURING TODAY'S ANNIVERSARY CELEBRATIONS, DR CERTIFICATES OF APPRECIATION TO FIVE STAFF MEMBERS IN THEIR LONG AND DEDICATED SERVICE TO THE MOVEMENT.

LEE PRESENTED

RECOGNITION OF

HE ALSO TOOK THE OPPORTUNITY TO EXPRESS HIS APPRECIATION то HIS DEPUTY DIRECTOR, MR HAROLD KWOK AND THE ASSISTANT DIRECTOR (FISHERIES) DR YIP KAE-SANG, WHO WOULD BE RETIRING IN OCTOBER AFTER COMBINED SERVICE OF MORE THAN 70 YEARS IN THE GOVERNMENT.

A

0

vrt

/3