History & Milestones
HISTORY & MILESTONES
KT has a proud history and a rich heritage of serving the community
Our journey began in 1960 with the establishment of Koperasi Angkatan Tentera Malaysia Berhad, commonly known as Koperasi Tentera (KT). Founded as a thrift and loan co-operative, KT was created to enhance the socio-economic status and welfare of Malaysia's Armed Forces members.
1975, KT transitioned into a multi-purpose cooperative, embarking on a more dynamic path.
In 2012, we launched a focused transformation journey to become a vastly improved
organization with limitless potential. By 2017, we had achieved our transformation
plan's goals, maintaining growth and steady performance despite market challenges.
1960's
KT begins operating from the Ministry of Defence premises at Jalan Padang Tembak
in KL. A management committee, led by its first Chairman, Colonel Ishak bin Shafie,
is appointed from full-time Armed Forces personnel. The Armed Forces Payroll
Services (UGAT) manages salary deductions and membership fees, which are
crucial to KT’s success. By 1965, KT had registered 2,000 members. In 1966, a Loan
Policy was introduced to curb habitual borrowing. Permanent staff were hired in 1968
to improve staff continuity, enhancing administrative practices throughout the decade
1970's
Colonel Loo Yew Phin consolidates KT’s accounts, enabling a focus on profit-making.
Brigadier General Dato’ Hassan bin Haji Mohd Saleh, Chair of the Management
Committee (1975-78), collaborates with Royal Professor Ungku Aziz to draft bylaws
that transform KT into a multi-purpose co-operative, setting a national standard. In
1978, the Management Committee was renamed the Board of Directors. KT
launched the first Suara Koperasi in 1976 and introduced group insurance for the
armed forces, among the first globally. The corporate logo was unveiled in 1977. By
the end of the decade, KT's membership reaches nearly 40,000, with significant
investment activity growth and housing sector entry.
1980's
KT hires private sector professionals for their expertise and relocates to its office in
Plaza Permata, Kuala Lumpur. Credit facilities see a three-fold increase, and the
investment portfolio expands. In 1983, KT launched the Higher Education Loan
Scheme. By the end of the decade, membership had grown to 79,173 members.
1990's
KT capitalizes on IT infrastructure and receives several accolades: the Award of
Excellence by the National Co-operative Organisation of Malaysia (1991), the
Certificate of Commendation by the Co-operative College of Malaysia (1992), and
the Prime Minister’s Quality Award for the Social Sector (1993). In 1996, KT
relocated to the new Jalan Pahang Barat headquarters to serve its members better.
The decade also sees enhanced collaboration between the management team and
the Board of Directors.
2000's
In 2003, KT successfully converted conventional loans to Islamic financing. By 2005,
KT earned an “I” rating from Bank Negara and the Department of Co-operative
Development and won the National Co-operative Award. In 2006, KT transformed its
Group Insurance into a Takaful plan, and Dato’ Ahmad Zahudi was appointed CEO,
introducing Penyataan Arah to guide KT’s vision, mission, and action plans. KT
receives the MS ISO standards certification for its processes in 2003, 2004, and
2009. By 2010, KT’s profits and total assets increase by 658% and 642%,
respectively, reaching RM158 million and RM2.2 billion. Throughout the decade, KT
has intensified financing activities using external funds.
2010's
In 2010, KT earned recognition as a cooperative of excellence in the large cluster
category by the Cooperatives Commission of Malaysia (CCM), honoring its
outstanding business finance, management, and corporate governance practices. KT
partnered with Great Eastern to establish Great Eastern Takaful Malaysia in October
2010. Branch expansions include Sungai Besi (2013) and Temerloh (2015), with
Labuan opening in March 2015 and Ar-RahnuKT in Subang Perdana Shah Alam in
November 2015. Noteworthy awards include the National Cooperative Award (2013),
Anugerah Tokoh Koperator Wilayah Persekutuan (2014), and Best Cooperative
(2015) by JPAN. In 2016, KT collaborated with Tata Consultancy Services to develop
its Core Banking System. KT also receives multiple awards, including the Best
Cooperative Award and Best Cooperative Profile (2016), and secures second place
for Best Cooperative in Wilayah Persekutuan (2017). Additionally, KT's Chairman
signed the integrity pledge at the Co-op Bank Corporate Governance Training and
Integrity Pledge Ceremony in 2017.