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.