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SAMULCO holds 54th General Assembly Meeting

Hofileña back at the helm

Sta. Ana Multipurpose Cooperative (SAMULCO) successfully held its 54th Annual Regular General Assembly Meeting (ARGAM) on March 26, 2023 in a hybrid setting, both physically at Rizal Memorial College (RMC) Petrogazz Arena, Davao City, as well as online via Zoom and Facebook Live.

This year’s ARGAM resumed physical gathering of the SAMULCO members after more than 2 years of holding meetings on virtual mode only because of strict Covid-19 health protocols. Along with the reporting of SAMULCO’s performance was the election of Board of Directors, Audit Committee and Election Committee members. SAMULCO’s accomplishments for the years were presented by Chief Executive Officer Ruel S. Ricabo which highlighted its consolidated revenue of P338M which increased by 19.36% from last year. All time high Net Surplus of 125M was also achieved that gives the highest interest on Share Capital of 12.03%.

On the other hand, newly elected officers officially took the oath of office administered by Inducting Officer, Atty. Mohammad Jamaludin A. Guinomla, CPA, SAMULCO’s Legal Counsel, at Grand Men Seng Hotel, Davao City, on April 1, 2023. Director Victor Bonifacio O. Hofileña is back at the helm as he regains his position as Chairperson of the Board while outgoing Chairperson Joselito O. Santillan was elected as Vice-Chairperson of the Board during the reorganization of elected officers. Meanwhile, Judy R. Vasquez, CPA and Erlinda M. Tuble took the post as Chairpersons of the Audit Committee and Election Committee, respectively.

“We have to give our best not only for us but especially for our members, kasi that is what we are here” Chairperson Hofileña stressed in his acceptance speech.

Supervising Cooperative Development Specialist Antonio C. Escobar also graced the occasion and gave inspiring message on the importance of democracy. He ended it with the statement “The officers are not alone. With you, they are very strong and SAMULCO is indeed very strong”.