New Mambulao co-op to launch February 8

 

The new cooperative logo, minus the line "Mambulao is on a Roll"

The MMPC banner that will usher in its launch on Saturday, February 8. - MMPCpic

By ALFREDO P HERNANDEZ

A NEW consumer cooperative in Mambulao, CamNorte, will launch on Saturday, February 8.

It is also expected to announce its first business venture with a projected net income of P146,960 during the first year of operations.

The Mambulao Multi-Purpose Cooperative (MMPC), which was registered recently with the Cooperative Development Authority (CDA), is expected to engage in dry goods trading, catering to consumers in Mambulao.

As of January 7, the co-op has a bank cash balance of P333,655, which will fund its initial operations.

The money was raised from incorporators’ contributions and membership fees over the past one year.

MMPC has yet to announce its specific business activities to its shareholders, although in recent postings on the co-op’s Facebook account, Elsie Dimaunahan, the co-op treasurer said they were looking at running a consumer store and lending services.

Dimaunahan will shortly disclose disclose the location of the co-op’s store, which is believed to be rent-free.

Its projected financial statement for 2014 did not show the amount of rent for business space as part of its monthly overheads.

The co-op’s license as a multi-purpose co-op allows it to engage in more than one business activities.

Based on its projected gross income of K2 million for 2014, its first year of operations, it is believed that MMPC will engage in wholesale trading and retailing of consumer products.

The projected net surplus of P146,960 for 2014 will come from a total income of P252,260 after deducting the projected cost of sales of P1.84 million from gross revenue (from sales) of P2 million.

MMPC has 100 incorporators based overseas and locally.

Meanwhile, MMPC and the Mambulao local government has joined forces to venture into various livelihood projects aimed at providing jobs to the less privileged members of the community.

One of the projects being considered is the production of fruit preserves, which have big market in the province and in Metro Manila.

Under the partnership, MMPC will procure the raw materials, pay the workers and transport the finished products to the market.

The local government, on the other hand, will provide the training center and conduct skills training for qualified Mambulaoans.

It will also shoulder indirect costs such water and electricity.

Dimaunahan also said the co-op has amended the design of its official logo, by deleting the “Mambulao is on a roll” line in the logo.

She said the move was in compliance with the CDA policy on registering cooperative names.

MMPC has a CDA registration number 9520-05023926.

The co-op is also in the process of applying for tax exemption from the Bureau of Internal Revenue (BIR), being a cooperative venture.

The co-op is maintaining its bank account with a rural bank in Mambulao.

 For comment, email the writer: ahernandez@thenational.com.pg