This year’s AGM saw one of the biggest turn out by members in recent years. We hope to see members continue to support and take an interest in the Company’s affairs.

The meeting discussed and made the following decisions: –

1. Received and adopted the Financial Statements for the year ended 31 December 2011 and the Reports of the Directors and Auditors thereon.
2. Re-elected Pn Habsah Hassan and Ad Samad as Writer Directors and elected Jackie Urban Poh of NSR Music Publishing Sdn Bhd as the Local Publisher Director replacing Norkhayati binti Mohd Hashim from Kelarai Sakti Publishing Sdn Bhd.
3. Re-appointed Ernest & Young as Auditors of the Company and authorized the Board to fix their remuneration.

Members were updated on the financial performance of the Company for the year 2011 by the Chairman. Gross Revenue grew by 14% to RM41.2m compared to RM36.1m in the previous year. General Licensing recorded a 12% growth, Broadcast 9% and New Media grew by a significant 29%! General Licensing contributed 57% of the Total Revenue, while Broadcast constituted 24%, New Media 16% and the balance 3% came from Other Income such as interest. Despite the 14% revenue growth, expenses were contained at RM3.4m representing a 6% increase resulting in an Excess Revenue before taxes of RM37.8m or a 15% growth from RM32.9m in the year 2010.

Membership now stood at 2,995 comprising 2,881 writers and 114 publishers. 73% of the members are Full Writers members and 3.1% are Full Publisher members. Several membership activities were organized since the last AGM namely, briefing for members on 29 July 2011 and 3 April 2012. The next briefing for new members will be held on 17 July 2012. A Hari Raya Open House with the media, radio DJs and orphans from Rumah Amal Cahaya Tengku Ampuan Rahmah was held on 22 September 2011; followed by the MACP Awards on 29 November 2011 and the recently concluded Cipta Ekspres on 11-14 June 2012.

Members also approved the purchase of a Group Personal Accident Insurance policy for the directors of the Company. The Chairman later briefed members on recent developments on the legal from following the implications of the enforcement of new Acts this year, namely the Copyright Act (Amendments) 2012, Competition Bill 2010 and Personal Data Protection Act 2010 on MACP and other developments in the music industry.

Members also voiced their concerns on the low royalty fees paid by the Government for the use of the music over RTM TV and radio stations and Government events. The meeting also decided not to renew the agreement when it expires end of this year and to negotiate for a better deal for the members which commensurate the usage of music by the Government.