Warmest greetings to everyone, and welcome to the 56th Annual General Assembly of our beloved Besao Multipurpose Cooperative.
I am deeply honored to greet you on this momentous occasion as we look back on a year of tremendous growth, and notable accomplishments. First and foremost, I wish to extend my deepest gratitude to each of you – our loyal members, dedicated officers, and hardworking management staff – whose unwavering support and dedication have made us accomplish many things for the past year.
The past year is indeed remarkable. I am proud to report that we have exceeded our financial targets, expanded our territorial operations, sustained our existing businesses and ventured into new ones. As of December 31, 2025, our total assets stand at P994,896,124.19 or a little “shy” to hit the much-coveted billionaire status. I am confident that in time, we will be there. For our total share capital, we reached the P300 Million mark. In terms of earnings and surplus, we are happy to report that the interest on Share Capital for the year is at 7.25%, also a record high. These accomplishments are a testament to our collective strength and our commitment to our core principles.
Our theme for this year, “Soaring Further to Greater Heights, In Unity and Solidarity”, reflects our common direction for the years ahead. We have reached a status beyond just compliance and stability; we are now focused on sustained growth and long-term profitability. In solidarity and unity, we are one in looking at a brighter horizon for our cooperative.
For the years ahead, the Board is committed to driving initiatives that enhance value for our members. Our key priorities will include:
- stabilizing and enhancing our existing operations
- exploring new areas/ventures for growth
- building partnerships with our communities and with other coooperatives, and
- more engagement opportunities for our members and clients
While challenges exist, I am confident that in the spirit of open discussion and cooperation, we will turn potential obstacles into opportunities. Together, we will continue to build a stronger, more resilient cooperative.
Thank you for your trust, your passion, and your continued patronage. Let us make this 56th General Assembly a productive and inspiring event.
Signed
MODESTO D. GAAB
Chairman, Board of Directors
