Monday, 1 Dec 2008

Approximately RM600,000 was gained from float/placement of the funds in money markets which was used to finance the operating cost. Overall, the operating cost of the programme has been consistently maintained at below 4%, of which 3.86% was in the form of small tokens to reward local representatives for their efforts.

The target for 2008 was to completely repair 8,400 homes throughout Malaysia and as of November 2008, 7,641 homes have been successfully completed (approximately 91% completion). Periodic PAJ audits have been carried out by participants to ensure the satisfactory completion of repair works.

Prokhas has successfully proven in its PAJ 2008 scheme that for every dollar that is allocated to the poor, 96 cents reaches the poor.

PAJ 2008: Key success factors

1. Leveraging on BSN and BIMB's branch networks - The successful collaboration with BSN and BIMB is due to the existing good relationship that has been maintained between Prokhas and the banks. This is crucial to provide the reach to prospective recipients.
2. Minimum operating cost model - The key success factor for the operating model is the existing banks' branch networks and the full commitment and cooperation given by volunteers.
3. Trust and integrity - These are the core values that have assured the success of PAJ. The management of funds is undertaken with due trust and integrity.
4. Transparency - PAJ activities and records are open to the public to verify and audit upon request. Weekly reporting is carried out to monitor the progress of each ongoing activity.
5. Voluntarism - Participation in the programme is based solely on a voluntary basis. The intention is to have the programme running based on genuine sincerity to help the poor and not through enforcement.