KOTA BELUD – A total of 14,975 registered cooperatives across the country managed to collect assets amounting to RM156.18 billion this year, said Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick.
In addition, he said these cooperatives with a membership of 7.03 million people across the country also managed to collect share capital and accumulated fees amounting to RM16.52 billion.
Ewon said of that figure, a total of 1,661 cooperatives registered in Sabah managed to acquire accumulated assets of over RM822 million, as well as over RM220 million in accumulated share capital and fees.
“The cooperatives registered in Sabah, which have 343,230 members, also managed to record a turnover of more than RM268 million this year,” he said when opening the fourth annual general meeting of Koperasi Pelancongan Tagal Kg Lingkubang Kota Belud Bhd here today.
Also present were Cooperative Societies Commission (SKM) executive vice-chairman (policy and development) Datuk Umar Sarim Saidin, state SKM director Matias Kundapin, and Tagal Kg Lingkubang Kota Belud Bhd Tourism Cooperative chairman Danial Sagun.
Meanwhile, the Penampang MP said the government was concerned about the challenges faced by the cooperative movement which was also negatively impacted due to the Covid-19 pandemic and had provided various assistance to help those affected.
“The Entrepreneur and Cooperatives Development Ministry, through its agencies, has implemented a number of plans for economic recovery to help the cooperative sector, including the deferment of loan repayments and the establishment of the Cooperative Aid Fund amounting to RM2 million,” he added. – Bernama, December 31, 2022
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