MELAKA – The Malaysian Cooperative Commission (SKM) today called for more cooperatives to apply for its development grant to fund their businesses and increase their income.
Melaka SKM director Mohd Firdaus Shaari said three categories of grants are available: “Start-Up” grants of RM50,000, “Scale-Up” grants of up to RM150,000, and “Advance” grants of up to RM300,000.
He said the “Start-Up” grant is a stimulus programme for new businesses undertaken by cooperatives operating for not less than six months, while the “Scale-Up” grant is a business development programme for cooperatives operating for at least 12 months with audited financial statements.
“The “Advance” category is a programme to strengthen and consolidate cooperatives’ businesses for a period of at least three years, after their financial statements have already been audited three times,” he said today.
Firdaus said the aid is to be used for the renovation or upgrading of premises or buildings for business purposes.
He said the grants can also be used for purchase of machinery such as front shovels, tractors, and so on for agricultural and plantation activities carried out by the cooperatives themselvecs.
However, he said the machinery cannot be leased out.
Firdaus said priority will be given to micro and small cluster cooperatives in an effort to develop entrepreneurship among cooperative members and increase B40 household incomes.
Cooperatives in Melaka keen to apply for the grant can visit https://apponline.skm.gov.my and complete the application through the Cooperative Development Assistance Application System.
As of December last year, a total of 457 cooperatives have been registered under Melaka SKM. – Bernama, January 28, 2021
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