Kuala lumpur: Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) has approved six new business plans worth a total of RM293 million to strengthen the future economic direction of the country's cooperative movement. Its president, Datuk Seri Dr Abdul Fattah Abdullah, announced that the proposals for these business plans were unanimously approved at ANGKASA's 40th Annual Delegates Meeting (MAPA).
According to BERNAMA News Agency, one of the key initiatives approved includes an investment and equity acquisition in Boost Holding Sdn Bhd, allowing ANGKASA, via MyANGKASA Digital Services (MDS), to acquire a stake in Boost Bank, a digital banking institution in Malaysia. This move aligns with previous plans developed based on recommendations by Bank Negara Malaysia (BNM) and aims to provide cooperative members with more flexible financing options.
Dr Abdul Fattah stated that while ANGKASA seeks to expand into the digital banking sector, the share acquisition is pending formal approval from the Ministry of Entrepreneur and Cooperative Development (KUSKOP). Additionally, delegates approved strategic investments such as a RM30 million rebranding of MyANGKASA Ventures Sdn Bhd to enter the digital takaful market, and RM36 million to build 11 new ANGKASA-owned dialysis centers nationwide.
He emphasized the long-term goal of establishing a National Dialysis Centre to cater to the increasing number of new kidney patients in Malaysia, projected to be between 5,000 and 7,000 cases annually.
Delegates further supported a proposal to request an additional RM500 million government allocation this year to bolster cooperative activities in various sectors, including retail, technology, agriculture, and food security. ANGKASA also plans to propose an exemption from the three per cent tax on contributions to the Education Fund and Cooperative Development Fund to alleviate financial strain on the sector.
The annual meeting, which saw participation from 5,687 delegates both in-person and online, also resulted in the election of Datuk Ibrahim Abdullah and Zaharuddin Alias as ANGKASA's new vice-presidents.